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Image: Los Angeles County Metropolitan Transportation Authority
Regional News
Los Angeles Metro Moves on Billions in Bonds for Rail Transit
by: Keeley Webster
The Los Angeles County Metropolitan Agency will be seeking approval from its board in June on borrowing totaling $10.2 billion through 2026 to complete the rail transit network.

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Washington
Former Goldman Banker Gets $100,000 Fine, 5-Year Bar From Industry - UPDATED
A former investment banker at Goldman, Sachs, & Co. has agreed to pay a $100,000 fine and be barred from the securities industry for five years for his involvement in a pay to play scheme involving a Massachusetts gubernatorial candidate.  more »
Regional News
Chicago Board Votes to Close 49 Schools, Will Bond to Improve Others
The Chicago Board of Education voted to shutter 49 schools in a move defended by the school system and board members as needed to right-size a district straining with a $1 billion budget deficit.  more »
Washington
Bipartisan Infrastructure Fund Bill Introduced
Washington
SEC Charges South Miami with Securities Fraud
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Markets
Bond Buyer Markets Reporter Taylor Riggs
Market Close: Munis Extend Losing Streak As Prices Still Expensive
The tax-exempt market weakened Thursday, extending its losing streak into five consecutive trading sessions, as buyers waited for muni yields to rise even further before putting money back to work.  more »
Washington
More SEC Pension, Disclosure Cases May Be On Way
The Securities and Exchange Commission will continue to consider possible enforcement actions over pension and other disclosure failures such as those that occurred in Illinois and Harrisburg, Pa., the SEC's muni office chief said Wednesday.  more »
Regional News
Image: Fotolia
CalPERS Wants to Ban Winston & Strawn from Chapter 9 Cases
The California Public Employees' Retirement System filed motions to remove the law firm Winston & Strawn LLP from the San Bernardino and Stockton Chapter 9 cases because they hired their outside bankruptcy attorneys.  more »
Indexes
Amount
Issuer
St
Description
Sale Date
Sale Time
$800,000
New York City
NY
GOs
05/22/13
9am ET
$480,000
Los Angeles DWR
CA
Revenue bonds
05/21/13
9am ET
$216,650
Prince's George County
MD
GOs
05/21/13
11am ET
$162,000
Louisiana
LA
GOs
05/23/13
9am ET
$140,000
Ohio University
OH
Revenue bonds
05/22/13
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.30%
4.25%
4.93%
4.06%
20-Bond
3.70%
3.61%
4.08%
3.27%
11-Bond
3.46%
3.37%
3.86%
3.03%
 
Current
Previous
High*
Low*
BB40 Index
128-05
128-17
132-25
128-05
Average Price
100.02
100.29
105.42
100.02
Yield to Par Call
4.17
4.13
4.17
3.57
Yield to Maturity
4.17
4.15
4.17
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$24,480
Auburn
NY
BANs
05/23/13
10:30am ET
$9,893
Peekskill
NY
GOs
05/23/13
11am ET
$7,600
West Central CSD
IA
GOs
05/23/13
12pm ET
$6,236
Paterson
NJ
Notes
05/23/13
12pm ET
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Commentary - When It May Be Virtually Free to Be Tax Free
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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