News and Information from Bond Buyer

An overhaul meant to save Chicago's municipal employees' and laborers' pension funds from looming insolvency won state Senate approval Monday but faces veto threat.

Municipal bond traders are set to see new deals start to hit the screens on Tuesday, as several issues of size are ready to come to market.

Small business owners' optimism soared to its highest level since 2004 as the December index was 105.8, up from November's 98.4, according to the National Federation of Independent Business' monthly Small Business Optimism index released Tuesday.

Tuesday, January 10 Issuer St Description Amount

Tuesday, January 10 Issuer St Description Amount

Week Of January 9 Issuer St Description Amount

MISSOURI

Jan. 10, 2017 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 1.02 1.82 2.44 3.23 Arkansas Aa1/AA/NR 1 1.78 2.37 3.15 Colorado Aa1/AA/NR 1 1.81 2.43 3.22 Kansas Aa2/AA/NR 1 1.82 2.46 3.24 New Mexico Aa1/AA/NR 0.99 1.75 2.34 3.12 Oklahoma Aa2/AA+/AA+ 1.01 1.86 2.46 3.24 Texas Aaa/AAA/AAA 0.99 1.8 2.39 3.17 Utah Aaa/AAA/AAA 0.97 1.7 2.24 3

IOWA

1/9/2017 1/2/2017 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 3 $210,975 2 $183,915 $27,060 Arkansas 3 12,020 0 0 12,020 Colorado 8 950,060 5 675,375 274,685 Kansas 3 16,645 3 16,645 0 New Mexico 2 16,020 0 0 16,020 Oklahoma 6 15,830 12 21,510 -5,680 Texas 50 1,728,525 33 1,771,825 -43,300 Utah 5 200,920 2 10,495 190,425

Illinois Senate leaders said they will work to pass by Feb. 1 their so-called "grand bargain" plan aimed at breaking the year-and-a-half old budget logjam that's driven the state's unpaid bill backlog to $11 billion and dragged its ratings down to the lowest among states.

Government

Nebraska Gov. Pete Ricketts will deliver his State of the State address Thursday, which will focus on the release of a new two-year budget and his plan to deal with a $276 million deficit in the current budget.

New York State will be closing its aging Indian Point Power Plant ahead of schedule, Gov. Andrew Cuomo announced in a state of the state address Monday.

Top-quality municipal bonds finished stronger on Monday, according to traders, ahead of this week’s $8.7 billion new issue slate.

Bank of America Merrill Lynch and Public Financial Management Inc. widened their leads in municipal market rankings in a record-setting year for issuance.

Jessica Soltz Rudd will replace public finance veteran John Tillapaugh as business development manager in Fitch Ratings’ Western Region.

A second state appeals court decision in California that rejects a rigid interpretation of the so-called “California Rule” of vested rights has boosted the hopes of those who want to change public pension formulas in the Golden State.

The Municipal Securities Rulemaking Board’s net assets in fiscal 2016, similar to those for the previous year, are still close to triple where they were in 2010, even after a $5.5 million rebate the self-regulator gave dealers this past year.

Indicator Last Report Forecast Actual Consumer Credit Oct.: +$16.2B Nov.: +18.43B Nov.: +24.5B