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"The rapid growth of 'direct placement, direct loan or private placement' transactions to banks and other investors has been well documented," Mike Nicholas of Bond Dealers of America wrote in a letter to the SEC. "We believe that this practice should be an important area of focus for the commission's municipal advisor enforcement priorities."
The Bond Dealers of America is urging the Securities and Exchange Commission to crack down on non-dealer municipal advisors acting as unlicensed broker-dealers by assisting municipalities in placing their debt through the direct placement markets.
Puerto Rico Gov. Alejandro García Padilla is expected to file a bill authorizing a greater than $2 billion bond this week, a leading Puerto Rico senator said.  more »
Texas officials like DeWitt County, Texas, Judge Darryl Fowler are riding a boom from oil and gas drilling but know from experience that a "Texas Miracle" can quickly turn into a mirage.  more »
The Bond Dealers of America is urging the Securities and Exchange Commission to crack down on non-dealer municipal advisors acting as unlicensed broker-dealers by assisting municipalities in placing their debt through the direct placement markets.  more »
An extra layer of state oversight loosely based on the Harrisburg receivership may evolve from Pennsylvania's new time limit for distressed municipalities to stay in its Act 47 program.  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
126-06
126-18
132-15
107-01
Average Price
109.51
109.82
110.53
84.90
Yield to Par Call
3.63
3.59
6.35
3.50
Yield to Maturity
4.31
4.29
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$230,325
Fairfax County
VA
GOs
10/21/14
11am ET
$125,000
Broward County SD
FL
TANs
10/21/14
11am ET
$100,000
Hennepin County
MN
GOs
10/21/14
10:45am ET
$82,675
Hennepin County
MN
GOs
10/21/14
11:15am ET
$48,505
Yonkers
NY
GOs
10/21/14
12pm ET

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