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As the issuance of green municipal bonds climbs this week, the bonds performance in the secondary market shows mixed results.
Indiana officials assured Hoosiers that the bankruptcy of the private operator of the Indiana Toll Road would not hurt the state, but one analyst warned that "aggressive" toll rates in the original lease could spell long-term problems.  more »
The Securities and Exchange Commission has charged Barclays Capital Inc. with failing to maintain an adequate internal compliance system after it acquired the advisory business of Lehman Brothers in September 2008.  more »
Transportation advocates want to put the kibosh on congressional proposals to slash the federal gasoline tax and turn over almost all highway funding to the states.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$2,090,000
California
CA
GOs
09/23/14
9am ET
$2,000,000
New York City STARC
NY
Revenue bonds
09/23/14
9am ET
$500,000
Texas Pub Fin Auth
TX
Revenue bonds
09/23/14
9am ET
$400,000
Massachusetts
MA
RANs
09/23/14
10am ET
$400,000
Massachusetts
MA
RANs
09/23/14
10:15am ET
Index
Current
Previous
High
Low
Rev. Bond
4.90%
4.86%
5.40%
4.19%
20-Bond
4.17%
4.14%
5.03%
3.53%
11-Bond
4.02%
3.99%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
123-16
123-12
132-15
107-01
Average Price
107.18
107.07
107.67
84.90
Yield to Par Call
3.93
3.95
6.35
3.57
Yield to Maturity
4.44
4.45
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$400,000
Massachusetts
MA
RANs
09/23/14
10am ET
$400,000
Massachusetts
MA
RANs
09/23/14
10:15am ET
$400,000
Massachusetts
MA
RANs
09/23/14
10:30am ET
$81,680
Virginia PSA
VA
Revenue bonds
09/23/14
11am ET
$42,707
Ocean County
NJ
GOs
09/23/14
11am ET

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Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

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