News and Information from Bond Buyer

The Treasury Department Tuesday auctioned $55 billion of four-week bills at a 0.270% high yield, a price of 99.979000.

Fitch Ratings says that California school general obligation bonds meet its “high bar” to determine if the revenue backing bonds would be considered special revenues in a bankruptcy, and therefore more secure.

After being one of the best performing asset classes last year, municipals have underperformed taxable markets this year.

The risky underpinnings of Chicago’s efforts to solve its $20 billion pension mess are taking center stage this week.

Service sector activity “improved in March following February's weakness,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region “expanded in March,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index soared to positive 22 in March from negative 4 in February.

Municipal bond traders were gearing up to take on more supply Tuesday as the biggest deal of the week is set to hit the market.

The region's non-manufacturing sector surged in March, as the general business conditions index grew to 13.9 from 3.6 in February, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Ronnie Lowenstein, director of the watchdog Independent Budget Office, and Bond Buyer Northeast regional editor Paul Burton take a good, hard look at New York City’s economy and variables that could affect municipal budgets.

Mar. 22, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.58 1.25 2.05 3.03 Arkansas Aa1/AA/NR 0.54 1.17 1.92 2.88 Colorado Aa1/AA/NR 0.55 1.23 2.01 3.01 Kansas Aa2/AA/NR 0.55 1.22 2.01 2.97 New Mexico Aaa/AA+/NR 0.55 1.17 1.93 2.91 Oklahoma Aa2/AA+/AA+ 0.55 1.23 2.03 3.01 Texas Aaa/AAA/AAA 0.55 1.22 1.98 2.96 Utah Aaa/AAA/AAA 0.53 1.12 1.83 2.79

3/21/2016 3/14/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 5 $255,765 2 $90,655 $165,110 Arkansas 6 34,455 1 15,870 18,585 Colorado 3 396,090 1 25,000 371,090 Kansas 4 96,780 3 88,475 8,305 New Mexico 1 12,500 2 62,790 -50,290 Oklahoma 17 138,450 2 7,885 130,565 Texas 45 1,894,800 41 1,365,880 528,920 Utah 1 87,225 1 87,225 0

Tuesday, March 22 Issuer St Description Amount

Tuesday, March 22 Issuer St Description Amount

Week Of March 21 Issuer St Description Amount

Week Of March 21 Issuer St Description Amount

ARIZONA

FLORIDA

Gov. Rick Scott signed the $82.3 billion budget for 2017 law late Thursday night, vetoing $256 million in line-item expenses sought by the Legislature.

Government

A higher-than-expected 2015 operating loss at Illinois-based Presence Health is expected to trigger a technical default that would allow bondholders and banks to accelerate some debt repayments.