11th May 2026
Municipal market update
Economic data last week reflected continued resilience in the U.S. economy, as April payrolls exceeded expectations with 115,000 jobs added, unemployment remained steady, productivity continued to improve, and unemployment claims stayed historically low, signaling that layoffs remain muted despite broader economic uncertainty. At the same time, the U.S. trade deficit widened modestly due to strong consumer and business demand driving imports higher.