Fixed Income Daily. Oct, 25

Janney published its Muni Monthly for October yesterday, with focus on the value of diversification in muni portfolios.

Fast FIX:
-The yield curve steepened yesterday on positive economic data, Fedspeak, and this week’s auctions;
-Data on consumer confidence, FHFA’s house price, and S&P/Case-Shiller 20-city composite house price indices is due out today;
-AT&T was put on review for downgrade by all three agencies after its merger announcement; MetLife is still dealing with the SIFI discussion;
-The 10-year M/T ratio dropped below 100%; Fitch commented on NJ’s gas tax and 2-step sales tax reduction plans.