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"The continuing theme of the real driving force behind the performance of munis this year is the imbalance of supply and demand," said Jim Colby, chief municipal strategist at Van Eck Global.
October's volume of $34 billion came in 17.7% higher than a year earlier, the third month in a row issuance was greater than at the same time in 2013, according to Thomson Reuters data.
While the judge's ruling in Stockton, Calif.'s bankruptcy case did not provide a precedent for dealing with pension obligations in Chapter 9, it did provide a "roadmap" for other municipalities that may want to cut pensions, one expert said.  more »
A $5 million budgetary surplus and better transparency marks New York City's comprehensive annual financial report, said Comptroller Scott Stringer.  more »
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Business tax professionals expect tax reform in the next several years, with 2017 being the most likely year for enactment, the latest Tax Reform Business Barometer from The Tax Council and Ernst & Young LLP found.  more »
Wisconsin will refund $132 million of transportation revenue bonds on Thursday, two days after state voters cast a decision on a proposed constitutional amendment that would bar future raids on the state's transportation fund for other expenses.  more »
Bond Buyer Markets Reporter Christine Albano
It was an eerily quiet close to the week for the municipal market on Friday as traders said there was more of a lull than usual as they looked ahead to next week's unemployment numbers.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$1,630,000
N.Y. Liberty Dev
NY
Revenue bonds
10/28/14
9am ET
$400,000
Illinois Toll
IL
Revenue bonds
10/30/14
9am ET
$350,000
California Earthquake
CA
Revenue bonds
10/28/14
9am ET
$339,805
Jackson County
MO
Special obs
10/29/14
9am ET
$204,715
Southcentral GA
PA
Revenue bonds
10/28/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.53%
4.49%
5.40%
4.19%
20-Bond
3.90%
3.90%
5.03%
3.53%
11-Bond
3.75%
3.75%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
125-09
125-05
132-15
107-01
Average Price
108.71
108.62
110.53
84.90
Yield to Par Call
3.73
3.74
6.35
3.50
Yield to Maturity
4.35
4.36
5.34
3.94

(* for calendar year)

There are no competitive bond sales over $1 million scheduled for Oct. 31, 2014.

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Americans are suffering the consequences of Congress, governors and legislators across the U.S. pushing the burden of today's costs onto the backs of tomorrow's taxpayers by repeatedly putting off infrastructure repairs and new construction.

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