News and Information from Bond Buyer

A group of Democrats and Obama administration officials are urging the Republican-led Congress to include Flint aid in either the Water Resources Development Act of 2016 or the government spending measure that must be passed by the end of the week to avoid a government shutdown.

U.S. Department of Housing and Urban Development veteran Margaret Salazar will become the new director of Oregon Housing and Community Services Nov. 1.

Changes in assumed investment return rates at four of Illinois’ five state employee pension funds, as well as other revised assumptions in areas like life expectancy, are raising pressure on the state to tackle pension reforms.

The performance of New York City's five public pension plans was positive in the second quarter, the chief investment officer of the funds told trustees at Monday's common investment meeting held at the Dinkins Municipal Building in Manhattan.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 1/8% coupon, a 1.129% high yield, a price of 99.980607.

Top-rated municipal bonds were stronger at mid-session, traders said, as the first of the week's new issues started to come to market.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.160% high yield, a price of 99.987556.

Municipal experts say the fourth quarter municipals should continue to garner strong demand from investors in the last three months of 2016.

The PFM Group added Mary Francoeur, who has spent the last eight years at Assured Guaranty.

Some strategists say they will increase credit quality and shorten duration for overall risk protection, while others are identifying premium bonds, bonds with short calls, and those with average life structures to boost yield.

Indicator Last Report Forecast Actual Consumer Confidence Aug.: 101.8 Sept.: 99.0 Sept.: 104.1

New York MTA intends to market five subseries of floating rate securities totaling $242 million and also refund $500 million of transportation revenue bonds in October.

Texas service sector activity "increased in September," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index doubled to 13.0 from 6.5.

Service sector activity "improved in September," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "continued to soften in September, but somewhat less so than in August," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, although the manufacturing index narrowed to negative 8 in September from negative 11 in August.

The consumer confidence index increased to 104.1 in September from a revised 101.8 last month, The Conference Board reported Tuesday.

The municipal bond market is set to see the first of the week's new issues price on Tuesday, with a special emphasis on California issuers.

Republican presidential nominee Donald Trump used the first debate late Monday to attack the Federal Reserve Board, reiterating accusations that it has purposely kept interest rates low to help President Obama.

Rhode Island General Treasurer Seth Magaziner, in an in-depth chat with Bond Buyer northeast regional editor Paul Burton, explains how the state can rebound through infrastructure. He also talks about his push to require investment firms to reveal public pension fees, lessons learned from the 38 Studios debacle, and his teaching days in post-Katrina Louisiana early in his career.

Sep. 27, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 0.81 1.17 1.74 2.54 Arkansas Aa1/AA/NR 0.77 1.09 1.61 2.39 Colorado Aa1/AA/NR 0.78 1.15 1.7 2.5 Kansas Aa2/AA/NR 0.78 1.14 1.7 2.48 New Mexico Aaa/AA+/NR 0.78 1.09 1.62 2.42 Oklahoma Aa2/AA+/AA+ 0.78 1.15 1.72 2.52 Texas Aaa/AAA/AAA 0.79 1.14 1.69 2.51 Utah Aaa/AAA/AAA 0.76 1.04 1.52 2.3