News and Information from Bond Buyer

Municipal market participants will start to look ahead after a week that was all about the Federal Open Market Committee and its decision to increase interest rates.

With slack remaining in the labor market and inflation still below the Fed's 2% target, Federal Reserve Bank of Minneapolis President Neel Kashkari voted against raising the fed funds target rate this week.

Industrial production was flat in February, the Federal Reserve reported Friday.

Mar. 17, 2017 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aa2/AA+/AA+ 0.93 1.99 2.9 3.71 California Aa3/AA-/AA- 0.84 1.84 2.77 3.51 Hawaii Aa1/AA+/AA 0.84 1.79 2.64 3.41 Idaho Aa1/AA+/AA+ 0.83 1.78 2.63 3.4 Montana Aa1/AA/AA+ 0.83 1.77 2.64 3.42 Nevada Aa2/AA/AA+ 0.86 1.81 2.65 3.45 Oregon Aa1/AA+/AA+ 0.85 1.73 2.54 3.32 Washington Aa1/AA+/AA+ 0.85 1.81 2.69 3.49 Wyoming NR/AAA/NR 0.83 1.74 2.55 3.31

3/16/2017 3/9/2017 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 $0 0 $0 $0 California 27 997,685 25 1,265,415 -267,730 Hawaii 0 0 0 0 0 Idaho 0 0 0 0 0 Montana 0 0 0 0 0 Nevada 2 97,980 1 148,135 -50,155 Oregon 5 323,790 0 0 323,790 Washington 3 433,505 3 325,235 108,270 Wyoming 1 90,000 1 90,000 0

Tuesday, March 21 Issuer St Description Amount

Monday, March 20 Issuer St Description Amount

Week Of March 20 Issuer St Description Amount

Friday, March 17 Issuer St Description Amount

CALIFORNIA

CALIFORNIA

Lowered discount rates from California’s two largest pension funds mean short-term pain for cities and the state, but a sounder fiscal picture long-term, according to S&P analysts.

Government

In the week ended March 16, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose two basis points to 4.34% from 4.32%.

Top-shelf municipal bonds finished Thursday stronger, as yields lowered by as many as three basis points in some maturities, according to traders who saw the last issuance of the week come to market.

Market participants gathered at The Bond Buyer and Bond Dealers of America’s National Municipal Bond Summit expressed concerns with the broad nature of the SEC’s proposal to add two material events to Rule 15c2-12 that would also emphasize the need to make materiality determinations.

The cost of health care in Texas is rising faster than both the general inflation rate and the growth of the state's population, but state leaders have provided little guidance on how to address major changes that may be coming this year.

As tax reform is uncertain, it's more important than ever to keep up the good fight for tax-exempt bonds.

Despite pressure to slow down the approval process, the Cuyahoga City Council plans to vote March 28 on a $140 million debt issue to finance renovations to the Quicken Loans Arena.

One of the only intermodal freight facilities to take advantage of a special 12-year-old federal private activity bond program is readying its fourth round of financing.