News and Information from Bond Buyer

Wayne County, Mich., got the green light to complete construction of a new downtown Detroit county jail, which will require $200 million of bond funding.

At the request of Jefferson County, Ala.’s bankruptcy attorneys, the 11th Circuit Court of Appeals set what appears to be a firm date to hear oral arguments on Dec. 16 in Atlanta.

An oversaturated casino market is making gambling a less appealing method to bring in revenues for state and local governments, a panel of state officials and policy analysts said here on Wednesday.

The Treasury Department sold $11 billion of inflation-indexed 9-year 8-month TIPs at a 0.369% high yield, an adjusted price of 98.390349, with a 1/8% coupon.

Top-shelf municipal bonds were mostly unchanged, according to traders, as the market seems to be settling down and a few larger deals trickled in.

New York Mayor Bill de Blasio signed legislation authorizing the creation of the Greater JFK Business Improvement District.

Mayor Bill de Blasio warned President-elect Donald Trump not to repeal the Dodd-Frank Act and promised to push back on other matters affecting New York.

Rhode Island’s retirement system joined an institutional investor group in a shareholder proposal demanding that Wells Fargo address its fake-accounts scandal, said Treasurer Seth Magaziner.

The Chicago City Council unanimously approved Mayor Rahm Emanuel’s $8.2 billion 2017 budget, which funds the hiring of hundreds of new police officers and taxes disposable bags to help close a spending gap.

The Treasury Department said it will auction $13 billion one-year 11-month 0.170% floating rate notes on Nov. 22.

The Treasury Department said it will auction $28 billion seven-year notes on Nov. 23.

The Treasury Department said Thursday it will auction $39 billion 90-day bills and $33 billion 181-day discount bills Monday.

The looming deadline of California's special legislative session on transportation funding could provide an opening for much-needed legislation before new lawmakers take their seats next legislative session, those closely watching the developments in Sacramento believe.

The Federal Open Market Committee appears on track for a December rate hike, Federal Reserve Board Chair Janet Yellen suggested on Thursday.

The city of Mobile, Ala., has agreed to pay an undisclosed sum of money to the Internal Revenue Service to maintain the tax-exempt standing of $63.4 million of general obligation refunding and improvement warrants it issued in 2006.

Municipal market participants are looking for more deals Thursday, but still aren't quite sure what negotiated sales will or won't be pricing.

Indicator Last Report Forecast Actual CPI Sept.: +0.3% Oct.: +0.3% Oct.: +0.4% CPI Core Sept.: +0.1% Oct.: +0.2% Oct.: +0.1% Initial Jobless Claims 11/5: 254,000 11/12: 259,000 11/12: 235,000 Continuing Claims 10/29: 2.043M 11/5: n/a 11/5: 1.977M Housing Starts Sept.: 1.054M Oct.: 1.151M Oct.: 1.323M Building Permits Sept.: 1.225M Oct.: 1.200M Oct.: 1.229M Philly Fed Manufacturing Oct.: 9.7 Nov.: 8.0 Nov.: 7.6

October housing starts skyrocketed 25.5%, the biggest increase since 1982, data reported by the Commerce Department Thursday morning showed.

The region's manufacturing sector expanded in November, although the general business conditions index declined to 7.6 from 12.8 in October, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Gradual increases in the fed funds rate remain appropriate as the neutral rate stays at a low level by historical standards, Federal Reserve Board Chair Janet Yellen testified Thursday.