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Lack of congressional action to replenish the dwindling Highway Trust Fund means aging bridges will continue to deteriorate.
Union-owned Amalgamated Bank has been carving a niche for itself with bond transactions in Harrisburg and Scranton, Pa., and Allen Park, Mich.  more »
Oversight will be key to keeping the city out of another Chapter 9, Detroit CFO John Hill said at a Chicago forum on Wednesday.  more »
Market participants should look at contribution levels, plan assumptions, and other factors when analyzing the health of a pension system and governments should employ best practices to avoid underfunding, an analyst at Wells Fargo Securities wrote in a report issued this week.  more »
Alaska's $900 million project to build a bridge over the Knik Arm of the Cook Inlet is a step closer to construction as the new funding plan makes its way through the state legislature.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$750,000
Illinois
IL
GOs
04/24/14
9am ET
$700,000
Texas PFA
TX
Revenue bonds
04/24/14
9am ET
$632,000
New Jersey EDA
NJ
Taxable bonds
04/23/14
9am ET
$575,000
California State PWB
CA
GOs
04/22/14
12:30pm ET
$527,000
New Jersey EDA
NJ
Refunding bonds
04/23/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
5.13%
5.12%
5.40%
4.19%
20-Bond
4.33%
4.32%
5.03%
3.53%
11-Bond
4.04%
4.03%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
119-29
119-30
132-15
107-01
Average Price
104.57
104.59
105.42
84.90
Yield to Par Call
4.33
4.33
6.35
3.57
Yield to Maturity
4.64
4.64
5.34
3.94

(* for calendar year)

There are no competitive bond sales of more than $1 million scheduled for April 25, 2014.

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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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