News and Information from Bond Buyer

The city of Wayne, Mich. was dropped lower into junk territory by Moody's Investors Service as it remains on the brink of running out of money with no solution in hand to relieve its fiscal stress after the state declined to intervene.

Top quality municipal bonds ended weaker on Wednesday, traders said, while the first of the week's new issue deals hit the market.

Two voter opinion polls differ on the likely outcome of Austin's $720 million mobility bond referendum.

A proposed $3 billion budget for New York's Nassau County contains nearly $115 million in risky revenue assumptions that could create a "sizable" deficit, according to county comptroller George Maragos.

The Municipal Securities Rulemaking Board announced on Wednesday that it is seeking input from market participants on where to focus its long-term strategic plan and specifically how it can improve its EMMA system.

The Treasury Department auctioned $20 billion of 9-year 10-month notes with a 1 1/2% coupon at a 1.793% high yield, a price of 97.368781.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1% coupon at a 1.045% high yield, a price of 99.867644.

Puerto Rico bondholders have reason to be optimistic about overturning the island's debt payment moratorium in court, based on rulings by the judge handling most of the litigation.

The Kentucky Court of Appeals ruled that the city of Fort Wright can proceed with its lawsuit alleging that the Kentucky Retirement Systems made millions in improper investments in alternative asset classes.

Top quality municipal bonds were weaker at mid-session, traders said, continuing a recent trend as the first of the week’s new issue deals started to hit the market.

Illinois will remarket floating-rate paper in a direct placement set for Nov. 7, resolving a potential strain that expiring letters of credit posed for its already stressed balance sheet.

The SEC's MCDC initiative is causing many municipal issuers and underwriters to change the way they do things.

The first of the week’s new issue deals are slated to hit the market on Wednesday, ahead of the bulk of the municipal bond supply destined for sale on Thursday.

Wednesday, October 12 Issuer St Description Amount

Wednesday, October 12 Issuer St Description Amount

Oct. 12, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB/BBB+ 1.38 2.62 3.26 4.13 Indiana Aaa/AAA/AA+ 0.78 1.16 1.76 2.57 Iowa Aaa/AAA/AAA 0.78 1.15 1.76 2.57 Michigan Aa1/AA-/AA 0.82 1.22 1.84 2.67 Minnesota Aa1/AA+/AAA 0.79 1.14 1.69 2.45 Missouri Aaa/AAA/AAA 0.78 1.1 1.65 2.46 Nebraska NR/AAA/NR 0.78 1.18 1.81 2.65 North Dakota Aa1/AA+/NR 0.82 1.22 1.84 2.65 Ohio Aa1/AA+/AA+ 0.8 1.18 1.79 2.61 South Dakota NR/AA+/AAA 0.8 1.18 1.84 2.67 Wisconsin Aa2/AA/AA 0.82 1.2 1.83 2.62

Week Of October 11 Issuer St Description Amount

Week Of October 11 Issuer St Description Amount