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The executive branch's focus on inversions "has probably placed corporate and international tax reform on a higher priority for the administration," said Micah Green, chair of the financial services and tax policy practice group at Squire Patton Boggs.
Corporate tax reform is likely to be a priority for Congress and the Obama administration no matter which party has control of the Senate after the midterm elections, said tax experts and congressional observers who, nevertheless, differ on how this might impact municipal bonds.
The Municipal Securities Rulemaking Board announced Wednesday that it will discuss municipal advisor pay-to-play rulemaking, market transparency enhancement initiatives, and asset-backed securities disclosure when it meets in Alexandria, Va. Oct. 29-31.  more »
A new train station in downtown Dallas may be the northern terminal of a 240-mile privately financed high-speed rail line to Houston.  more »
Market participants are concerned that language in the Securities and Exchange Commission's proposal to remove references to credit ratings from its Rule 2a-7 governing money market funds could be too restrictive on what securities MMFs could purchase.  more »
Chicago's general obligation bond ratings will remain pressured until the city fully fixes its pension mess, top city finance officials told alderman, while warning City Council not to expect to use reserves to ease the pain of a coming $550 million pension spike.  more »
Bond Buyer Markets Reporter Hillary Flynn
The $1.4 billion San Joaquin Hills Transportation Corridor Agency was able reprice its senior lien toll road refunding revenue bonds at lower yields because of buyers' heavy demand for triple-B paper, traders said.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$1,000,000
San Joaquin Hills Transp
CA
Revs
10/22/14
9am ET
$500,000
Metropolitan Trans Auth
NY
Revs
10/23/14
9am ET
$368,000
DC Water & Sewer
DC
Revs
10/22/14
9am ET
$305,865
State of Delware
DE
GOs
10/21/14
9am ET
$300,000
Michigan Fin Auth
CA
Revs
10/22/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.46%
4.65%
5.40%
4.19%
20-Bond
3.87%
4.01%
5.03%
3.53%
11-Bond
3.72%
3.86%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
125-16
126-06
132-15
107-01
Average Price
108.90
109.51
110.53
84.90
Yield to Par Call
3.70
3.63
6.35
3.50
Yield to Maturity
4.34
4.31
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$500,000
Massachusetts
MA
GOs
10/22/14
10am ET
$258,665
Seattle
WA
Revenue bonds
10/22/14
11am ET
$206,920
Virginia College Bldg
VA
Revenue bonds
10/22/14
11:15am ET
$200,000
Massachusetts
MA
GOs
10/22/14
10:30am ET
$102,985
Virginia College Bldg
VA
Revenue bonds
10/22/14
10:45am ET

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Americans are suffering the consequences of Congress, governors and legislators across the U.S. pushing the burden of today's costs onto the backs of tomorrow's taxpayers by repeatedly putting off infrastructure repairs and new construction.

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