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The MSRB has to harmonize its contribution limits with other federal rules to comply with a Supreme Court ruling, said Hardy Callcott.
Dealers want the de minimis contribution limit increased in the Municipal Securities Rulemaking Board's proposed application of its Rule G-37 on political contributions to municipal advisors, and one lawyer told the board the rule is probably unconstitutional unless it is raised.
Citigroup said in an interview the sell-off in tobacco bonds caused by Bill Gross' departure from PIMCO will be short lived.  more »
Puerto Rico tax and revenue anticipation notes will carry a 7.75% coupon and mature on June 30, 2015.  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
124-17
124-05
132-15
107-01
Average Price
108.07
107.75
108.07
84.90
Yield to Par Call
3.82
3.86
6.35
3.57
Yield to Maturity
4.39
4.41
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$42,030
Cherry Creek SD 5
CO
GOs
10/02/14
12pm ET
$40,000
Smithtown CSD
NY
TANs
10/02/14
11am ET
$36,915
Springfield Pub Util Bd
MO
Revenue bonds
10/02/14
12pm ET
$20,000
Waterford SD
MI
GOs
10/02/14
11am ET
$17,500
Nassau Co. BOCES
NY
RANs
10/02/14
10:30am ET

Player Template for http://www.bondbuyer.com

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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