News and Information from Bond Buyer

As the presidential campaigns have become increasingly focused on personality and name calling, municipal finance pros are begging for more defined infrastructure spending plans and clarity on how the muni tax exemption will fare in the event of tax reform.

Municipal bonds closed steady to weaker on Monday, with yields on some maturities as much as two basis points higher, according to traders, as they braced for $15.4 billion of issuance this week.

R. Seelaus & Co., Carty & Co., and Emmet & Co. have agreed to pay a total of $83,000 to settle separate charges by the Financial Industry Regulatory Authority related to unfair markups, trading below the minimum denomination, and trade reporting failures involving municipal securities.

Vanderbilt University received an upgrade to triple-A ahead of its first foray into the bond market since separating financially from its medical center.

Manufacturers group wants new president to go bold with $1 trillion infrastructure plan.

The New Jersey Transit’s fiscal management and safety infrastructure will be scrutinized at New Jersey Senate hearings in the wake of a Sept. 29 Hoboken, N.J. train crash that killed one woman.

Oaklawn Hospital in Calhoun County, Michigan plans to convert its variable rate paper to fixed-rate debt in an upcoming $74 million hospital revenue bond refunding.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.340% high rate, down from 0.360% the prior week, and the six-months incurred a 0.470% high rate, down from 0.495% the week before.

Dallas’ growing pension problems brought two recent downgrades amid a wave of lump-sum withdrawals from the Dallas Police & Fire Pension System by retired officers and firefighters.

Munis were weaker around midday on Monday, according to traders as yields on some maturities were up by as many as two basis points. One noteworthy deal hit screens for institutions, while two other larger deals priced for retail investors.

The Treasury Department said Monday it will sell $40 billion of four-week discount bills Tuesday.

With voters from nine more states considering marijuana legalization in next month’s election, here’s a state-by-state chart of the revenue implications.

Municipal bond traders are getting ready for another week of hefty new issuance, with over $15 billion of supply slated to hit the screens. Ipreo estimates muni volume at $15.39 billion, consisting of $10.92 billion of negotiated deals and $4.47 billion of competitive sales.

Monday, October 17 Issuer St Description Amount

Monday, October 17 Issuer St Description Amount

Oct. 17, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA-/AA- 0.93 1.52 2.22 3.07 Delaware Aaa/AAA/AAA 0.78 1.11 1.69 2.52 Maine Aa2/AA/AA 0.8 1.19 1.82 2.64 Maryland Aaa/AAA/AAA 0.78 1.13 1.73 2.53 Massachusetts Aa1/AA+/AA+ 0.81 1.23 1.87 2.73 New Hampshire Aa1/AA/AA+ 0.8 1.16 1.74 2.62 New Jersey A2/A/A 1.13 1.75 2.4 3.21 New York Aa1/AA+/AA+ 0.78 1.12 1.76 2.68 Pennsylvania Aa3/AA-/AA- 0.98 1.57 2.24 3.1 Rhode Island Aa2/AA/AA 0.83 1.31 2.02 2.88 Vermont Aaa/AA+/AAA 0.78 1.13 1.72 2.54 Dist. of Columbia Aa1/AA/AA 0.81 1.23 1.9 2.75 Puerto Rico Caa3/CC/CC 45.78 16.92 11.85 8.78

Week Of October 17 Issuer St Description Amount

Week Of October 17 Issuer St Description Amount

10/14/2016 10/7/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 6 $748,465 4 $30,180 $718,285 Delaware 1 21,000 0 0 21,000 Maine 0 0 1 3,800 -3,800 Maryland 5 843,165 5 770,030 73,135 Massachusetts 4 33,620 3 40,492 -6,872 New Hampshire 0 0 0 0 0 New Jersey 4 665,535 7 98,282 567,253 New York 25 1,480,828 16 1,414,158 66,670 Pennsylvania 13 2,529,930 12 290,840 2,239,090 Rhode Island 2 43,050 0 0 43,050 Vermont 0 0 2 20,000 -20,000 District of Columbia 0 0 0 0 0 Puerto Rico 1 750,000 1 750,000 0