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Puerto Rico chief of staff Víctor Suárez Meléndez said that the Public Finance Corp. would not make a bond payment Monday, according to the El Vocero news web site.
Puerto Rico Public Finance Corp. may miss a $58 million bond payment due Monday, in what could be the first volley in the biggest municipal default in history.
Puerto Rico’s government has suspended setting aside money for its general obligation debt, increasing concern among some investors that even the island’s government-guaranteed debt may not be paid.  more »
Municipal bond volume increased in July from a year earlier, as new money issuance more than made up for a drop in refundings to the lowest monthly level of 2015.  more »
Lawmakers in Sacramento are trying to solve a very big and expensive puzzle: how to fund California’s estimated $5.7 billion annual infrastructure funding gap.  more »
Bond Buyer Markets Reporter Chip Barnett
Prices of top-shelf municipal bonds finished stronger on Friday, traders said, with yields on some maturities falling by as much as four basis points. For the week, muni yields were slightly weaker.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$990,000
Michigan State Bldg
MI
Revenue bonds
07/30/15
9am ET
$750,000
New York City
NY
GOs
07/30/15
9am ET
$422,000
San Antonio
TX
Revenue bonds
07/28/15
9am ET
$364,000
New York City IDA
NY
Revenue bonds
07/29/15
9am ET
$290,900
Virginia College Bldg
VA
Revenue bonds
07/28/15
10:30am ET
Index
Current
Previous
High
Low
Rev. Bond
4.13%
4.15%
5.40%
4.06%
20-Bond
3.75%
3.75%
5.03%
3.29%
11-Bond
3.27%
3.28%
4.75%
3.14%
 
Current
Previous
High*
Low*
BB40 Index
123-26
123-15
132-15
107-01
Average Price
104.08
103.80
110.87
84.90
Yield to Par Call
4.07
4.11
6.35
3.31
Yield to Maturity
4.39
4.40
5.34
3.94

(* for calendar year)

There are no competitive bond sales over $1 million scheduled for July 31, 2015.

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Orrick, Herrington & Sutcliffe LLP attorneys take a look at the Securities and Exchange Commission settlements with 36 municipal securities underwriters pursuant to the Municipalities Continuing Disclosure Cooperation initiative.

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