News and Information from Bond Buyer

Two Republicans, Benton County Treasurer Duane Davidson and asset manager Michael Waite, are poised face off in November to become Washington state's next treasurer.

Butler Snow LLP has hired attorneys Steve Edds and Sue Hicks Fairbank to work in the firm’s public finance office in Richland, Mississippi.

Top quality municipal bonds were steady to weaker at mid-session, traders said, with yields on some maturities rising by as much as two basis points as more volume swept into the market.

With energy in the doldrums, Texas saw its sales tax revenue fall 1.5% in July compared to the same month last year, said state Comptroller Glenn Hegar.

New York City should budget even more conservatively to offset risks of up to $900 million in its four-year financial plan, said the New York State Financial Control Board

Jacksonville, Florida, is asking voters for a half-cent sales tax to help pay down nearly $3 billion in pension liabilities, but a recent lawsuit threatens to derail the referendum.

New Jersey lawmakers have called a hearing next week to grill the state’s student loan authority about its collection practices and lending terms.

Municipal bond traders will be getting some more supply come their way on Wednesday as the new issue pipeline keeps on churning out deals.

The high-yield sector probably is headed for a slowdown in the second half of the year, after outperforming for the first six months, municipal experts said.

Aug. 3, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB+/BBB+ 1.18 2.6 3.22 3.9 Indiana Aaa/AAA/AA+ 0.46 0.91 1.54 2.25 Iowa Aaa/AAA/AAA 0.46 0.9 1.54 2.25 Michigan Aa1/AA+/AA 0.5 0.97 1.62 2.35 Minnesota Aa1/AA+/AAA 0.47 0.87 1.47 2.14 Missouri Aaa/AAA/AAA 0.46 0.84 1.43 2.14 Nebraska NR/AAA/NR 0.46 0.93 1.59 2.33 North Dakota Aa1/AA+/NR 0.49 0.97 1.62 2.33 Ohio Aa1/AA+/AA+ 0.48 0.95 1.58 2.29 South Dakota NR/AA+/AAA 0.48 0.93 1.62 2.35 Wisconsin Aa2/AA/AA 0.49 0.95 1.57 2.27

8/2/2016 7/26/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 5 $69,300 6 $1,014,810 -$945,510 Indiana 8 145,165 10 575,320 -430,155 Iowa 2 74,420 1 6,700 67,720 Michigan 5 12,200 4 15,005 -2,805 Minnesota 28 965,260 18 188,225 777,035 Missouri 2 92,500 1 14,500 78,000 Nebraska 4 577,235 1 119,650 457,585 North Dakota 4 116,875 1 7,745 109,130 Ohio 11 485,045 9 328,165 156,880 South Dakota 0 0 0 0 0 Wisconsin 17 743,170 15 1,020,015 -276,845

Wednesday, August 3 Issuer St Description Amount

Wednesday, August 3 Issuer St Description Amount

Week Of August 1 Issuer St Description Amount

Week Of August 1 Issuer St Description Amount

GEORGIA

ARKANSAS

Government

Top-shelf municipal bonds finished considerably weaker on Tuesday, traders said, with yields on some maturities rising by as much as four basis points. In the primary, it was one of the busiest days that traders had seen in a while as new deals aplenty hit the screens.

Alabama Gov. Robert Bentley has called lawmakers back to Montgomery Aug. 15 to consider allowing voters to decide on implementing a state lottery to pay for essential government services.