News and Information from Bond Buyer

Monday, July 11 Issuer St Description Amount

Jul. 11, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA+/AA+ 0.72 1.34 1.9 2.5 Delaware Aaa/AAA/AAA 0.52 0.85 1.3 1.94 Maine Aa2/AA/AA 0.54 0.93 1.43 2.06 Maryland Aaa/AAA/AAA 0.52 0.88 1.35 1.95 Massachusetts Aa1/AA+/AA+ 0.56 0.98 1.5 2.15 New Hampshire Aa1/AA/AA+ 0.54 0.9 1.35 2.04 New Jersey A2/A/A 0.87 1.64 2.16 2.72 New York Aa1/AA+/AA+ 0.52 0.86 1.37 2.1 Pennsylvania Aa3/AA+/AA+ 0.67 1.34 1.91 2.55 Rhode Island Aa2/AA/AA 0.57 1.05 1.63 2.3 Vermont Aaa/AA+/AAA 0.52 0.87 1.33 1.96 Dist. of Columbia Aa1/AA/AA 0.56 0.97 1.53 2.19 Puerto Rico Caa3/CC/CC 29.52 15.26 10.86 8.15

Week Of July 11 Issuer St Description Amount

Week Of July 11 Issuer St Description Amount

7/8/2016 7/1/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 2 59,055 2 $24,811 $34,244 Delaware 1 21,090 0 0 21,090 Maine 2 15,495 0 0 15,495 Maryland 0 0 0 0 0 Massachusetts 4 233,046 2 123,525 109,521 New Hampshire 0 0 0 0 0 New Jersey 10 199,576 5 59,363 140,213 New York 28 1,354,817 11 171,749 1,183,068 Pennsylvania 15 1,607,300 7 1,366,275 241,025 Rhode Island 0 0 0 0 0 Vermont 2 119,145 0 0 119,145 District of Columbia 0 0 0 0 0 Puerto Rico 1 750,000 1 750,000 0

CALIFORNIA

ALABAMA

Day Indicator Last Report Forecast Tuesday Wholesale Inventories April: +0.6% May: +0.2% Tuesday Wholesale Sales April: +1.0% May: +0.4% Wednesday Import Prices May: +1.4% June: +0.5% Wednesday Export Prices May: +1.1% June: +0.3% Wednesday Budget Statement May: -$52.5B June: +$19.0B Thursday Initial Jobless Claims 7/2: 254,000 7/9: 265,000 Thursday Continuing Claims 6/25: 2.124M 7/2: 2.120M Thursday PPI May: +0.4% June: +0.3% Thursday PPI Core May: +0.3% June: +0.1% Friday CPI May: +0.2% June: +0.3% Friday CPI Core May: +0.2% June: +0.2% Friday Empire State Manufacturing June: 6.0 July: 5.0 Friday Retail Sales May: +0.5% June: +0.1% Friday ex-Autos May: +0.4% June: +0.4% Friday Industrial Production May: -0.4% June: +0.2% Friday Capacity Utilization May: 74.9 June: 75.0 Friday Business Inventories April: +0.1% May: +0.2% Friday Michigan Sentiment June: 93.5 July: 93.5

Government

Munis closed the week out on a quiet note, finishing unchanged, according to traders, as market participants were eagerly anticipating a good dose of new supply, after having very little action this past week.

Consumer credit increased by $18.6 billion in May to $3.624 trillion, the Federal Reserve reported Friday.

A judge is expected to rule this month on Chicago's latest effort to quash a lawsuit filed by retired city employees who want to preserve their healthcare subsidies.

Kroll Bond Rating Agency said on Friday that it affirmed the Municipal Assurance Corp.’s insurance financial strength rating of AA-plus. MAC is a subsidiary of bond insurer Assured Guaranty Ltd.

Santa Clara County, Calif.’s $6.5 billion sales tax plan to fund road and rail projects has been put on November ballot.

Congressional action on transportation helped spur an upgrade for some outstanding Michigan Garvee bonds ahead of a $613 million refunding deal.

The Centers for Medicare and Medicaid Services (CMS) released a proposed rule that could help Puerto Rico retain many physicians who otherwise may have considered leaving the fiscally troubled island.

The House approved an appropriations bill that would reduce funds for the Internal Revenue Service, the Securities and Exchange Commission and the District of Columbia for fiscal 2017, which begins on Oct. 1.

Top-quality municipal bonds were weaker at mid-session, according to traders, ahead of next week's $8.7 billion of new supply.

The Town of Oyster Bay, N.Y. should fall under state oversight, says a state assemblyman who introduced legislation to do so.

Brexit, the United Kingdom’s referendum vote to leave the European Union, may complicate the fiscal strife facing many Northeast states by adding another variable to problems that were already present.