News and Information from Bond Buyer

The Securities and Exchange Commission’s Division of Investment Management has issued a guidance document urging funds with exposure to Puerto Rico debt to continually update their disclosures based on the risks associated with their investments.

Democratic presidential candidates favor more infrastructure spending while three of four Republican contenders want to curtail federal funding.

California priced an additional $500 million in refunding bonds during this week’s GO bond sale at yields that resulted in $294 million in net present value savings.

The Treasury Department and Internal Revenue Service could issue final arbitrage rules, guidance on management contracts, and final issue price rules before the November elections, John Cross, Treasury’s associate tax legislative counsel told bond lawyers meeting here.

The Puerto Rico House of Representatives passed a bill to help the Puerto Rico Aqueduct and Sewer Authority Thursday.

The U.S. Supreme Court’s Feb. 29 decision to not hear an appeal by New Jersey labor groups challenging Gov. Chris Christie’s authority to cut pension payments is a credit positive for the Garden State since it retains an ability to annually determine contribution levels, according to Moody’s Investors Service.

A bill to give New Jersey increased power over Atlantic City finances advanced in the State Senate.

Top-rated municipal bonds were steady to weaker at midday, traders were saying as they took a quick respite from this week’s onslaught of new issuance to get their records in order before next week’s $7.27 billion of new supply hits the screens.

Criticizing lawmakers for taking a piecemeal approach to capital projects, New Mexico Gov. Susana Martinez used her line-item veto to reduce a severance-tax bond package.

The savings are that New York City Mayor Bill de Blasio trumpets from significant changes to the city’s employee health plans are a matter of debate.

After dipping in January, California state government’s revenues returned in February to a pattern of beating budget projections.

With performance thriving and volatility trending lower, investors have pumped cash into high-yield municipal bond funds for the past 22 weeks to extend the sector’s more than two-year recovery.

Municipal bond traders on Friday were taking a quick respite from the onslaught of new issuance this week and getting their records in orders before looking ahead to the next week’s primary slate.

Mar. 11, 2016 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aa1/AA+/AAA 0.61 1.3 2.18 3.15 California Aa3/AA+/A+ 0.5 1.23 2.13 3.07 Hawaii Aa2/AA/AA 0.5 1.21 2.07 3.08 Idaho Aa1/AA+/AA+ 0.47 1.17 2.06 3.05 Montana Aa1/AA/AA+ 0.47 1.18 2.07 3.07 Nevada Aa2/AA/AA+ 0.51 1.21 2.11 3.11 Oregon Aa1/AA+/AA+ 0.47 1.15 1.95 2.95 Washington Aa1/AA+/AA+ 0.49 1.21 2.13 3.13 Wyoming NR/AAA/NR 0.47 1.15 1.98 2.96

3/10/2016 3/3/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 $0 1 $134,790 -$134,790 California 11 376,440 10 852,150 -475,710 Hawaii 2 525,000 2 525,000 0 Idaho 0 0 0 0 0 Montana 0 0 0 0 0 Nevada 3 776,015 2 22,805 753,210 Oregon 1 30,000 1 63,680 -33,680 Washington 0 0 2 101,590 -101,590 Wyoming 0 0 0 0 0

Friday, March 11 Issuer St Description Amount

Friday, March 11 Issuer St Description Amount

Week Of March 14 Issuer St Description Amount

Friday, March 11 Issuer St Description Amount

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