Far West

Municipal bond market participants, on guard against proposals to limit or eliminate the tax exemption, doubt 2014 will bring comprehensive tax reform.

As Fresno, Calif. continues to struggle with a weak economy, rising labor costs, and falling bond ratings, market participants express concerns of bankruptcy risk.

Municipal advisor regulations are likely to be the focus of intense debate in 2014, as the Municipal Securities Rulemaking Board labors to release rules and broker-dealer groups continue to push for interpretations favorable to underwriters.

After almost a year of anticipation, the long-looming ominous cloud of a Federal Reserve taper finally broke on the municipal market last week. The ensuing storm has been but a whimper, said Bank of America's Phil Fischer.

The five-day trial to settle a rate dispute between the San Diego County Water Authority and its wholesale water supplier ended without the judge making a ruling.

San Jose, Calif. cannot make voter approved pension cuts, but it can reduce pay to help fund higher retirement costs, a judge ruled on Monday.

State budgets seem to be "stabilizing and settling into a period of modest growth," but recovery from the Great Recession is still "a work in progress," a report from the National Conference of State Legislatures found.

Municipal advisor regulations are likely to be the focus of intense debate in 2014, as the Municipal Securities Rulemaking Board labors to release rules and broker-dealer groups continue to push for interpretations favorable to underwriters.

Community Medical Center in Missoula, Mont., maintained its Baa2 rating, but received a negative outlook from Moody's.

Moody's Investors Service downgraded the GOs of El Rancho Unified School District, Calif., A2 from A1 and gave the district a negative outlook.