News and Information from Bond Buyer

Indicator Last Report Forecast Actual Consumer Confidence June: 97.4 July: 95.8 July: 97.3 New Home Sales May: 572,000 June: 560,000 June: 592,000

Texas service sector activity "continued to reflect expansion in July," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index fell to 10.3 from 15.6.

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

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

The consumer confidence index decreased to 97.3 in July from a revised 97.4 last month, The Conference Board reported Tuesday.

Municipal bond traders are set to see some of the biggest deals of the week come to market on Tuesday ahead of the two-day monetary policy meeting of the Federal Open Market Committee.

The region's non-manufacturing sector surged in July, as the general business conditions index gained to 28.8 from 10.8 in June, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

Moody's Investors Service said it has downgraded the state of Alaska's general obligation rating to Aa2 from Aa1.

Maria Doulis of the watchdog Citizens Budget Commission and Howard Cure of Evercore Wealth Management dissect New York City’s $82 billion budget with Bond Buyer Northeast regional editor Paul Burton. They explore efficiencies, debt management, reserves, the economy, the capital budget and Mayor Bill de Blasio’s plan to overhaul Health + Hospitals.

Tuesday, July 26 Issuer St Description Amount

Tuesday, July 26 Issuer St Description Amount

Week Of July 25 Issuer St Description Amount

MASSACHUSETTS

MISSOURI

Jul. 26, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.57 1.01 1.67 2.39 Arkansas Aa1/AA/NR 0.53 0.93 1.54 2.24 Colorado Aa1/AA/NR 0.54 0.99 1.63 2.35 Kansas Aa2/AA/NR 0.54 0.98 1.63 2.33 New Mexico Aaa/AA+/NR 0.54 0.93 1.55 2.27 Oklahoma Aa2/AA+/AA+ 0.54 0.99 1.65 2.37 Texas Aaa/AAA/AAA 0.56 0.99 1.61 2.36 Utah Aaa/AAA/AAA 0.52 0.88 1.45 2.15

7/25/2016 7/18/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 3 $226,710 3 $41,400 $185,310 Arkansas 4 22,370 3 104,735 -82,365 Colorado 1 3,900 3 440,305 -436,405 Kansas 4 26,875 3 19,360 7,515 New Mexico 4 19,075 3 14,320 4,755 Oklahoma 1 128,700 0 0 128,700 Texas 22 324,455 49 1,211,935 -887,480 Utah 0 0 2 40,640 -40,640

*Update: Moody's downgrades Alaska to Aa2 (July 25)

Chicago isn’t on the “brink” of a financial collapse that could drive a default or bankruptcy but its pension fixes to date fall far short of stabilizing the city’s fiscal foundation, an analyst said.

Government

Lance Badorf has joined HJ Sims as Vice President of Fixed Income Trading, the company announced on Monday. He is a 15 year industry veteran who specializes in trading taxable and bank qualified municipal bonds.