News and Information from Bond Buyer

The sovereign powers and strong general obligation repayment statute supporting Illinois’ investment-grade ratings are being tested by budget gridlock and what one analyst describes as approaching “service level insolvency.”

Private investment plan revives long-stalled Oklahoma highway project to complete a road loop around Tulsa.

The SEC wants a Puerto Rico federal court to agree that Jose Ramirez, a former UBS Puerto Rico employee, engaged in a scheme to defraud investors in closed-end funds with large investments in Puerto Rico bonds.

The Treasury Department Tuesday sold $35 billion 35-day cash management bills, dated March 16, due April 20, at a 0.780% high tender rate.

Top-shelf municipal bonds were slightly weaker on Tuesday around midday, as yields on some maturities were as many as one basis point higher while the long end of the curve is steady, according to traders who said they saw a flurry of activity.

Indicator Last Report Forecast Actual PPI Jan.: +0.6% Feb.: +0.1% Feb.: +0.3% PPI Core Jan.: +0.4% Feb.: +0.2% Feb.: +0.3%

The Treasury Department Tuesday auctioned $55 billion of four-week bills at a 0.770% high yield, a price of 99.940111.

Hartford Mayor Luke Bronin's State of the City speech acknowledged progress over the past year, even as large deficits hover over Connecticut's capital.

Municipal bond traders are ready for new issuance, but it remains to be seen if all scheduled deals will price as planned as a major winter storm blankets the northeast. Market participants who braved the weather to get into their offices will be waiting to see if any more deals get postponed due to weather-related issues.

Despite a dip to 105.3 in February from 105.9 in January, the National Federation of Independent Business' monthly Small Business Optimism index published Tuesday, stayed near a 43-year high.

The past 20 years have seen a transformation in the municipal market, marked by technological advances, tougher regulation and an increase in credit quality concerns.

The producer price index was up 0.3% in February on a seasonally adjusted basis, while the core rate, which excludes food and energy rose 0.3%, the Labor Department reported Tuesday.

The Federal Open Market Committee will meet Tuesday and Wednesday as planned, the Federal Reserve announced Tuesday.

Mar. 14, 2017 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 0.84 1.77 2.67 3.47 Arkansas Aa1/AA/NR 0.82 1.72 2.6 3.39 Colorado Aa1/AA/NR 0.82 1.76 2.66 3.46 Kansas Aa2/AA/NR 0.82 1.77 2.69 3.48 New Mexico Aa1/AA/NR 0.81 1.7 2.57 3.36 Oklahoma Aa2/AA/AA+ 0.83 1.81 2.69 3.48 Texas Aaa/AAA/AAA 0.81 1.73 2.66 3.47 Utah Aaa/AAA/AAA 0.79 1.65 2.47 3.24

3/13/2017 3/6/2017 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 2 $100,735 6 $177,070 -$76,335 Arkansas 2 26,530 3 134,730 -108,200 Colorado 7 423,186 3 292,350 130,836 Kansas 7 72,400 5 30,125 42,275 New Mexico 1 3,000 1 22,850 -19,850 Oklahoma 11 58,775 15 119,255 -60,480 Texas 27 372,375 30 588,313 -215,938 Utah 2 89,000 1 12,000 77,000

Tuesday, March 14 Issuer St Description Amount

Tuesday, March 14 Issuer St Description Amount

Week Of March 13 Issuer St Description Amount

Week Of March 13 Issuer St Description Amount

IOWA