News and Information from Bond Buyer

A criminal case alleging two Ramapo, N.Y. officials misled investors and credit rating agencies in connection with municipal bonds would go to trial on Jan. 9 under the timeline the federal judge has put forth for the proceedings.

Atlantic City’s remaining casinos saw a 21% jump in operating profits for the first half of 2016, according to new state data.

More infrastructure spending at all levels of government would be best fix for California's congested, deficient roads, TRIP says.

Twice as many Federal Reserve Banks wanted to raise the discount and advance rate under the primary credit program as wanted to keep the rate at 1%, according to minutes of the Federal Reserve Board's discount rate meeting, released Tuesday.

The issuers of the Midwest sold $41 billion of municipal bonds in the first half of 2016, spurred by increased new money issuance, according to Thomson Reuters data.

Reliability of the term spread as a predictor of recession probabilities may be affected by zero short-term interest rates, according to a Federal Reserve Bank of Cleveland advisor.

The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 3/4% coupon at a 0.760% yield, a price of 99.980189.

Connecticut's two largest pension funds exceeded benchmarks but only returned 0.26% and 0.25%, state Treasurer Denise Nappier announced.

Top-rated municipal bonds were unchanged at mid-session, traders said, as the first of the week's $8.84 billion of bond supply started to hit the market on Tuesday.

Kentucky received an abundance of local proposals for its $100 million bond-financed work-training initiative.

The Treasury Department Tuesday auctioned $55 billion of four-week bills at a 0.275% high yield, a price of 99.978611.

The Long Island Power Authority’s financial stability is expected to “gradually improve” in the years ahead, according to Janney Capital Markets.

Indicator Last Report Forecast Actual New Home Sales June: 582,000 July: 585,000 July: 654,000

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

Manufacturing activity in the central Atlantic region "declined in August," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, although the manufacturing index reversed to negative 10 in August from positive 10 in July.

The municipal bond market will see the first of the week's $8.84 billion of bond supply price on Tuesday, led by a Golden State issuer.

The region's non-manufacturing sector "continued to expand at a steady pace" in August, although the general business conditions index declined to 24.8 from 28.8 in July, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

Dean Fuleihan, New York City’s Director of Management and Budget, sits down with The Bond Buyer’s Senior Marker Reporter Chip Barnett to talk about the city’s fiscal 2017 budget. Fuleihan also discusses the city’s aging infrastructure and what it takes to get the right balance between maintaining the old and building the new.

Aug. 23, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 0.51 0.97 1.62 2.36 Arkansas Aa1/AA/NR 0.47 0.89 1.49 2.21 Colorado Aa1/AA/NR 0.48 0.95 1.58 2.32 Kansas Aa2/AA/NR 0.48 0.94 1.58 2.3 New Mexico Aaa/AA+/NR 0.48 0.89 1.5 2.24 Oklahoma Aa2/AA+/AA+ 0.48 0.95 1.6 2.34 Texas Aaa/AAA/AAA 0.49 0.95 1.56 2.33 Utah Aaa/AAA/AAA 0.46 0.84 1.4 2.12

8/22/2016 8/15/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 6 $530,145 4 $57,135 $473,010 Arkansas 2 1,790 4 48,490 -46,700 Colorado 4 124,750 4 72,710 52,040 Kansas 3 63,125 11 103,525 -40,400 New Mexico 2 8,450 1 18,040 -9,590 Oklahoma 3 12,075 0 0 12,075 Texas 70 1,671,470 46 929,930 741,540 Utah 1 5,970 2 19,095 -13,125