Markets

Initial claims for U.S. state unemployment benefits fell by 1,000 to 216,000 in the December 22 week, slightly above expectations for a 215,000 level.

Municipal bonds outperformed other asset classes in 2018 and it looks like the trend will continue into the new year, a trader said.

Moody's raised the Art Institute of Chicago's rating in recognition of declining debt and stronger reserves.

A federal judge sided with the private passenger train project and tossed out a suit by Indian River County, Florida.

Municipal bond activity is light as the market is mostly in vacation mode with no major bond sales scheduled until 2019. Nervous investors continued to flock to the safety of bonds amid political developments in Washington and worries of decelerating global growth.

Muni regulators are expected to slow the pace of new rulemaking and focus on enforcement in 2019, with an emphasis on continuing disclosure.

Service sector “grew moderately in December,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Wednesday.

Manufacturing growth in the central Atlantic region “weakened in December,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index dropped to negative 8 from positive 14.

Home prices in 20 U.S. cities slowed in October for a seventh consecutive month, extending the longest streak since 2014, a sign of waning demand amid higher mortgage rates and elevated property values.

Santa Clara County's decision to purchase two of the bankrupt Verity hospitals was factored into the upgrade.