News and Information from Bond Buyer

Jun. 28, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.58 0.99 1.58 2.32 Arkansas Aa1/AA/NR 0.54 0.91 1.45 2.17 Colorado Aa1/AA/NR 0.55 0.97 1.54 2.28 Kansas Aa2/AA/NR 0.55 0.96 1.54 2.26 New Mexico Aaa/AA+/NR 0.55 0.91 1.46 2.2 Oklahoma Aa2/AA+/AA+ 0.55 0.97 1.56 2.3 Texas Aaa/AAA/AAA 0.56 0.94 1.49 2.19 Utah Aaa/AAA/AAA 0.53 0.85 1.35 2.07

6/27/2016 6/20/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 2 $55,590 5 $141,800 -$86,210 Arkansas 6 101,275 0 0 101,275 Colorado 3 23,160 5 410,025 -386,865 Kansas 4 13,740 11 89,685 -75,945 New Mexico 1 6,925 2 122,305 -115,380 Oklahoma 1 34,770 1 34,810 -40 Texas 41 1,877,362 48 1,609,866 267,496 Utah 2 218,000 5 118,960 99,040

Government

The Puerto Rico Energy Commission approved a provisional 1.3 cents per kilowatt-hour increase in Puerto Rico Electric Power Authority rates.

The Municipal Securities Rulemaking Board announced on Monday that its EMMA system now includes an economic calendar that gives visitors free access to dates and descriptions of upcoming macroeconomic developments that could impact the municipal market.

Picking up right where they left off on Friday, municipal bonds continued the rally with Treasuries on Monday as equities fell in a further fallout in the wake of the British vote to leave the European Union.

Treasury Secretary Jack Lew added to the pressure for quick passage of a Puerto Rico rescue bill in a letter to the Senate leadership on Monday, even as some public finance professionals maintain the bill is unnecessary and could be harmful for the commonwealth.

Chicago Mayor Rahm Emanuel is requesting authority from the city council to buy, among other things, junk rated Chicago Public Schools debt.

The House GOP blueprint for tax reform released Friday sparked mixed reactions in Congress, with leading Democrats criticizing its lack of detail and Republicans lauding its proposed pro-growth efforts through limits on deductions, exclusions and credits in the current tax code.

New York City broke ground Friday on a $67 million reconstruction project at the Ocean Bay-Oceanside development in the Rockaways. The New York City Housing Authority development, which is home to more than 400 families, was hard hit by Hurricane Sandy.

Philadelphia's new tax on sugar-sweetened beverages is a credit positive for Pennsylvania's largest city and is expected to improve its financial position, according to Moody's Investors Service.

A transfer from Connecticut's rainy-day fund to cover a projected $316 million fiscal 2016 budget gap would be a credit negative, Moody's said.

Picking up where they left off on Friday, municipal bonds continued to rally on Monday with Treasuries in the wake of the British vote to leave the European Union.

San Antonio plans to offer the market $564 million of revenue refunding bonds for CPS Energy as the city copes with rapid growth.

California Treasurer John Chiang reassured Californians that he is monitoring the impact of Brexit on state finances.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.260% high rate, down from 0.270% the prior week, and the six-months incurred a 0.340% high rate, down from 0.400% the week before.

Puerto Rico said it would not be paying bond anticipation notes from the Puerto Rico Infrastructure Finance Authority.

The Treasury Department said Monday it will sell $50 billion of four-week discount bills Tuesday.

Texas factory activity, as measured by the production index, "declined again in June," according to the monthly Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, released Monday.