News and Information from Bond Buyer

Hawaii signed a lease agreement with Kaiser Permanente in which the health system will take over three struggling Maui hospitals.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 3/8% coupon, a 1.410% high yield, a price of 99.831723.

Illinois-based MercyRockford Health System is bringing a $495 million deal to lay the groundwork for both a new hospital and new identity as Mercy Health Corp.

Top quality municipal bonds were weaker at mid-session, traders said, as the largest deal of the week came to market.

The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.605% high yield, a price of 99.332667.

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.190% high yield, a price of 99.985222.

Indicator Last Report Forecast Actual Durable Goods Feb.: -3.1% March: +1.8% March: +0.8% Durable Goods ex-Trans Feb.: -1.3% March: +0.5% March: -0.2% Consumer Confidence March: 96.1 April: 96.0 April: 94.2

Texas service sector activity “increased in April,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index grew to 10.6 from 6.4.

Service sector activity “activity expanded in April,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region “continued to expand in April,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, although the manufacturing index slipped to 14 in April from 22 in March.

The consumer confidence index decreased to 94.2 in April from a revised 96.1 last month, The Conference Board reported Tuesday.

Worst case, to-maturity debt service calculations that ignore the issuer's optional redemption feature lead to flatly wrong calculations for critical items like expected capital cost, refunding savings, and simple, basic principal and interest payments.

The municipal bond market will be awaiting the first part of the large Ascension Health Alliance offering, which is set to be priced on Tuesday.

The region's non-manufacturing sector slipped in April, as the general business conditions index declined to 13.5 from 13.9 in March, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Brian Fraser, co-chair of the litigation department at Richards Kibbe & Orbe LLP, examines the challenges of distinguishing a loan from a bond and a loan from a security, in a chat with Bond Buyer northeast regional editor Paul Burton.

Apr. 26, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.61 1.13 1.87 2.84 Arkansas Aa1/AA/NR 0.57 1.05 1.74 2.69 Colorado Aa1/AA/NR 0.58 1.11 1.83 2.8 Kansas Aa2/AA/NR 0.58 1.1 1.83 2.78 New Mexico Aaa/AA+/NR 0.58 1.05 1.75 2.72 Oklahoma Aa2/AA+/AA+ 0.58 1.11 1.85 2.82 Texas Aaa/AAA/AAA 0.57 1.08 1.79 2.7 Utah Aaa/AAA/AAA 0.56 0.99 1.64 2.59

4/25/2016 4/18/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 9 $276,590 4 $94,340 $182,250 Arkansas 1 2,580 4 10,280 -7,700 Colorado 4 336,675 2 66,485 270,190 Kansas 3 14,175 8 76,770 -62,595 New Mexico 1 69,075 1 69,075 0 Oklahoma 40 71,815 30 60,175 11,640 Texas 41 1,476,030 51 1,645,484 -169,454 Utah 3 98,385 0 0 98,385

Tuesday, April 26 Issuer St Description Amount

Tuesday, April 26 Issuer St Description Amount

Week Of April 25 Issuer St Description Amount