News and Information from Bond Buyer

The Fed should reduce its balance sheet next year, Federal Reserve Bank of St. Louis President James Bullard said in an interview published Friday, and added that he now sees the need for one rate hike next year.

The grant from the Federal Transit Administration completes funding for $1 billion Texas rail line linking Dallas-Fort Worth International Airport with downtown stations.

Elected officials from New York called on the Federal Transit Administration to fund the $6 billion second phase of the Second Avenue subway.

Puerto Rico's employment continued contracting in November, with the household survey's total employment down 2.1% since July.

The Federal Reserve Bank of New York Nowcast GDP projection for the fourth quarter fell to 1.8%, while the first quarter of 2017 GDP prediction is 1.7% growth, the Fed said Friday.

Philadelphia's chief fiscal watchdog is pitching a proposal to union leaders aimed at trimming the city's massive pension shortfall.

New Jersey Gov. Chris Christie signed legislation requiring the Garden State to begin quarterly pension payments, in an effort to lift the underfunded system.

Risks to New York's budget could trigger outyear gaps exceeding $3 billion in fiscal 2018 through 2020, said city Comptroller Scott Stringer.

Top-shelf municipal bonds were unchanged at mid-session, traders said, ahead of an upcoming calendar of $481 million of new issues in the week before Christmas. Next Friday will see an abbreviated trading session ahead of the holiday.

Inflation is projected to rise 2.1% in the next 12 months, up from a 2.0% projection last month, the Federal Reserve Bank of Atlanta reported Friday.

Connecticut's pension commission OK'd a deal between Gov. Dannel Malloy and a bargaining coalition that lowered the state pension system's assumed rate of return from 8% to 6.9%.

Municipal bond traders will be eyeing yields on Friday, as they prepare for the upcoming abbreviated trading week.

The New York region's service sector activity "held steady," according to the Federal Reserve Bank of New York's December Business Leaders Survey, released Wednesday.

Monday, December 19 Issuer St Description Amount

Tuesday, December 20 Issuer St Description Amount

Week Of December 19 Issuer St Description Amount

Friday, December 16 Issuer St Description Amount

Dec. 16, 2016 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aa2/AA+/AA+ 1.07 2.09 2.73 3.57 California Aa3/AA-/AA- 0.94 1.86 2.54 3.39 Hawaii Aa1/AA+/AA 0.96 1.86 2.46 3.29 Idaho Aa1/AA+/AA+ 0.92 1.84 2.46 3.26 Montana Aa1/AA/AA+ 0.92 1.83 2.47 3.28 Nevada Aa2/AA/AA+ 0.97 1.92 2.56 3.37 Oregon Aa1/AA+/AA+ 0.97 1.81 2.38 3.19 Washington Aa1/AA+/AA+ 0.96 1.88 2.5 3.32 Wyoming NR/AAA/NR 0.92 1.8 2.38 3.17

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