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SECONDARY MARKET STAR
The Best-Selling
Municipal Bond of the Month
During the month of August, the most actively traded bond in the secondary market was the New Jersey Turnpike Authority Revenue Bond.
It boasts an impeccable credit rating, making it a reliable choice for risk-averse investors. Its issuer has a proven track record of meeting financial obligations.
MARKET COMMENTARY
JANUARY BEGAN WITH A STRONGER-THAN-EXPECTED EMPLOYMENT REPORT, WHICH SHOWED JOB GAINS OF 265,000, THE LARGEST INCREASE SINCE MARCH 2024. THE UPSIDE SURPRISE LED TO AN INITIAL MOVE HIGHER IN YIELDS TO START THE MONTH. BROADER ECONOMIC DATA RELEASED THROUGHOUT THE MONTH PAINTED A PICTURE OF A RESILIENT ECONOMY—REAL GDP GREW AT AN ANNUALIZED RATE OF 2.3% IN THE FOURTH QUARTER, WHILE THE LABOR MARKET APPEARED TO STABILIZE, WITH THE UNEMPLOYMENT RATE TICKING DOWN TO 4.1%.