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Analysts said that September's volume gain over the same month in 2013's levels is the first sign issuance might be rebounding this year, even though this is not the first time monthly issuance in 2014 has come in higher than the same period in 2013.
Using language Mayor Rahm Emanuel is unlikely to replicate in campaign brochures, Chicago's latest bond documents lay out for investors in stark terms the risks posed by its steep credit deterioration and hazards should it slip further.  more »
Bond insurer Financial Guaranty Insurance Co., the last major holdout creditor in Detroit's bankruptcy, is reportedly nearing a settlement with the city that includes a mix of cash and city assets.  more »
Securities and Exchange Commission member Michael Piwowar said Tuesday that it isn't clear if implementing a uniform fiduciary standard of conduct for broker-dealers and investment advisers providing personalized investment advice about securities would benefit retail investors.  more »
A ruling by a Superior Court judge in Orange County, Calif., Friday cleared the way for the Anaheim City Council to sell $300 million in bonds to pay for a 200,000-square-foot convention center expansion.  more »
Bond Buyer Markets Reporter Hillary Flynn
Investors are keeping their cash on the sidelines until the week's top deal hits the market, a $1.1 billion sale of Texas Transportation Commission highway improvement general obligation bonds that is scheduled to be priced by JPMorgan Securities on Thursday.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$1,100,000
Texas Trans Comm
TX
GOs
09/30/14
9am ET
$730,000
Connecticut
CT
GOs
09/30/14
9am ET
$625,000
Calif Water Res
CA
Revs
09/30/14
9am ET
$250,000
Alachua Co Hlth Facs
FL
Revs
10/01/14
9am ET
$195,000
Chandler
AZ
GOs
09/30/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.78%
4.90%
5.40%
4.19%
20-Bond
4.11%
4.17%
5.03%
3.53%
11-Bond
3.96%
4.02%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
124-05
124-04
132-15
107-01
Average Price
107.75
107.70
107.67
84.90
Yield to Par Call
3.86
3.86
6.35
3.57
Yield to Maturity
4.41
4.41
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$123,100
Orange County
CA
Revenue bonds
10/01/14
11am ET
$57,300
Knox County
TN
GOs
10/01/14
11:15am ET
$38,050
Weber SD
UT
GOs
10/01/14
11:30am ET
$31,700
Knox County
TN
GOs
10/01/14
10:15am ET
$22,975
White Hall SD 27
AR
GOs
10/01/14
12pm ET

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Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

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