The Federal Reserve's monetary-policy committee, after a two-day meeting that culminates on Wednesday, is likely to scrap a pledge for 'patience' on setting interest rates, paving a way for a rate reduction in July, according to economists at Deutsche Bank.
Builders started 1.269 million new home-construction projects during May, the Census Bureau says, down from the prior month's 1.29 million. But the figure for housing starts still exceeded Wall Street expectations for 1.245 million new projects in May.
Short-term chop or pullback appear likely, but there's an indicator worth fretting over: The 50- and 200-day moving average lines of the Russell 2000 are rolling over.
While some profit-taking was overdue, the question now is whether this is simply a refresh pause or a signal that the indices are set to roll over.
Goldman Sachs analysts aren't expecting the Federal Reserve to lower interest rates before the end of the year, according to a note published Monday, even as investors price in a 60% of at least three cuts from the Open Markets Committee and President Donald Trump renews his criticism of the central bank's chairman.
To compare the yield on a municipal bond and a taxable bond, you have to calculate either the taxable-equivalent yield of the muni bond or the after-tax yield of the taxable bond.
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