Municipal to UST ratios hit highs earlier in the week, creating entry points for buyers to return to the market even as ratios fell on the week. The primary will see a smaller calendar at $5.4 billion.
Federal Reserve Board Chair Jerome Powell would not commit to timing for liftoff, stressing decisions would be data-based and the Fed will not allow inflation to become entrenched.
Munis followed UST weaker while stocks sold off after the employment report, which offered many messages. Analysts believe the bottom line is the Fed will liftoff in March.
Reclamation investing $15.4 million to help communities mitigate drought and climate change impacts in Western United States
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Reclamation is providing $15.4 million in grants to projects in the West that allow them to prepare for and respond to drought. These projects support a proactive approach to drought as it increases resilience to the impacts of climate change.
The American River in California. The El Dorado Water Agency will upgrade two sensors in a 12-sensor American River Hydrologic Observatory network. Photo: Reclamation
The projects selected will help communities prepare for the increased risk of a drought by increasing the reliability of water supplies and improving water management.