Markets

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.

Municipal bonds were stronger with Treasuries as stock market volatility continued. Trading closed early ahead of the holiday.

The Chicago Fed National Activity Index for November rose to 0.22 from a downwardly revised neutral level in October.

While stocks are suffering still and there is a chance of a government shutdown, municipals strengthen yet again to close out the second to last week of the year.