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James Bass, chief financial officer of the Texas Department of Transportation, is supervising bond issuance in calendar year 2015 under the direction of the Texas Transportation Commission and the state legislature.
Already outpacing all other issuers in the Southwest this year, the Texas Transportation Commission is going to market with $1 billion of triple-A-rated bonds.
Municipal bond volume increased for the second month in a row and the seventh out of eight months this year, as both new money issuance and refunding volume rose 20.8% for the month of August.  more »
Hillview, Ky.'s bankruptcy filing offers more evidence that municipalities increasingly consider filing for reorganization as a way to cure balance-sheet problems, according to Moody's Investors Service.  more »
State lawmakers have authorized more than $8 billion of new road bonds in 2015, with billions more of new revenues up to the voters in fall elections.  more »
Bond Buyer Market Reporters Chip Barnett and Aaron Weitzman
Prices of top-shelf municipal bonds finished steady on Monday, traders said, with yields on most maturities closing unchanged. In the primary, muni traders were preparing to take on a paltry new issue slate totaling about $3.3 billion.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$1,000,000
DASNY
NY
Revenue bonds
09/02/15
9am ET
$392,330
Wisconsin
WI
GOs
09/01/15
11am ET
$143,035
Valparaiso Schools
IN
Revenue bonds
09/02/15
9am ET
$134,455
Lwr Colorado Rvr Auth
TX
Revenue bonds
09/02/15
9am ET
$78,560
Essex County
NJ
GOs
09/02/15
11am ET
Index
Current
Previous
High
Low
Rev. Bond
4.20%
4.08%
5.40%
4.06%
20-Bond
3.79%
3.73%
5.03%
3.29%
11-Bond
3.31%
3.25%
4.75%
3.14%
 
Current
Previous
High*
Low*
BB40 Index
123-29
123-24
132-15
107-01
Average Price
104.17
104.04
110.87
84.90
Yield to Par Call
4.10
4.12
6.35
3.31
Yield to Maturity
4.41
4.42
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$22,305
Amarillo
TX
Revenue bonds
08/31/15
12pm ET
$16,385
Fargo
ND
GOs
08/31/15
11am ET
$7,575
Wisconsin Rapids
WI
GOs
08/31/15
11am ET
$2,100
Sturgeon Bay
WI
GOs
08/31/15
12pm ET

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A budget compromise this year to reduce sequester cuts seems unlikely, and agencies like the Defense Department have fewer opportunities to reduce the impact of spending cuts.

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