News and Information from Bond Buyer

The federal government ran a $106.5 billion surplus in April the Treasury Department reported Wednesday.

Gov. Earl Ray Tomblin has called West Virginia lawmakers back to Charleston on Monday to finish the fiscal 2017 budget, after failing to reach a consensus during the regular session.

Miami’s “dramatically improving and diverse economy” was a driving force that led Moody's Investors Service to upgrade the city’s general obligation bonds to Aa3 from A1, despite pending SEC and pension suits.

The Securities and Exchange Commission is charging a father, his son, and five of their associates with defrauding investors in Native American tribal bonds to pay for, among other things, their luxury expenses and legal costs associated with prior fraud charges.

The Treasury Department auctioned $23 billion of 10-year notes with a 1 5/8% coupon at a 1.710% high yield, a price of 99.221906.

Build America Mutual followed suit with the other two active municipal bond insurers, reporting both ups and downs in its first-quarter results.

The Securities and Exchange Commission is using Peter Cannava, a banker involved in an ill-fated private placement for a startup video game company, as a scapegoat and has no basis for charging him with defrauding investors, his lawyers claimed this week.

Top rated municipal bonds were stronger at mid-session, traders said, as more supply came to market led by issuers in Chicago, California and Oregon.

K-12 education could be the next victim of the political quagmire enveloping the Illinois budget.

Puerto Rico economists are concerned credit unions, which provide financial services to more than a third of the island's citizens, may prove vulnerable as the debt crisis ripples through the local economy.

Labor market conditions "was little changed in April, while momentum increased," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) increased to positive 0.05 in April from a revised positive 0.03 in March, first reported as negative 0.02, according to the Bank.

Ambac Assurance Corp. sued the Puerto Rico Highways and Transportation Authority to prevent what the insurer called improper siphoning of money.

New York City on Tuesday announced new selling groups for its general obligation bonds and securities issued by the Transitional Finance Authority and Municipal Water Finance Authority.

The municipal bond market is awaiting the biggest deal of the week and the most watched deal of the week on Wednesday as the Alameda Corridor Transportation and city of Chicago offerings are set for sale.

May. 11, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.41 2.54 3.32 4.19 Indiana Aaa/AAA/AA+ 0.56 1 1.69 2.61 Iowa Aaa/AAA/AAA 0.56 0.99 1.69 2.61 Michigan Aa1/AA+/AA 0.6 1.05 1.76 2.71 Minnesota Aa1/AA+/AA+ 0.57 0.96 1.6 2.5 Missouri Aaa/AAA/AAA 0.56 0.93 1.58 2.5 Nebraska NR/AAA/NR 0.56 1.02 1.74 2.69 North Dakota Aa1/AA+/NR 0.59 1.06 1.77 2.69 Ohio Aa1/AA+/AA+ 0.58 1.01 1.69 2.64 South Dakota NR/AA+/AA+ 0.58 1.02 1.77 2.71 Wisconsin Aa2/AA/AA 0.58 1.02 1.71 2.61

5/10/2016 5/3/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 9 $124,364 6 $515,180 -$390,816 Indiana 9 292,995 7 138,960 154,035 Iowa 13 97,790 8 85,740 12,050 Michigan 13 149,145 14 231,175 -82,030 Minnesota 34 290,210 40 320,015 -29,805 Missouri 2 64,800 2 351,820 -287,020 Nebraska 0 0 0 0 0 North Dakota 4 56,695 2 53,305 3,390 Ohio 5 104,715 13 405,390 -300,675 South Dakota 2 99,680 0 0 99,680 Wisconsin 40 245,290 37 491,600 -246,310

Wednesday, May 11 Issuer St Description Amount

Wednesday, May 11 Issuer St Description Amount

Week Of May 9 Issuer St Description Amount

Week Of May 9 Issuer St Description Amount