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Long-term municipal bond issuance in June surged 9%, marking the second straight month when volume was increased year-over-year following eight months of decreased volume. Refundings played a big role once again, as interest rates fell.
Puerto Rico's government proper will pay about $300M towards its debt due July 1, according to sources.  more »
President Obama signed the Puerto Rico relief bill Thursday, paving the way for the appointment of an oversight board and the first steps in what legislators and observers agree will be a long process of bolstering the commonwealth’s fiscal health.  more »
Top rated municipal bonds were stronger on Friday, according to traders, as yields fell by as much as four basis points in an abbreviated trading session.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$750,000
South Carolina PSA
SC
Revs
06/29/16
9am ET
$564,000
San Antonio
TX
Revs
06/28/16
9am ET
$535,125
Washington
WA
GOs
06/28/16
10:30am ET
$441,000
Massachusetts
MA
GOs
06/29/16
9am ET
$392,265
Washington
WA
GOs
06/28/16
11:30am ET
Index
Current
Previous
High
Low
Rev. Bond
3.52%
3.52%
5.40%
3.38%
20-Bond
3.18%
3.18%
5.03%
3.18%
11-Bond
2.70%
2.70%
4.75%
2.70%
 
Current
Previous
High*
Low*
BB40 Index
135-08
135-08
135-10
107-01
Average Price
114.06
114.08
114.30
84.90
Yield to Par Call
2.60
2.60
6.35
2.60
Yield to Maturity
3.75
3.75
5.34
3.73

(* for calendar year)

There are no competitive bond sales over $1 million scheduled for July 1, 2016.


Carl Weisbrod, Director of the New York City Department of City Planning, joins Bond Buyer Senior Markets Reporter Chip Barnett to talk about the surge in NYC’s population and corresponding employment growth and why economic growth is dependent upon affordable housing for workers.

Municipalities buy insurance to obtain a higher credit rating for a bond issue and a commensurately lower borrowing cost. The savings arise from a lower coupon or, if the coupon is fixed, a higher price. But how can municipalities make sure that bond insurance makes economic sense for them? The answer is to pay close attention to the costs and benefits.

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