What is going on in the muni market?

The National Association of Realtors pending existing home sales index rose 3.5% in November. That is the highest level since June. Existing inventory has decreased every month on an annual basis for 29 consecutive months, and the number of homes for sale at the end of October was the lowest for the month since 1999….

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Nose Bleed Levels?

The Conference Board’s measure of consumer confidence hit 129.5 in November its highest level in nearly 17 years. That is much stronger than expected. The index takes into account Americans’ views of current economic conditions and their expectations for the next six months. For the week ending November 18, new claims for unemployment insurance dropped…

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Housing Prices Surge

The Commerce Department said new home sales in October rose 6.2%. That marks the third straight monthly gain and the best sales since October 2007. There is a shrinking supply of existing homes for sale. There is only 4.9 months’ supply of newly-built homes on the market, the lowest reading since July 2016. The number…

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Mrs. Reinhart did not get the memo

Stocks posted record highs yesterday. The S&P 500 gained 0.7% to finish at 2,599. The index broke above 2,600 for the first time ever during the session. The tech-laden Nasdaq rose 1.1% to 6,862. Markets are closed tomorrow and will hold an abbreviated session on Friday. According to the National Association of Home Builders home builder sentiment rose…

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Dismal Hiring Number

US index futures were trading at seven-month highs this morning, at least until this morning’s jobs number offered a major disappointment.  Companies slowed their hiring drastically in May, as people dropped out of the labor force, a bleak picture for Fed officials as they prepare to debate increasing short-term interest rates at a policy meeting…

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Super Tuesday for Stocks

Yesterday turned out to be Super Tuesday for the stock market too, as investors bought equities with gusto. The Dow popped 349 points for its second best day of the year, the S&P 500 almost 2 1/2%, while the Nasdaq logged its greatest day of 2016 with a whopping 2.9% gain. Despite the additional certainty…

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