Markets

The muni market absorbed almost $58 billion, a record for December, before a holiday hiatus to end the year.

The long holiday weekend comes at a perfect time for tired muni market participants after a furious few weeks of action spurred by tax reform.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "continued at a solid pace, and optimism remained high" in December.

The pace of new single-family home sales increased by 17.5% to 733,000, the highest level since July 2007.

The University of Michigan's final December consumer sentiment index reading was 95.9.

The value of U.S. durable goods orders rose 1.3% in November, but were actually down 0.1% excluding a 4.2% jump in transportation orders.

Personal income rose 0.3% in November, while nominal PCE was up 0.6% and the core PCE price index rose 0.1%.

The region's non-manufacturing sector “continued to grow.”

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose to 3.93% from 3.91% last week.

The muni primary market ground to a halt after a barrage of deals triggered by tax legislation.