News and Information from Bond Buyer

Michigan's budget director, John Roberts, is leaving in February to join Blue Cross Blue Shield of Michigan.

The Los Angeles Department of Power plans to price $500 million in power revenue bonds next month as the first installment in $4.5 billion in bond sales planned over a five-year period.

Members of Donald Trump's transition team have been reaching out to muni market participants as the President-elect plans an infrastructure task force.

The reconstruction of New York City's Times Square area has been finished just in time for New Year's Eve, Mayor Bill de Blasio announced on Wednesday.

A New York subway line delayed over 100 years is about to open "on time" when Second Ave. Subway service begins on New Year's Day.

The Treasury Department auctioned $34 billion of five-year notes, with a 2% coupon, a 2.057% high yield, a price of 99.730736.

The Puerto Rico Electric Power Authority announced that it had given the money for its January payment to its bond trustee.

Municipal bonds were steady to stronger at mid-session, according to traders, who were looking forward to closing out the week on a quiet note.

The Treasury Department Wednesday auctioned $13 billion of one-year, 10-month floating rate notes with a high discount margin of 0.169%, at a 0.170% spread, a price of 100.001782.

Securities and Exchange Commission enforcement officials are expected to focus on disclosure and pricing abuses as well as increase their oversight of municipal advisors during the coming year, according to regulators and market participants.

Disclosure, pricing actions expected along with uptick in MA focus

Volatility whipsawed the municipal bond market in 2016 as the election of Donald Trump was followed by a swift and severe sell-off in the fourth quarter.

Texas service sector activity "increased in December," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index grew to 20.6 from 13.7.

Alabama state lawmakers in 2017 will weigh competing major bond programs to fund transportation and prison construction, as well as two controversial gambling proposals.

Pending home sales decreased 2.5% to an index reading of 107.3 in November, after an unrevised 0.1% gain to 110.0 in October, according to a report released Wednesday by the National Association of Realtors.

Indicator Last Report Forecast Actual Pending Home Sales Oct.: +0.1% Nov.: +0.5% Nov.: -2.5%

Municipal bonds were steady in early activity on Wednesday as traders look forward to closing out the week on a rather quiet note as they expect prices to remain nearly unchanged and supply almost non-existent for the rest of the year.

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Tuesday, January 3 Issuer St Description Amount