News and Information from Bond Buyer

Monday, January 9 Issuer St Description Amount

Week Of January 9 Issuer St Description Amount

INDIANA

Jan. 9, 2017 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA-/AA- 1.17 2.27 2.9 3.65 Delaware Aaa/AAA/AAA 0.97 1.71 2.23 2.98 Maine Aa2/AA/AA 0.99 1.78 2.35 3.12 Maryland Aaa/AAA/AAA 0.97 1.73 2.26 2.99 Massachusetts Aa1/AA+/AA+ 1.01 1.83 2.4 3.16 New Hampshire Aa1/AA/AA+ 1.01 1.82 2.36 3.11 New Jersey A2/A/A 1.32 2.47 3.14 3.89 New York Aa1/AA+/AA+ 0.98 1.76 2.34 3.18 Pennsylvania Aa3/AA-/AA- 1.15 2.2 2.9 3.64 Rhode Island Aa2/AA/AA 1.02 1.9 2.55 3.33 Vermont Aaa/AA+/AAA 0.97 1.73 2.26 3 Dist. of Columbia Aa1/AA/AA 1 1.83 2.43 3.2 Puerto Rico Caa3/CC/CC 45.97 16.22 11.64 8.49

1/6/2017 12/30/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 3 $375,000 1 $14,185 $360,815 Delaware 1 39,940 1 39,940 0 Maine 0 0 1 98,135 -98,135 Maryland 2 95,810 3 75,361 20,449 Massachusetts 2 22,305 1 10,945 11,360 New Hampshire 0 0 0 0 0 New Jersey 4 42,785 4 36,294 6,491 New York 9 1,849,393 9 1,183,885 665,508 Pennsylvania 19 633,470 9 758,660 -125,190 Rhode Island 1 40,000 1 40,000 0 Vermont 0 0 0 0 0 District of Columbia 0 0 1 311,520 -311,520 Puerto Rico 1 750,000 1 750,000 0

CALIFORNIA

Day Indicator Last Report Forecast Monday Consumer Credit Oct.: +$16.0B Nov.: +18.43B Tuesday Wholesale Inventories Oct.: -0.4% Nov.: +0.9% Tuesday Wholesale Sales Oct.: +1.4% Nov.: +0.5% Thursday Import Prices Nov.: -0.3% Dec.: +0.7% Thursday Export Prices Nov.: -0.1% Dec.: +0.1% Thursday Initial Claims 12/31: 235,000 1/07: 255,000 Thursday Continuing Claims 12/24: 2.112M 12/31: 2.088M Thursday Budget Statement Nov.: -$136.7B Dec.: -$21.0B Friday PPI Nov.: +0.4% Dec.: +0.3% Friday PPI Core Nov.: +0.4% Dec.: +0.2% Friday Retail Sales Nov.: +0.1% Dec.: +0.7% Friday ex-Autos Nov.: +0.2% Dec.: +0.5% Friday Business Inventories Oct.: -0.2% Nov.: +0.4% Friday Michigan Sentiment Dec.: 98.2 Jan.: 98.5

Government

Indiana’s Gov.-elect Eric Holcomb is eyeing the state’s existing $500 million Next Generation Trust Fund -- set up years ago from proceeds of the Indiana Toll Road Lease – to fund investments in entrepreneurship and to support early-stage and mid-size Indiana companies.

Municipal market participants will be getting something they have not seen in quite some time: significant issuance.

Six lawmakers are joining the powerful tax-writing House Ways and Means Committee, while two are joining its counterpart, the Senate Finance Committee.

The Campaign Legal Center is trying to convince a federal court overseeing a challenge brought by Republican groups that the Municipal Securities Rulemaking Board’s rule changes to prevent municipal advisors from engaging in pay-to-play practices are legal and needed to address the potential for corruption in the municipal market.

Wisconsin hits the market with its first sale of the New Year to refund $523.6 million of appropriation- backed bonds with hopes of hitting double digit savings even with the post-election rise in rates.

Newly issued Treasury securities held in stripped form increased about $41 million in December to a total of $233.866 billion, the Bureau of the Public Debt reported Friday.

Ohio will take competitive bids on $350 million of general obligation bonds Thursday in a deal to benefit schools.

Two or three rate hikes this year would be appropriate according to Federal Reserve Bank of Dallas President Robert Kaplan and Federal Reserve Bank of Chicago President Charles Evans, while Federal Reserve Bank of Richmond President Jeffrey M. Lacker rates may have to be raised "more briskly than markets currently anticipate," a view shared by Cleveland Fed President Loretta Mester.

Extending a temporary sales tax to keep Arkansas roads in good shape preferred by voters in new statewide funding study.

The recently enacted National Defense Authorization Act is a credit positive for privatized military housing project bonds, Moody’s Investors Service said in a comment released on Friday.

Fund managers' reaction to a possible repeal ranged from cautious to opportunistic, as President-elect Trump and lawmakers say they plan to transition to a new health care program.

Slow or no revenue growth has made it difficult for many local governments in New York State to maintain services while dealing with rising costs, according to a report released Friday by State Comptroller Thomas DiNapoli.