Markets

Municipal bonds lost early strength and finished mixed on Tuesday as traders returned to work after the Dr. Martin Luther King holiday.

Municipals were stronger Tuesday ahead of this week’s $5 billion new issue calendar.

Existing home sales fell 6.4% to a seasonally adjusted 4.99 million-unit rate in December.

The Philadelphia region's services sector reading fell in January, Federal Reserve Bank of Philadelphia said on Tuesday.

A trader said lack of follow-through on long new issues continued to plague the market as the weekly calendar shrank to $5B of issuance.

The legislation would leverages $8 billion in federal investment into $226 billion worth of bond authority over the next 10 years.

Hilltop Securities, the Southwest region's top financial advisor, is hiring and restructuring management two years after a difficult merger with Southwest Securities.

The municipal bond market is prepping for around $5 billion of new issuance in the upcoming holiday-shortened week.

The University of Michigan's preliminary January consumer sentiment index reading was 90.7, compared to the final December 98.3 and the preliminary December 97.5, according to market sources.

Industrial production grew 0.3% in December, the Federal Reserve reported Friday.