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Senate Clears Bill With BAB Payments

Jobs Measure Now Goes to President

By Lynn Hume, Peter Schroeder | Mar 18

The Senate voted 68 to 29 to pass a $17.6 billion jobs bill requiring the Treasury Department to provide BAB-style direct payments to municipal issuers of four types of tax-credit bonds, if they want them, instead of offering tax credits to investors. [FREE]

Control by Covenant

Ravitch Talks Long-Term Budget Plan

By Ted Phillips | Mar 18

While much has been made of a deficit-borrowing proposal in New York, less attention has been paid to how those bonds would force fiscal discipline through bond covenants. [FREE]

Departments Allocate $11B of QSCBs

By Lynn Hume | Mar 18

The Treasury and Education departments allocated $11 billion of authority for states and large local educational agencies to issue $11 billion of QSCBs this year.

Deal in Focus

Louisiana’s Unsettled Budget Outlook Casts Cloud Over Upcoming Session

By Jim Watts | Mar 18

When the Louisiana Legislature convenes for its 2010 session in 11 days, lawmakers may face a budget situation that is worse than anticipated just three months ago.

This Week's Top 5 Issues

Amount Issuer St Description Sale
Date
Sale
Time
$900,000
New York City
NY
GOs
03/18/10 9am ET
$500,000
N.Y. MTA
NY
Dedicated tax bonds
03/17/10 9am ET
$436,720
San Francisco Airport
CA
Revenue bonds
03/17/10 9am ET
$360,215
NYC MWFA
NY
Revenue bonds
03/16/10 9am ET
$354,500
Calif. State U.
CA
Revenue bonds
03/17/10 9am ET

Weekly Indexes

  Current Previous High (last 12-months) Low (last 12-months)
Rev. Bond 4.92% 4.93% 5.90% 4.69%
20-Bond 4.33% 4.34% 5.16% 3.94%
11-Bond 4.06% 4.06% 4.94% 3.69%
1-Yr. Note 0.39% 0.40% 1.09% 0.39% (all time)

Today's Top Competitive Issues

Amount Issuer St Description Sale
Date
Sale
Time
$75,000
New York City
NY
Taxable GOs
03/18/10 11am ET
$66,075
Boston
MA
GOs
03/18/10 10:30am ET
$39,995
Boston
MA
GOs
03/18/10 10:30am ET
$35,000
Wellesley
MA
GOs
03/18/10 11am ET
$30,905
Boston
MA
BABs
03/18/10 10:45am ET

Legislative Status Report (as of 03/12)

This chart includes legislation introduced in the 111th Congress, which convened in January and extends through the end of 2010. Any bill introduced in the two-year period remains active until the session ends.

Tax Rates

State Tax Treatment of
Municipal Bond Interest: 2009

2009 in Statistics

Full-year statistical review of new bond issuance rankings nationwide.