News and Information from Bond Buyer

Congress is not likely to do much other than passing a continuing resolution to avoid a government shutdown before they recess later this week or next until after the elections in mid-November, according to municipal market participants.

Gov. Matt Bevin said an analysis will be performed of Kentucky’s underfunded pension plans, including a solvency and liquidity analysis, and a “critical review” of past revenue and expenditures.

Pawtucket, R.I., received a two-notch upgrade to A3 from Moody’s, which cited the 71,000-population city’s “improved and stabilized financial position.”

A city agency unanimously approved the New York Yankees’ stadium bond refunding of roughly $1 billion.

Top-quality municipal bonds were unchanged at mid-session, according to traders as more supply hit the screens, led by the Texas Water Development Board deal

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.180% high yield, a price of 99.986000.

A Bond Buyer slideshow pairs charts of key interest rate related metrics with comments from municipal analysts and strategists, as policy makers again meet to consider whether to lift the benchmark rate a second time eight years after the financial crisis.

Colorado's economy has shown the strongest improvement among states over the last year. The economies of Maryland, Wisconsin and Florida also continue to show strong improvement, while energy and commodity dependent states continue to show the weakest performance.

Municipal bond traders on Tuesday are set to see more supply hit the market, led by the Texas Water Development Board and Pennsylvania Turnpike Commission deals.

California public power credits should remain strong through a “radical transformation” of the state’s energy supply caused by legislative mandates to reduce greenhouse gas emissions, Fitch Ratings said Tuesday.

Indicator Last Report Forecast Actual Housing Starts July: 1.212M Aug.: 1.191M Aug.: 1.142M Building Permits July: 1.144M Aug.: 1.170M Aug.: 1.139M

The region's non-manufacturing sector "grew at a slightly slower pace" in September, as the general business conditions index declined to 23.7 from 24.8 in August, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

The Texas Water Development Board chairman Bech Bruun sits down with markets reporter Aaron Weitzman to discuss a gambit of topics, including droughts in Texas and how those disastrous times have turned into learning experiences. They also discuss the history of the TWDB and its various programs as well as what it's like not only being an issuer in today's low interest rate environment but also what it's like being an issuer from Texas.

Tuesday, September 20 Issuer St Description Amount

Tuesday, September 20 Issuer St Description Amount

Sep. 20, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 0.73 1.17 1.79 2.55 AZ Arkansas Aa1/AA/NR 0.69 1.09 1.66 2.4 AR Colorado Aa1/AA/NR 0.7 1.15 1.75 2.51 CO Kansas Aa2/AA/NR 0.7 1.14 1.75 2.49 KS New Mexico Aaa/AA+/NR 0.7 1.09 1.67 2.43 NM Oklahoma Aa2/AA+/AA+ 0.7 1.15 1.77 2.53 OK Texas Aaa/AAA/AAA 0.7 1.11 1.72 2.52 TX Utah Aaa/AAA/AAA 0.68 1.04 1.57 2.31 UT

Monday, September 26 Issuer St Description Amount

Week Of September 19 Issuer St Description Amount

9/19/2016 9/12/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 3 $34,295 3 $169,625 -$135,330 Arkansas 9 61,365 2 5,930 55,435 Colorado 4 57,190 6 186,985 -129,795 Kansas 12 257,005 15 121,105 135,900 New Mexico 4 190,815 6 80,180 110,635 Oklahoma 3 186,290 1 5,000 181,290 Texas 27 1,649,260 31 1,475,685 173,575 Utah 1 7,055 0 0 7,055

KANSAS