News and Information from Bond Buyer

A suburban Chicago school district that ran into financial trouble after mishandling bond proceeds faces a Securities and Exchange Commission inquiry.

The amount of aggregate tax-supported debt outstanding among states declined slightly in fiscal 2015, according to a report released this week by S&P Global Ratings.

Action was few and far between in the primary around midday on Wednesday, as traders and other market participants are waiting on the Federal Open Market Committee’s decision on monetary policy, which is expected to come at 2 pm.

Buena Vista, Va., was sued by bond insurer ACA Financial Guarantee Corp., which says the city breached its forbearance agreement and stopped making “moral obligation” payments on bonds issued to construct a golf course.

Senate Majority Leader Mitch McConnell, R-Ky., told reporters on Tuesday afternoon that the Senate will consider the House bill designed to help Puerto Rico before July 1.

The Government Finance Officers Association has issued an alert urging members to be ready for conversations with their counsel and quick turnarounds of settlements under the Securities and Exchange Commission's program to voluntarily self-report continuing disclosure violations.

Municipal market primary action slows a bit on Wednesday as traders go into "Fed Watch" mode as Federal Open Market Committee meets to decide on monetary policy.

Wednesday, June 15 Issuer St Description Amount

Wednesday, June 15 Issuer St Description Amount

Week Of June 13 Issuer St Description Amount

Week Of June 13 Issuer St Description Amount

Indicator Last Report Forecast Actual Import Prices April: +0.3% May: +0.7% May: +1.4% Export Prices April: +0.5% May: +0.3% May: +1.1% Retail Sales April: +1.3% May: +0.3% May: +0.5% ex-Autos April: +0.8% May: +0.4% May: +0.4% Business Inventories March: +0.4% April: +0.2% April: +0.1%

Jun. 15, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB+/BBB+ 1.43 2.65 3.26 3.92 Indiana Aaa/AAA/AA+ 0.58 1.06 1.63 2.34 Iowa Aaa/AAA/AAA 0.58 1.05 1.63 2.34 Michigan Aa1/AA+/AA 0.62 1.11 1.7 2.44 Minnesota Aa1/AA+/AA+ 0.59 1.02 1.55 2.23 Missouri Aaa/AAA/AAA 0.58 0.99 1.52 2.23 Nebraska NR/AAA/NR 0.58 1.08 1.68 2.42 North Dakota Aa1/AA+/NR 0.61 1.12 1.71 2.42 Ohio Aa1/AA+/AA+ 0.6 1.08 1.65 2.37 South Dakota NR/AA+/AA+ 0.6 1.08 1.71 2.44 Wisconsin Aa2/AA/AA 0.6 1.08 1.65 2.34

6/14/2016 6/7/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 5 $878,660 13 $589,485 $289,175 Indiana 10 107,705 9 315,150 -207,445 Iowa 4 6,280 6 66,215 -59,935 Michigan 18 479,925 29 470,115 9,810 Minnesota 39 316,400 44 330,683 -14,283 Missouri 2 17,050 4 28,120 -11,070 Nebraska 0 0 0 0 0 North Dakota 2 28,940 3 30,485 -1,545 Ohio 2 5,690 5 100,015 -94,325 South Dakota 0 0 1 15,455 -15,455 Wisconsin 41 222,925 31 375,985 -153,060

ALABAMA

ARKANSAS

The New York City Council approved the final $82.1 billion fiscal 2017 budget to which its leaders and Mayor Bill de Blasio had already agreed.

Government

The Metropolitan Pier & Exposition Authority of Illinois absorbed a downgrade from S&P Global Services, reflecting a recent state government downgrade.

Puerto Rico's Senate passed a bill to help the Puerto Rico Aqueduct and Sewer Authority sell bonds, following passage by the Puerto Rico House of Representatives.