News and Information from Bond Buyer

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.175% high yield, a price of 99.986389.

Junk-rated Chicago Public Schools will offer a fiscal 2017 budget next month that relies on credit lines to help pay its bills, schools chief Forrest Claypool said.

Because long-term non-callable bonds are virtually non-existent, muni analysts no doubt spend sleepless nights trying to figure out what optionless rates would look like.

Municipal bond traders are set for some of the week’s biggest deals to come to market on Tuesday, led by issuers in the Golden and Lone Star states.

Indicator Last Report Forecast Actual Housing Starts Feb.: 1.194M March: 1.170M March: 1.089M Building Permits Feb: 1.177M March: 1.200M March: 1.086M

In the latest Bond Buyer Podcast, Assured Guaranty's president and CEO Dominic Frederico and senior managing director of public finance Bill Hogan join Bond Buyer markets reporter Aaron Weitzman for a wide-ranging conversation on the evolving landscape of bond insurance and challenges facing the industry today, including a lively, critical take on the handling of the Puerto Rican debt crisis and its potential implications for the municipal market (beginning at 11:30).

Apr. 19, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.61 1.12 1.83 2.78 Arkansas Aa1/AA/NR 0.57 1.04 1.7 2.63 Colorado Aa1/AA/NR 0.58 1.1 1.79 2.74 Kansas Aa2/AA/NR 0.58 1.09 1.79 2.72 New Mexico Aaa/AA+/NR 0.58 1.04 1.71 2.66 Oklahoma Aa2/AA+/AA+ 0.58 1.1 1.81 2.76 Texas Aaa/AAA/AAA 0.58 1.07 1.76 2.69 Utah Aaa/AAA/AAA 0.56 0.98 1.6 2.53

4/18/2016 4/11/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 4 $94,340 3 $109,745 -$15,405 Arkansas 4 10,280 2 3,155 7,125 Colorado 2 66,485 4 180,300 -113,815 Kansas 8 76,770 6 53,914 22,856 New Mexico 1 69,075 0 0 69,075 Oklahoma 30 60,175 13 115,600 -55,425 Texas 51 1,645,484 49 1,306,158 339,326 Utah 0 0 1 52,000 -52,000

Tuesday, April 19 Issuer St Description Amount

Tuesday, April 19 Issuer St Description Amount

Week Of April 18 Issuer St Description Amount

Week Of April 18 Issuer St Description Amount

ILLINOIS

ARIZONA

Market expectations of one 25 basis point increase in the fed funds rate target in each of the next three years does not reflect the fact the economy is “fundamentally sound” and is “inconsistent” with other projections, Federal Reserve Bank of Boston President and Chief Executive Officer Eric S. Rosengren said late Monday.

Illinois lawmakers resumed work with new proposals on redistricting and a tax hike on top earners, as well as news that their paychecks will be delayed.

Puerto Rico Gov. Alejandro García Padilla is pushing Puerto Rico legislators to let him retain the right to halt all debt payments starting July 1 as they consider legislation to amend the payment moratorium bill signed earlier this month.

Fitch released revised criteria about how it rates tax-supported state and local government credits.

Michigan’s State Housing Development Authority single family revenue bonds could get a credit boost from new federal funding, Moody’s Investors Service said in a commentary.

Top-rated municipal bonds finished steady to stronger on Monday, according to traders, as the market looked ahead to what should be an exciting week with about $7.2 billion of new supply set to be sold.