News and Information from Bond Buyer

In a low-safe-real-interest-rate environment and with the question of how the Trump administration's policies will play out, the Federal Open Market Committee doesn't need to raise rates aggressively, Federal Reserve Bank of St. Louis President James Bullard said late Tuesday.

Mar. 1, 2017 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB/BBB 1.8 3.65 4.44 5.01 Indiana Aaa/AAA/AA+ 0.8 1.56 2.41 3.17 Iowa Aaa/AAA/AAA 0.8 1.55 2.39 3.15 Michigan Aa1/AA-/AA 0.85 1.64 2.51 3.29 Minnesota Aa1/AA+/AAA 0.81 1.53 2.33 3.06 Missouri Aaa/AAA/AAA 0.8 1.5 2.3 3.06 Nebraska NR/AAA/NR 0.8 1.58 2.46 3.25 North Dakota Aa1/AA+/NR 0.83 1.61 2.49 3.25 Ohio Aa1/AA+/AA+ 0.82 1.56 2.44 3.23 South Dakota Aaa/AA+/AAA 0.82 1.58 2.49 3.27 Wisconsin Aa2/AA/AA 0.82 1.58 2.44 3.23

2/28/2017 2/21/2017 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 1 $11,845 5 $83,135 -$71,290 Indiana 6 115,570 5 48,900 66,670 Iowa 4 13,825 7 101,625 -87,800 Michigan 10 54,760 8 142,170 -87,410 Minnesota 18 139,285 22 160,280 -20,995 Missouri 2 11,415 7 42,035 -30,620 Nebraska 2 104,695 2 99,875 4,820 North Dakota 0 0 0 0 0 Ohio 12 212,424 4 118,470 93,954 South Dakota 1 3,965 1 3,965 0 Wisconsin 25 626,980 23 328,205 298,775

Wednesday, March 1 Issuer St Description Amount

Wednesday, March 1 Issuer St Description Amount

Week Of February 27 Issuer St Description Amount

ARKANSAS

ARKANSAS

Puerto Rico Gov. Ricardo Rosselló said he would be handing in a 10-year fiscal plan that avoids cuts to essential government services.

A two-year Indiana state budget is moving to the Senate after gaining approval in the House.

Government

New Jersey Gov. Chris Christie proposed in his final budget address Tuesday directing $13 billion from New Jersey Lottery into eligible pension funds to help bolster the state’s underfunded pension system.

Brookings Institution has extended its deadline for proposals for its sixth annual municipal finance conference to March 6.

Lagging Nebraska tax revenue resulted in a new cut to the state’s revenue forecast.

Minnesota Gov. Mark Dayton and lawmakers got the good news Tuesday in a fresh revenue forecast that adds $250 million to the state’s more than billion dollar surplus.

Top-quality municipal bonds ended unchanged, according to traders, as New York City floated a big water deal on Tuesday. Meanwhile, California is set to hit the market with the biggest bond deal of 2017 when it sells $2.4 billion of various purpose general obligation bonds the week of March 6.

The Federal Open Market Committee's March meeting should include a "serious" discussion of a rate hike, Federal Reserve Bank of San Francisco President and CEO John C. Williams said Tuesday.

Three rate increases should be appropriate this year if conditions are as expected, Federal Reserve Bank of Philadelphia President and CEO Patrick Harker said Tuesday.

Saying lawmakers have failed to offer alternatives to address West Virginia’s $500 million budget gap, Gov. Jim Justice revised his fiscal 2018 budget to propose new taxes on sugary sodas, cigarettes, and wealthy state residents.

Municipal bond volume plunged 34.9% in February, more than some analysts expected, as refunding transactions dried up and the market waited for details on President Trump’s infrastructure plans.