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Image: Martin County Board of County Commissioners
Florida’s incoming state Senate president has proposed $1.2 billion of bonds to fight algae blooms like this one on Florida’s Atlantic coast.
Florida’s incoming state Senate president wants to use his powerful position to back an environmental program financed with the largest state bond program in 15 years.
West Virginia’s attorney general has reached settlements totaling $1.28 million with four firms in a lawsuit that alleged they engaged in bid rigging and price fixing for municipal investments, the latest action in federal and state investigations of bid rigging in the muni market that stretch back more than ten years.  more »
Long-term municipal bond volume sky-rocketed to the highest August total in at least 30 years, as deals to raise new money surged along with refundings.  more »
Financial regulators and others should work to reverse the increased narrowing of the municipal market caused by fewer retail investors and wealthier bondholders, the Securities and Exchange Commission’s Investor Advocate told regulators.  more »
Michigan’s economy has continued to improve without helping fiscal health of the state’s local governments, according to a new University of Michigan report on the state’s local governments.  more »
Top-rated municipal bonds ended unchanged on Wednesday, traders said, as the market saw new supply from Minnesota and Arizona issuers hit the screens only one day after the $2.69 billion California deal priced.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$2,707,155
California
CA
GOs
08/30/16
9am ET
$542,125
Minneapolis-St. Paul Air
MN
Revenue bonds
08/31/16
9am ET
$500,000
Illinois Fin Auth
IL
Revenue bonds
08/30/16
9am ET
$254,835
Pennsylvania HFA
PA
Revenue bonds
08/31/16
9am ET
$227,330
Arizona BOR
AZ
Revenue bonds
08/29/16
9am ET
Index
Current
Previous
High
Low
Rev. Bond
3.06%
3.06%
5.40%
2.98%
20-Bond
2.84%
2.84%
5.03%
2.80%
11-Bond
2.42%
2.42%
4.75%
2.39%
 
Current
Previous
High*
Low*
BB40 Index
134-14
134-15
136-01
107-01
Average Price
112.70
112.70
114.72
84.90
Yield to Par Call
2.68
2.68
6.35
2.52
Yield to Maturity
3.74
3.74
5.34
3.71

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$151,627
SCAGO
SC
COPs
08/31/16
11:30am ET
$50,000
Rock Hill SD 3
SC
BANs
08/31/16
1pm ET
$39,740
Janesville SD
WI
GOs
08/31/16
11am ET
$38,460
Denton
TX
GOs
08/31/16
11:30am ET
$27,391
SCAGO
SC
COPs
08/31/16
10:45am ET


Steven Weyl, a Butler Snow attorney who practices in the public finance, tax incentives, and credit markets groups in Boston, joins Chip Barnett to discuss a number of regulatory topics including the bank direct placement market. He also talks about the roles and rules that surround municipal underwriters, advisors, placement agents and bond counsel.

The Municipalities Continuing Disclosure Cooperation Initiative was a particularly imaginative enforcement solution directed toward a very specific disclosure issue.

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