Fixed Income Daily. Jan, 31

Fast FIX :
-Heightened uncertainty regarding shifting US policies, and mixed economic data, including Friday’s slower than expected GDP growth number, make it increasingly unlikely that FOMC members will hike the Fed Funds target rate when they meet today and tomorrow;
-With spending growing more quickly than income, it follows that the household savings rate fell, which it did - from 5.6% to 5.4% - validating increasingly positive consumer confidence indicators;
-Moody’s lifted General Motors’ (Baa3/BBB/BBB-) senior unsecured rating to Baa3 from Ba1 on a stronger competitive profile with attention to costs;
-On a valuation basis, long dated municipals continue to be attractive with the current 30-year Muni/Treasury ratio measuring at 101.365%.