Markets

Personal income rose 0.4% in January, while nominal PCE was up 0.2% and the core PCE price index rose 0.3% in the month.

Municipal bond buyers welcomed several big deals on Wednesday as demand outpaced new bond supply.

Chicago is seeking $4 billion in initial borrowing authority to launch its overhaul of the airport's terminals.

The light month for long-term municipal bond volume is another ripple effect of the new tax law and the issuance rush leading up to its enactment.

Issuers across the Southeast sold $68.5 billion of bonds in 2017, a 5.8% year-over-year decrease.

Playing a waiting game on Wednesday, portfolio managers were looking for volume to normalize.

Pending home sales plunged 4.7% to an index reading of 104.6 in January, from a downwardly revised 109.8 in December.

The Chicago Business Barometer declined to 61.9 in February from 65.7 in January.

Fourth quarter GDP growth was revised down slightly to a 2.5% annual rate from the 2.6% pace in the advance estimate.

The on-time and on-budget Tappan Zee Bridge replacment helped the authority land a positive rating outlook.