News and Information from Bond Buyer

A potential budget wall between TxDOT and a proposed bullet train could halt the $12 billion project.

George Friedlander explains why the Joint Committee on Taxation has it all wrong on munis.

Top-rated municipal bonds were stronger at mid-session, according to traders, who were looking ahead to a week in which $4.5 billion of bonds are slated to come to market.

The New Jersey Educational Facilities Authority achieved record bond volume in 2016, the higher education conduit issuer announced Friday.

Beset by a slumbering energy economy, Oklahoma City is counting on its top bond ratings to attract investors to $90 million of general obligation paper it is selling competitively.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.760% high rate, down from 0.780% the prior week, and the six-months incurred an 0.890% high rate, off from 0.910% the week before.

The Treasury Department said Monday it will sell $55 billion of four-week discount bills Tuesday.

Fewer consumers sought credit, and the number of those too discouraged to even apply grew, according to the quarterly Survey of Consumer Expectations (SCE) Credit Access Survey, released by the Federal Reserve Bank of New York Monday.

Last week's rate hike by the Federal Open Market Committee, was "prudent," Federal Reserve Bank of Philadelphia President Patrick T. Harker said in a televised interview Monday.

After yields dropped on the long end the last three days of last week, municipal market participants have started to eye the upcoming light $4.5 billion calendar.

Indicator Last Report Forecast Actual Current Account Q3: -$116.0B Q4: -$128.3B Q4: -$112.4B

Three rate hikes by the Federal Reserve this year is "entirely possible," Federal Reserve Bank of Chicago President Charles Evans said in a televised interview Monday.

The Chicago Fed National Activity Index for February increased to positive 0.34 from an upwardly revised negative 0.02 in January, first reported as negative 0.05, while the three-month moving average (CFNAI-MA3) soared to positive 0.25 from an upwardly revised positive 0.07 in January, first reported as negative 0.03, the Federal Reserve Bank of Chicago reported Monday.

Mar. 20, 2017 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA-/AA- 1.06 2.22 3.17 3.9 Delaware Aaa/AAA/AAA 0.86 1.66 2.41 3.19 Maine Aa2/AA/AA 0.86 1.73 2.53 3.33 Maryland Aaa/AAA/AAA 0.86 1.69 2.45 3.2 Massachusetts Aa1/AA+/AA+ 0.89 1.75 2.6 3.4 New Hampshire Aa1/AA/AA+ 0.88 1.75 2.54 3.32 New Jersey A2/A/A 1.26 2.55 3.44 4.18 New York Aa1/AA+/AA+ 0.86 1.7 2.51 3.37 Pennsylvania Aa3/AA-/AA- 1.01 2.22 3.07 3.85 Rhode Island Aa2/AA/AA 0.9 1.79 2.67 3.49 Vermont Aaa/AA+/AAA 0.86 1.68 2.44 3.21 Dist. of Columbia Aa1/AA/AA 0.89 1.76 2.6 3.43 Puerto Rico Caa3/CC/CC 51.27 16.67 11.87 8.9

3/17/2017 3/10/2017 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 0 $0 1 $3,600 -$3,600 Delaware 0 0 0 0 0 Maine 1 10,000 2 12,929 -2,929 Maryland 1 32,510 2 45,110 -12,600 Massachusetts 1 2,735 1 36,925 -34,190 New Hampshire 1 11,000 3 45,194 -34,194 New Jersey 8 248,223 3 61,448 186,775 New York 15 888,116 13 2,637,665 -1,749,549 Pennsylvania 15 289,650 14 485,610 -195,960 Rhode Island 2 54,400 3 90,100 -35,700 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 1 750,000 1 750,000 0

Tuesday, March 21 Issuer St Description Amount

Monday, March 20 Issuer St Description Amount

Week Of March 20 Issuer St Description Amount

Week Of March 20 Issuer St Description Amount