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“It strains the notion of fairness and justice” if Detroit can repudiate debt it entered into nine years ago, wrote bankruptcy expert James Spiotto.
The outcome of Detroit's high-profile bankruptcy case could influence how other distressed Michigan governments prioritize their own retirement obligations against other types of debt, Moody's Investors Service said.
Many analysts see a default by the Puerto Rico Electric Power Authority as a probability, though they differ in how that would happen and what the impact of the default would be on other Puerto Rico credits.  more »
Municipal Assurance Corp., Assured Guaranty's municipal-only business, has been licensed by the California Department of Insurance to write financial guaranty insurance in the state alongside its affiliates Assured Guaranty Municipal Corp. and Assured Guaranty Corp.  more »
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A Rhode Island Superior Court judge will hear a petition by bondholders to oppose receivership for Wyatt Detention Center in Central Falls, saying the city is using the process to cram them down.  more »
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New-issue volume is expected to decline by around $2 billion this week, as a handful of deals from California, the District of Columbia and Illinois will vie for investors’ attention.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$744,290
Univ of Calif State Trustees
CA
Revs
07/31/14
9am ET
$300,000
George Washington Univ
DC
GOs
07/28/14
9am ET
$285,000
Illinois Sports Facs Auth
IL
Revs
07/30/14
9am ET
$230,650
San Antonio Imp
TX
Revs
07/29/14
9am ET
$150,000
Missouri Health & Educ Facs
MO
Revs
07/29/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.99%
5.07%
5.40%
4.19%
20-Bond
4.29%
4.36%
5.03%
3.53%
11-Bond
4.02%
4.09%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
122-02
121-26
132-15
107-01
Average Price
106.04
105.82
105.98
84.90
Yield to Par Call
4.09
4.12
6.35
3.57
Yield to Maturity
4.51
4.53
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$6,175
Fort Bend Co MUD
TX
GOs
07/28/14
12pm ET
$6,115
Swift Co-Benson Hosp Dt
MN
Revs
07/28/14
11am ET
$4,730
Gobles Pub Schs
MI
GOs
07/28/14
11:30am ET
$4,069
Southampton
NJ
BANs
07/28/14
11am ET
$3,835
Menasha
WI
GOs
07/28/14
11am ET

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

Since the release of the Securities and Exchange Commission's final municipal advisor registration rule in September 2013, the Bond Dealers of America and its members have dedicated significant efforts and resources to work with regulators, educate issuers and ultimately be prepared to make a successful implementation of the rule.

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