News and Information from Bond Buyer

Puerto Rico Gov. Ricardo Rosselló’s office blasted the president of the University of Puerto Rico for failing to provide information expected to be used to slash the university’s subsidy.

Municipal investors at client meetings with BlackRock are expressing more concern about rising interest rates than about the potential impact of tax reform – to the surprise of officials in the firm’s muni group.

PHOENIX - Legislation that would raise gasoline and other taxes to fund California transportation infrastructure is a step closer to passage after a committee vote Tuesday, in a sign of life for transportation after the legislature failed to pass a funding bill last session.

Bipartisan caucus of lawmakers wants to meet with President Trump on developing consensus tax reform, infrastructure legislation.

Issuers across the Southeast brought $71.7 billion of municipal bonds to market in 2016, a 3.3% year-over-year increase that was generated largely by refundings.

Top-quality municipal bonds again finished weaker Wednesday, according to traders, as yields on some maturities ended as much as six basis points higher.

The three interest rate hikes projected in the Federal Reserve Summary of Economic Projections is a starting point for this year if the economy grows as projected, Federal Reserve Bank of Boston President and CEO Eric S. Rosengren said Wednesday.

Top-quality municipal bonds weakened substantially at mid-session, according to traders, as some yields rose by as much as six basis points.

Former Securities and Exchange Commission chair Mary Jo White, who oversaw multiple first-of-their-kind enforcement actions in the municipal market, rejoined Debevoise & Plimpton as the firm's senior chair on Wednesday.

Indicator Last Report Forecast Actual CPI Dec.: +0.3% Jan.: +0.3% Jan.: +0.6% CPI Core Dec.: +0.2% Jan.: +0.2% Jan.: +0.3% Empire State Manufacturing Jan.: 6.5 Feb.: 7.0 Feb.: 18.7 Retail Sales Dec.: +1.0% Jan.: +0.1% Jan.: +0.4% ex-Autos Dec.: +0.4% Jan.: +0.4% Jan.: +0.8% Industrial Production Dec.: +0.6% Jan.: unch Jan.: -0.3% Capacity Utilization Dec.: 75.6% Jan.: 75.5% Jan.: 75.3% Business Inventories Nov.: +0.8% Dec.: +0.4% Dec.: +0.4% NAHB Housing Index Jan.: 67 Feb.: 67 Feb.: 65

After a busy day Tuesday that saw most of the larger deals come to market, traders will be looking for a few more of the week's larger transactions to hit screens.

Builders' confidence in the market for new single-family homes dipped as the National Association of Home Builders' housing market index fell to 65 in February from 67 in January.

Industrial production was down 0.3% in January, the Federal Reserve reported Wednesday.

The Empire State Manufacturing Survey showed "business activity expanded at a solid clip in New York State," the Federal Reserve Bank of New York reported Wednesday, as the general business conditions index increased to 18.7 in February from 6.5 in January.

Feb. 15, 2017 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB/BBB 2.21 3.8 4.57 5.15 Indiana Aaa/AAA/AA+ 0.86 1.61 2.44 3.21 Iowa Aaa/AAA/AAA 0.86 1.6 2.42 3.19 Michigan Aa1/AA-/AA 0.91 1.69 2.54 3.33 Minnesota Aa1/AA+/AAA 0.87 1.58 2.36 3.1 Missouri Aaa/AAA/AAA 0.86 1.55 2.33 3.1 Nebraska NR/AAA/NR 0.86 1.63 2.49 3.29 North Dakota Aa1/AA+/NR 0.89 1.66 2.52 3.29 Ohio Aa1/AA+/AA+ 0.88 1.61 2.47 3.26 South Dakota NR/AA+/AAA 0.88 1.63 2.52 3.31 Wisconsin Aa2/AA/AA 0.88 1.62 2.48 3.27

2/14/2017 2/7/2017 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 11 $113,925 6 $65,587 $48,338 Indiana 7 126,375 5 50,360 76,015 Iowa 5 58,880 5 90,180 -31,300 Michigan 9 79,845 16 109,490 -29,645 Minnesota 17 141,885 20 212,587 -70,702 Missouri 6 150,310 3 154,650 -4,340 Nebraska 2 99,875 5 84,495 15,380 North Dakota 0 0 1 5,000 -5,000 Ohio 5 271,420 6 260,255 11,165 South Dakota 1 3,965 1 3,965 0 Wisconsin 13 196,240 21 206,930 -10,690

Wednesday, February 15 Issuer St Description Amount

Wednesday, February 15 Issuer St Description Amount

Week Of February 13 Issuer St Description Amount