News and Information from Bond Buyer

S&P Global Ratings said it has placed its AA-minus general obligation (GO) rating, A-plus appropriation rating, A departmental appropriation rating, and A-minus moral obligation on the commonwealth of Pennsylvania on CreditWatch with negative implications.

Thousands of California motorists are participating in nine-month VMT pilot program to test a replacement for the state's gasoline tax revenues.

Cincinnati, Ohio-based Dinsmore & Shohl LLP has hired Michael Jackson to expand its public finance practice in Philadelphia, Pennsylvania.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 3/4% coupon at a 0.765% yield, a price of 99.955596.

Moody's Investors Service said it has assigned an initial Aaa issuer rating to the state of South Dakota.

Oklahoma entered a recession more than a year ago and may still be in one as oil and gas futures trade at less than half of their 2014 peak prices, according to recent economic data.

A proposal to place Oyster Bay, N.Y. under state oversight is “premature” according to Town Supervisor John Venditto, who said he has a plan to steer the junk-rated municipality on the right course.

Top-quality municipal bonds were weaker at mid-session, according to traders, with yields on some maturities rising by as much as one basis point.

The fed funds rate target is too low because the U.S. economy has progressed, according to Federal Reserve Bank of Kansas City President Esther George.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.310% high rate, up from 0.270% the prior week, and the six-months incurred a 0.390% high rate, up from 0.340% the week before.

The Treasury Department said Monday it will sell $45 billion of four-week discount bills Tuesday.

Consumers decreased their expectations for one-year inflation but lifted their projections for three years out, according to the June Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.

Demand for municipal bonds is forecast to be just as robust, if not stronger, in the third quarter.

The Federal Reserve's Labor Market Conditions Index, a compilation of 19 labor market measures, rose to negative 1.9 in June from a revised negative 3.6 in May, first reported as negative 4.8.

The Conference Board's Employment Trends Index (ETI) gained to 128.13 in June from a downwardly revised 126.42 in May, and is up 1.8% from a year ago, the group announced Monday.

The municipal bond market is preparing to see a hefty slate of new issues come its way this week, with about $8.7 billion of new deals set for sale.

Gov. Tom Wolf said he would let Pennsylvania's $31.5 billion budget become law without his signature if lawmakers cannot agree on how to plug a $1.3 billion hole.

U.S. Virgin Islands officials said they plan to sell a $1 billion bond, even as analysts raised concern that its debt could be subject to restructuring under the new federal law set up for Puerto Rico.

Monday, July 11 Issuer St Description Amount