News and Information from Bond Buyer

The Federal Reserve should wait to see more evidence of sustained inflation before raising rates Federal Reserve Board Governor Daniel Tarullo said Friday.

Municipal bond traders are finishing up their work for this holiday-shortened week, which saw some price volatility amid a modestly sized new issue calendar.

Despite low gross domestic product growth, and without offering a timetable, Federal Reserve Bank of Boston President & Chief Executive Officer Eric S. Rosengren Friday called for gradual interest rate hikes.

S&P Global Ratings said it lowered certain of its issue-level ratings on the Government Development Bank For Puerto Rico's (GDB) senior unsecured notes outstanding to D (default) from CC following confirmation of missed interest payments on debt service due Aug. 1 and Sept. 1, 2016.

Monday, September 12 Issuer St Description Amount

Monday, September 12 Issuer St Description Amount

Sep. 9, 2016 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aa2/AA+/AA+ 0.74 1.12 1.75 2.46 California Aa3/AA-/A+ 0.6 1.03 1.6 2.23 Hawaii Aa2/AA/AA 0.63 1.01 1.58 2.29 Idaho Aa1/AA+/AA+ 0.6 1.04 1.62 2.32 Montana Aa1/AA/AA+ 0.6 1.03 1.63 2.34 Nevada Aa2/AA/AA+ 0.64 1.06 1.62 2.35 Oregon Aa1/AA+/AA+ 0.62 0.98 1.49 2.18 Washington Aa1/AA+/AA+ 0.64 1.05 1.66 2.39 Wyoming NR/AAA/NR 0.6 1 1.54 2.23

Week Of September 12 Issuer St Description Amount

Friday, September 9 Issuer St Description Amount

9/8/2016 9/1/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 0 0 $0 $0 California 22 2222675 13 756,035 1,466,640 Hawaii 0 0 0 0 0 Idaho 1 10000 1 2,265 7,735 Montana 0 0 0 0 0 Nevada 0 0 0 0 0 Oregon 2 13885 0 0 13,885 Washington 2 157035 2 224,475 -67,440 Wyoming 2 79580 2 79,580 0

ARKANSAS

ALABAMA

Government

In the week ended Sept. 8, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose two basis points to 3.76% from 3.74% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

After four years of record spending, Florida’s economists believe the state budget is headed for structural imbalance due to tax cuts and rising program costs even though revenues are expected to continuing rising.

Top-rated municipal bonds finished weaker on Thursday, as the last of the week’s large muni deals came to market, led by competitive offerings from the Dormitory Authority of the State of New York.

The Government Finance Officers Association and the National Association of Bond Lawyers on Thursday each issued guidance to issuers and counsel on how to comply with tax-exempt bond rules after the issuance of tax-advantaged bonds.

Indicator Last Report Forecast Actual Initial Claims 8/27: 263,000 9/3: 265,000 9/3: 259,000 Continuing Claims 8/20: 2.151M 8/27: 2.160M 8/27: 2.144M Consumer Credit June: +$14.5B July: +$15.67B July: +$17.7B

The $7.65 billion Employees' Retirement System of Rhode Island achieved positive gains for a fifth straight month in July with a 2.47% return and $150 million fund balance growth, State Treasurer Seth Magaziner announced Thursday.

Consumer credit increased by $17.7 billion in July to $3.661 trillion, the Federal Reserve reported Thursday.