News and Information from Bond Buyer

The composite index of Leading Economic Indicators was up 0.5% in December following an unrevised 0.1% increase in November, the Conference Board reported Thursday.

Municipal bond traders are set to see some the week's biggest new deals hit the market on Thursday, with a slate topped off from an issuer in Maryland.

The Chicago Fed National Activity Index for December rebounded to positive 0.14 from a downwardly revised negative 0.33 in November, first reported as negative 0.27, while the three-month moving average (CFNAI-MA3) narrowed to negative 0.07 from an unrevised negative 0.14 in November, the Federal Reserve Bank of Chicago reported Thursday.

Jan. 26, 2017 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB/BBB+ 2.25 3.91 4.6 5.11 Indiana Aaa/AAA/AA+ 0.9 1.72 2.44 3.17 Iowa Aaa/AAA/AAA 0.9 1.71 2.42 3.15 Michigan Aa1/AA-/AA 0.95 1.8 2.54 3.29 Minnesota Aa1/AA+/AAA 0.91 1.68 2.36 3.06 Missouri Aaa/AAA/AAA 0.9 1.66 2.33 3.06 Nebraska NR/AAA/NR 0.9 1.74 2.49 3.25 North Dakota Aa1/AA+/NR 0.93 1.77 2.52 3.25 Ohio Aa1/AA+/AA+ 0.92 1.74 2.47 3.21 South Dakota NR/AA+/AAA 0.92 1.74 2.52 3.27 Wisconsin Aa2/AA/AA 0.92 1.73 2.49 3.23

1/24/2017 1/17/2017 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 14 $296,908 14 $1,447,440 -$1,150,532 Indiana 8 152,260 8 163,370 -11,110 Iowa 0 0 1 3,400 -3,400 Michigan 17 221,265 25 361,100 -139,835 Minnesota 12 103,435 18 275,775 -172,340 Missouri 1 5,060 4 72,890 -67,830 Nebraska 1 4,695 3 14,815 -10,120 North Dakota 3 20,500 1 3,310 17,190 Ohio 3 118,990 2 82,170 36,820 South Dakota 1 3,965 1 3,965 0 Wisconsin 14 65,230 17 171,995 -106,765

Thursday, January 26 Issuer St Description Amount

Thursday, January 26 Issuer St Description Amount

Week Of January 23 Issuer St Description Amount

CALIFORNIA

CALIFORNIA

New York State will be well positioned to withstand a potential moderate economic downtown and federal funding uncertainties if lawmakers adopt Gov. Andrew Cuomo’s proposed 2018 budget, according to S&P Global Ratings.

A reappraisal of Detroit property taxes means that more than half of homeowners will see a reduction in taxes for the fourth year in a row, which could help the city’s post-bankruptcy economic prospects as more property owners keep current.

Government

Illinois’ 18-month-old state budget deadlock showed little sign of easing Wednesday as Gov. Bruce Rauner delivered his third State of State address with Senate leaders struggling to build support for a bipartisan solution and House Democrats renewing their attacks on the governor's agenda.

The Virgin Islands Water and Power Authority’s senior bond was downgraded three notches by Moody’s Investor’s Service over the utility’s dependence on a weak local economy.

Two new partners at Jones Hall, a California public finance law firm, want to grow the firm’s water/wastewater and public-private partnership business.

President Trump’s broadsides against Mexican immigrants and trade have not triggered rating agency action on border credits, which, in several cases, have seen upgrades.

President Trump’s nominee for Treasury Secretary Steven Mnuchin told lawmakers in writing that he plans to “enhance” private activity bonds so that they can be used to encourage more private investment in infrastructure projects.

Michigan needs to do more to help cities control the costs of infrastructure and healthcare spending, the Michigan Municipal League says in a new report.

Top-quality municipal bonds finished weaker on Wednesday, traders said, as more supply hit the market, topped by issuers in California.