News and Information from Bond Buyer

Texas factory activity, as measured by the production index, "activity increased for the sixth consecutive month in December," according to the monthly Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, released Tuesday.

Service sector activity "continued to be modest overall, except in the retail sub-sector where activity was strong," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "expanded in December," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, although the manufacturing index rose to 8 in December from 4 in November.

The consumer confidence index increased to 113.7 in December from a revised 109.4 last month, The Conference Board reported Tuesday.

The primary municipal market is up and running again after a long holiday weekend, however market participants will pretty much not have any new issuance to work with, as action in the primary won't get started up again until the New Year.

ILLINOIS

Tuesday, December 27 Issuer St Description Amount

Thursday, December 29 Issuer St Description Amount

Week Of January 3 Issuer St Description Amount

Day Indicator Last Report Forecast Tuesday Consumer Confidence Nov.: 107.1 Dec.: 108.5 Wednesday Pending Home Sales Oct.: +0.1% Nov.: +0.5% Thursday Initial Claims 12/17: 275,000 12/24: 265,000 Thursday Continuing Claims 12/10: 2.036M 12/17: 2.035M Friday Chicago PMI Nov.: 57.6 Dec.: 56.8

Dec. 27, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 1.02 1.94 2.61 3.36 AZ Arkansas Aa1/AA/NR 1 1.9 2.54 3.28 AR Colorado Aa1/AA/NR 1 1.93 2.6 3.35 CO Kansas Aa2/AA/NR 1 1.94 2.63 3.37 KS New Mexico Aa1/AA/NR 0.99 1.87 2.51 3.25 NM Oklahoma Aa2/AA+/AA+ 1.01 1.98 2.63 3.37 OK Texas Aaa/AAA/AAA 1.02 1.92 2.57 3.37 TX Utah Aaa/AAA/AAA 0.97 1.82 2.41 3.13 UT

12/26/2016 12/19/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 1 $75,735 1 $75,735 $0 Arkansas 0 0 0 0 0 Colorado 3 45,375 5 103,641 -58,266 Kansas 2 11,735 2 11,735 0 New Mexico 0 0 1 2,000 -2,000 Oklahoma 12 21,510 1 2,930 18,580 Texas 22 619,780 21 261,960 357,820 Utah 0 0 0 0 0

Dec. 26, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA-/AA- 1.17 2.37 3.07 3.81 Delaware Aaa/AAA/AAA 0.97 1.82 2.41 3.12 Maine Aa2/AA/AA 0.99 1.88 2.52 3.26 Maryland Aaa/AAA/AAA 0.97 1.84 2.45 3.13 Massachusetts Aa1/AA+/AA+ 1 1.93 2.57 3.31 New Hampshire Aa1/AA/AA+ 1.01 1.92 2.53 3.25 New Jersey A2/A/A 1.32 2.52 3.31 4.03 New York Aa1/AA+/AA+ 0.97 1.85 2.5 3.32 Pennsylvania Aa3/AA-/AA- 1.07 2.28 3.09 3.78 Rhode Island Aa2/AA/AA 1.02 2 2.72 3.47 Vermont Aaa/AA+/AAA 0.97 1.83 2.43 3.14 Dist. of Columbia Aa1/AA/AA 1 1.95 2.6 3.34 Puerto Rico Caa3/CC/CC 45.97 16.37 11.86 8.68

12/23/2016 12/16/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 0 $0 0 $0 $0 Delaware 1 39,940 1 39,940 0 Maine 1 98,135 0 0 98,135 Maryland 3 75,361 3 75,361 0 Massachusetts 0 0 2 188,490 -188,490 New Hampshire 0 0 0 0 0 New Jersey 2 18,760 2 25,120 -6,360 New York 3 1,059,385 8 1,460,775 -401,390 Pennsylvania 8 742,835 9 246,985 495,850 Rhode Island 1 40,000 1 40,000 0 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 1 750,000 1 750,000 0

Government

The board of the Puerto Rico Aqueduct and Sewer Authority fired the authority’s president Alberto Lázaro Castro on Friday.

The Puerto Rico Electric Power Authority won a legal case challenging its consensual debt restructuring agreement and said it will make its January bond payment.

Top-shelf municipal bonds finished slightly stronger in the last session before the holidays, as yields on some maturities were as many as two basis points lower, according to traders. With the holidays here, the market closed early at 2 pm on Friday and will not open again until Tuesday.

Latest estimates show declining ridership on Washington’s Metro won’t harm the $5.6 billion Purple Line P3 rail project.

A $159 million reconstruction of the Van Wyck Expressway in New York City designed to ease congestion between two major airports has been completed, New York Gov. Andrew Cuomo announced Thursday.