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Republican Gov. Sam Brownback says 2012 legislation putting new hires in a cash-balance plan will stabilize Kansas pension funding.
The Kansas Public Employees Retirement System is under investigation by the Securities and Exchange Commission for its pension disclosure practices, a probe that began in 2010, according to a KPERS spokeswoman and bond documents.
With the votes in on Detroit's plan to deal with its $18 billion of debt, the stage is set for confirmation hearings next month that will pit unhappy bondholders and bond insurers against employees and retirees who overwhelmingly endorsed the plan.  more »
Puerto Rico called for the dismissal of a suit challenging the commonwealth's newly passed public corporation restructuring law.  more »
Despite significant obstacles, Detroit's proposed plan of adjustment to exit its Chapter 9 bankruptcy is feasible, according to Martha Kopacz, the municipal finance expert hired by the bankruptcy court to assess the plan.  more »
Bond Buyer Markets Reporters Kate Smith and Maria Bonello
As yields contract further, traders have found value within "off the beaten track" credits in the secondary market. While primary supply has been healthier than in previous weeks with $6 billion of scheduled issuances, the pricing has been expensive enough to force traders to be more creative.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$722,910
New Mexico Mun Auth
NM
Revs
07/22/14
9am ET
$400,000
Maryland
MD
GOs
07/23/14
11am ET
$383,570
Beaverton SD
OR
GOs
07/22/14
9am ET
$379,745
Maryland
MD
GOs
07/23/14
10:45am ET
$310,000
Miami-Dade Co
FL
TANs
07/22/14
11am ET
Index
Current
Previous
High
Low
Rev. Bond
5.07%
5.03%
5.40%
4.19%
20-Bond
4.36%
4.38%
5.03%
3.53%
11-Bond
4.09%
4.11%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
121-23
121-22
132-15
107-01
Average Price
105.74
105.72
105.42
84.90
Yield to Par Call
4.13
4.13
6.35
3.57
Yield to Maturity
4.53
4.53
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$400,000
Maryland
MD
GOs
07/23/14
11am ET
$379,745
Maryland
MD
GOs
07/23/14
10:45am ET
$22,230
James City Co
VA
GOs
07/23/14
11am ET
$18,574
Lockport City SD
NY
BANs
07/23/14
11am ET
$12,600
Clarkstown CSD
NY
TANs
07/23/14
11am ET

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As the legal fight over Puerto Rico's Recovery Act heats up, Argentina and Arkansas provide roadmaps to what may lie ahead.

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