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City Treasurer Kurt Summers will lead a newly revamped Chicago Infrastructure Trust board.
Three years after its much ballyhooed launch by Mayor Rahm Emanuel, the Chicago Infrastructure Trust, slow to get off the ground, is getting a makeover.
Proposed rule changes by the Federal Reserve are so restrictive that they would either substantially reduce or exclude municipal securities from being considered high-quality liquid assets in liquidity coverage ratios banks have to meet and, as a result, would hurt the municipal market, dealer groups and issuers are warning.  more »
A source close to the Puerto Rico government, disputing a report that restructuring is avoidable, said specific debt decisions will be delayed until least mid-September.  more »
A memorandum recently issued by Rebecca Harrigal, director of the Internal Revenue Service tax-exempt bond office, provides examiners and managers in the office with interim guidance on conducting audits of Build America Bonds and other direct-pay bonds.  more »
Bond Buyer Markets Reporters Chip Barnett and Aaron Weitzman
Prices of top-rated municipal bonds closed stronger on Monday, according to traders, as yields on some maturities weakened by as much as three basis points. Treasury prices also rose while stocks fell after equities in China plunged. Oil prices dropped to a four-month low on the Chinese share decline as the dollar headed lower.  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
4.15%
4.23%
5.40%
4.06%
20-Bond
3.75%
3.82%
5.03%
3.29%
11-Bond
3.28%
3.35%
4.75%
3.14%
 
Current
Previous
High*
Low*
BB40 Index
123-13
123-11
132-15
107-01
Average Price
103.76
103.70
110.87
84.90
Yield to Par Call
4.12
4.12
6.35
3.31
Yield to Maturity
4.41
4.41
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$216,425
Florida DOT
FL
GOs
07/27/15
12pm ET
$10,000
Central CO. FPD
MO
GOs
07/27/15
11am ET
$9,175
Hondo ISD
TX
GOs
07/27/15
12pm ET
$8,295
Chambers Co.
TX
GOs
07/27/15
11am ET
$6,850
Bourbon Co.
KS
GOs
07/27/15
12pm ET

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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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