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An issuer told Janney Capital Markets director Tom Kozlik that there are no votes to fund infrastructure needs. “I really think that is what sums up this current mood or view of infrastructure funding,” Kozlik said.
Atlanta plans to ask voters to help fund a portion of a $1 billion infrastructure backlog without raising taxes.
Financial guarantors that insure $15 billion of Puerto Rico bonds have taken a drubbing in the stock market as the island's debt restructuring law triggered a series of credit downgrades.  more »
Bond lawyers and issuers are frustrated that the Securities and Exchange Commission did not specify the disclosure failures that led to its settlement with a California school district on Tuesday. They said it leaves them with no helpful guidance on what kinds of disclosures the SEC is focusing on in its Municipalities Continuing Disclosure Cooperation voluntary enforcement initiative.  more »
Wisconsin is prepping more than $500 million in general obligation bonds for sale this summer beginning with a competitive issue for $255 million of new money Wednesday.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$300,000
Mass Sch Bldg Auth
MA
BANs
07/10/14
11am ET
$254,805
Wisconsin
WI
GOs
07/09/14
11am ET
$251,730
Mass Port Auth
MA
Revs
07/09/14
9am ET
$250,000
Conn Health & Educ Facs
CT
GOs
07/09/14
9am ET
$250,000
Indiana Finance Auth
IN
GOs
07/09/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.90%
4.76%
5.40%
4.19%
20-Bond
4.31%
4.29%
5.03%
3.53%
11-Bond
4.04%
4.03%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
120-13
120-20
132-15
107-01
Average Price
104.61
104.80
105.42
84.90
Yield to Par Call
4.28
4.25
6.35
3.57
Yield to Maturity
4.60
4.59
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$254,805
Wisconsin
WI
GOs
07/09/14
11am ET
$165,000
Colorado
CO
TRANs
07/09/14
12pm ET
$55,000
Oakland
CA
TRANs
07/09/14
11:30am ET
$33,250
Bedford CSD
NY
GOs
07/09/14
11am ET
$25,005
Frontier CSD
NY
BANs
07/09/14
11:30am ET

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As many state and local governments across the country begin their July 1 fiscal year, a new federal law going into effect is of particular interest to municipal governments that issue bonds.

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