Markets

Traditional bond buyers are going back to Puerto Rico.

The employment cost index, a broad gauge monitored by the Federal Reserve, increased 0.7% in the October-December period.

Jobless claims jumped from a five-decade low to 253,000 in the week ended Jan. 26.

Munis spent most of the day in a defensive stance as the Fed met to decide the course of monetary policy.

The initial public offering will raise up to $540 million to expand Florida's passenger train system and acquire the Las Vegas XpressWest project.

The MTA, amid political debate over funding and control, intends to sell $500 million of transportation revenue bonds and $750 million of BANs.

The Federal Open Market Committee is set to announce its decision on interest rates this afternoon.

A top House Democrat warned the Trump administration not to engage in debt limit brinksmanship that could halt trading in state and local government securities.

Pending home sales dropped 2.2% to an index reading of 99.0 in December, after a revised 0.9% decline to 101.2 in November.

Private-sector employment increased by 213,000 in January, on a seasonally adjusted basis, ADP estimated Wednesday.