News and Information from Bond Buyer

While Federal Reserve Bank of Kansas City President Esther George was the only voter to dissent at the latest Federal Open Market Committee meeting, minutes show she was not alone in wanting a rate hike.

The Municipal Securities Rulemaking Board plans to weigh complaints it recently received on a proposal for determining markups, as well as comments on close-out procedures for dealers, during its meeting next week.

Top shelf municipal bonds were unchanged at mid-session, traders said, as a new wave of issuance hit the market, led by issuers in California and New York.

The Federal Open Market Committee should be able to gradually raise the fed funds rate target this year, Federal Reserve Bank of Cleveland President and Chief Executive Officer Loretta J. Mester repeated Wednesday.

Federal Reserve Bank of Kansas City President Esther George said she would have preferred the Federal Open Market Committee make a “small move” to continue the gradual normalization of monetary policy at its last meeting, according to a published interview.

Federal Reserve Bank of San Francisco President John Williams said it would be more “constructive” to look at long-term monetary policy than at which meeting the Fed will next increase interest rates.

New Jersey's apparent willingness to let Atlantic City default may hurt the credit of other municipalities because it calls into question the state's future willingness to support distressed local governments, according to Moody's Investors Service.

Samson Capital Advisors and Wilkinson O’Grady Inc. will now officially operate under the name Fiera Capital Inc., as of April 4, and are the backbone of the Montreal-based money manager’s U.S. division.

The Maryland Board of Public Works on Wednesday approved a $5.6 billion, 36-year contract with a consortium of companies to design, build, operate and maintain a 16.2 mile light rail line that will link two counties in Maryland as well as connect to Amtrak, MARC and local bus services.

Labor market conditions “declined modestly, while momentum moderated,” as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) decreased to negative 0.02 in March from a revised positive 0.01 in February, first reported as negative 0.05, according to the Bank.

Illinois community colleges face downward rating pressure from delays in state aid payments and likely future state aid cuts.

This week we identify the best and worst performing states and highlight the recent spike in the SIFMA Municipal Swap Index.

The municipal bond market was set for a second wave of new issues to hit the screens on Wednesday.

Apr. 6, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.41 2.67 3.43 4.38 Indiana Aaa/AAA/AA+ 0.56 1.13 1.82 2.8 Iowa Aaa/AAA/AAA 0.56 1.12 1.82 2.8 Michigan Aa1/AA+/AA 0.6 1.2 1.93 2.93 Minnesota Aa1/AA+/AA+ 0.58 1.1 1.74 2.69 Missouri Aaa/AAA/AAA 0.56 1.06 1.71 2.69 Nebraska NR/AAA/NR 0.56 1.15 1.87 2.88 North Dakota Aa1/AA+/NR 0.59 1.19 1.9 2.88 Ohio Aa1/AA+/AA+ 0.58 1.15 1.88 2.88 South Dakota NR/AA+/AA+ 0.58 1.15 1.9 2.9 Wisconsin Aa2/AA/AA 0.59 1.14 1.83 2.8

4/5/2016 3/29/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 6 $54,845 4 $31,600 $23,245 Indiana 4 79,660 2 9,000 70,660 Iowa 12 137,980 12 126,060 11,920 Michigan 8 70,935 13 248,805 -177,870 Minnesota 34 390,265 28 496,645 -106,380 Missouri 9 374,110 2 51,200 322,910 Nebraska 1 40,000 0 0 40,000 North Dakota 2 6,470 2 6,470 0 Ohio 6 63,295 5 60,705 2,590 South Dakota 0 0 0 0 0 Wisconsin 27 202,350 22 102,515 99,835

Wednesday, April 6 Issuer St Description Amount

Wednesday, April 6 Issuer St Description Amount

Week Of April 4 Issuer St Description Amount

Week Of April 4 Issuer St Description Amount

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