News and Information from Bond Buyer

Existing home sales grew 3.3% to a seasonally adjusted 5.69 million-unit rate in December from an upwardly revised 5.51 million sales pace the previous month, initially reported as 5.49 million, the National Association of Realtors announced Wednesday.

Municipal bond traders are looking to see new deals hit the market on Wednesday, led off by some taxable sales from issuers in Alabama and California.

Wednesday, February 22 Issuer St Description Amount

Wednesday, February 22 Issuer St Description Amount

Week Of February 21 Issuer St Description Amount

NEBRASKA

MINNESOTA

Feb. 22, 2017 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 0.91 1.72 2.61 3.37 Arkansas Aa1/AA/NR 0.89 1.68 2.54 3.29 Colorado Aa1/AA/NR 0.89 1.71 2.6 3.36 Kansas Aa2/AA/NR 0.89 1.72 2.63 3.38 New Mexico Aa1/AA/NR 0.88 1.65 2.51 3.26 Oklahoma Aa2/AA+/AA+ 0.9 1.76 2.63 3.38 Texas Aaa/AAA/AAA 0.87 1.69 2.62 3.35 Utah Aaa/AAA/AAA 0.86 1.6 2.41 3.14

2/20/2017 2/13/2017 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 6 $248,645 4 $197,875 $50,770 Arkansas 1 8,000 0 0 8,000 Colorado 1 7,470 7 154,091 -146,621 Kansas 4 18,450 2 12,145 6,305 New Mexico 3 145,490 1 57,435 88,055 Oklahoma 11 297,330 8 95,890 201,440 Texas 23 288,005 36 505,535 -217,530 Utah 2 30,000 3 59,860 -29,860

Government

New York City Mayor Bill de Blasio signed legislation that assigns the Independent Budget Office to create a report on the $2.8 billion of economic development tax breaks the city awards annually. The mayor also signed legislation that expands the boundaries of the DUMBO Business Improvement District.

The Puerto Rico General Fund collected 21% more net revenues in January than budgeted.

Build America Mutual published its full year and fourth quarter financial reports, as the bond insurer saw both its claims-paying resources rise and generally accepted accounting principles pre-tax losses.

A decision to close the coal-fired Navajo Generating Station is a positive credit factor for its operator and co-owners, according to Moody's Investors Service.

Gov. Andrew Cuomo's planned $65 million cut in state aid to New York MTA worries authority board members.

Top-quality municipal bonds ended unchanged in quiet activity on Tuesday, according to traders, who returned to their desks after a three-day holiday weekend. Market participants will be looking ahead to a smaller-than-usual new issue calendar that will be pricing into a volatile yield environment.

Atlantic City is planning to issue $72 million in bonds to pay for its tax settlement with the Borgata casino.

Puerto Rico Gov. Ricardo Rosselló suggested Tuesday that the federal Oversight Board's plans for austerity may be against federal law.

Facing the loss of millions in federal funds, the Miami-Dade County Commission voted to comply with immigration authorities' orders to hold jailed undocumented inmates regardless of the cost to the county budget.

House members reintroduced a bill to modernize and ease tax law restrictions for small bond issues used to finance manufacturing facilities.