News and Information from Bond Buyer

New York City will end fiscal 2016 with a $3.5 billion surplus, $151 million more than Mayor Bill de Blasio’s estimate, said the watchdog Independent Budget Office.

Minnesota Gov. Mark Dayton will propose a compromise transportation funding bill to resolve a legislative deadlock.

Washington State Treasurer and National Association of State Treasurers president Jim McIntire this week called on the federal government to play a more active role in securing infrastructure funding for local governments and called on lawmakers to protect the tax-exempt status of municipal bonds to fund such projects.

Columbia Capital Management LLC has added Courtney Shea to its ownership team.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.275% high rate, up from 0.220% the prior week, and the six-months incurred a 0.370% high rate, off from 0.395% the week before.

Top shelf municipal bonds were steady in late morning trade as New York City offered its general obligation bonds to retail investors and the big LaGuardia Airport deal was being pre-marketed to buyers.

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

Black Enterprise magazine has named Loop Capital Markets as its "Financial Services Company of the Year."

New Mexico is competitively selling $333 million of severance tax bonds after two downgrades attributed to declining oil and gas revenues.

The next president and new Congress have an opportunity to reverse the ongoing decline in the nation's aging infrastructure.

Our legislation would preserve money market funds as a source of liquidity and capital for public the infrastructure needs of our citizens.

Builders' confidence in the market for new single-family homes was unchanged as the National Association of Home Builders' housing market index remained at 58 in May.

Indicator Last Report Forecast Actual Empire State Manufacturing April: 9.56 May: 6.50 May: -9.02 NAHB Housing Index April: 58 May: 59 May: 58

Municipal bond traders are keeping one eye on this week's $11.3 billion new issue slate while keeping the other one on falling bond yields.

There is a "pretty strong" case for the Federal Open Market Committee to raise the fed funds rate target next month, Federal Reserve Bank of Richmond President Jeffrey Lacker said in an interview published Monday.

The Empire State Manufacturing Survey showed "business activity declined for New York manufacturers," the Federal Reserve Bank of New York reported Monday, as the general business conditions index plunged to negative 9.02 in May from positive 9.56 in April.

Week Of May 16 Issuer St Description Amount

Week Of May 16 Issuer St Description Amount

IOWA