News and Information from Bond Buyer

The New York State Common Retirement Fund returned 1.1% overall in the fiscal 2017 third quarter that ended Dec. 31, 2016, Comptroller Thomas DiNapoli announced Monday.

A Trump executive order to pull back rules and the costs they impose encourages independent agencies like the Securities and Exchange Commission to review their rules even though the order does not apply to them, according to guidance issued Monday.

Fitch Ratings said it has downgraded the ratings on the following U.S. Virgin Islands (USVI) Water and Power Authority (WAPA) revenue bonds: $118,850,000 electric system revenue bonds, series 2012A, 2010A, 2010B, 2010C, 2003 to CCC from B-plus; and $96,800,000 electric system subordinated revenue bonds, series 2007A, 2012B, 2012C to CCC from B.

Top-rated municipal bonds were stronger at mid-session, according to traders, who are set to see a more hefty new issue slate coming at them this week.

After a slow week in the primary that featured little action and few well-known names, the market is expected to get a jolt of chunky issuance from big names from the states of New York and California.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.530% high rate, up from 0.515% the prior week, and the six-months incurred a 0.620% high rate, down from 0.625% the week before.

The Treasury Department said Monday it will sell $45 billion of four-week discount bills Tuesday.

Steve Williamson and Chris Long have joined HJ Sims as senior vice presidents of fixed income sales, the firm announced on Monday.

Private placement bond deals helped push volume to record levels in 2016, even as some observers remain concerned about transparency and value in the deals.

In a critical year for the Texas health-care industry, the state's leaders have indicated no interest in tapping the state's growing rainy day fund to cover $1.2 billion in Medicaid underfunding.

The Federal Reserve's Labor Market Conditions Index, a compilation of 19 labor market measures, rose 1.3 points in January from a revised 0.6-point gain in December, first reported as 0.3-point drop.

The Conference Board's Employment Trends Index (ETI) grew to 130.04 in January from a downwardly revised 129.73 in December, and is up 2.4% from a year ago, the group announced Monday.

Municipal bond traders are set to see a more hefty new issue slate coming at them this week. Total volume is estimated at $7.49 billion in a calendar comprised of $6.13 billion of negotiated deals and $1.36 billion of competitive sales.

Feb. 6, 2017 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA-/AA- 1.1 2.1 3.01 3.8 Delaware Aaa/AAA/AAA 0.9 1.61 2.32 3.08 Maine Aa2/AA/AA 0.92 1.68 2.44 3.22 Maryland Aaa/AAA/AAA 0.9 1.63 2.35 3.09 Massachusetts Aa1/AA+/AA+ 0.92 1.7 2.49 3.29 New Hampshire Aa1/AA/AA+ 0.92 1.7 2.45 3.21 New Jersey A2/A/A 1.3 2.54 3.29 4.04 New York Aa1/AA+/AA+ 0.9 1.65 2.42 3.26 Pennsylvania Aa3/AA-/AA- 1.08 2.09 3.01 3.74 Rhode Island Aa2/AA/AA 0.95 1.8 2.64 3.43 Vermont Aaa/AA+/AAA 0.9 1.63 2.35 3.1 Dist. of Columbia Aa1/AA/AA 0.93 1.7 2.5 3.3 Puerto Rico Caa3/CC/CC 38.6 14.62 10.53 8.19

2/3/2017 1/27/2017 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 0 $0 2 $28,860 -$28,860 Delaware 1 40,015 1 39,940 75 Maine 0 0 0 0 0 Maryland 1 63,800 3 231,055 -167,255 Massachusetts 2 54,056 1 25,000 29,056 New Hampshire 0 0 0 0 0 New Jersey 3 88,276 1 3,386 84,890 New York 12 1,156,025 15 453,888 702,137 Pennsylvania 16 382,175 12 314,860 67,315 Rhode Island 1 40,000 1 40,000 0 Vermont 0 0 0 0 0 District of Columbia 0 0 2 300,000 -300,000 Puerto Rico 1 750,000 1 750,000 0

Monday, February 6 Issuer St Description Amount

Monday, February 6 Issuer St Description Amount

Week Of February 6 Issuer St Description Amount

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ARIZONA