News and Information from Bond Buyer

The Chicago Transit Authority board signed off on a $1.3 billion contract for its rail that counts on a low-cost federal loan and approved the appointment of city debt manager Jeremy Fine as chief financial officer.

Top shelf municipal bonds finished steady on Wednesday, according to traders, as several big deals from Alaska, New Jersey, Texas and Ohio came to market. Meanwhile, a report that tracks requests by issuers for bond identifiers as an early indicator of new volume is suggesting a resurgence of municipal issuance in the next several weeks.

States have three years to expend $1.9 billion of unused congressional earmarks for transportation projects.

This is not a normal time in Atlantic City. In fact, our city is at a crossroads of historic proportions.

Local and state government leaders are tapping sales taxes for new revenue to help close budget gaps, pay for infrastructure, fund pension liabilities, and finance basics such as teachers’ raises.

The Securities and Exchange Commission on Wednesday charged California's largest agricultural water district and two officials with misleading investors about its financial condition when it issued $77 million of bonds in 2012.

Moody's Investors Service has released a scenario analysis of possible outcomes for Atlantic City, N.J., (Caa1 review for downgrade) as the New Jersey (A2 negative) legislature considers rescue legislation and greater influence in placing it on the path to fiscal recovery.

A Chinese-owned electric car manufacturer that won subsidies from Nevada has offered to put up a $75 million surety bond to guarantee bonds get paid if its proposed North Las Vegas factory does not get built.

The Treasury Department auctioned $20 billion of 9-year 11-month notes with a 1 5/8% coupon at a 1.895% high yield, a price of 97.567574.

Connecticut’s bond outlook was revised to negative from stable by Moody’s Investors Service, citing budget strains from weakening demographics.

Top shelf municipal bonds were steady to weaker at mid-session, according to traders, as several big deals from Alaska, New Jersey and Ohio issuers came to market.

Manhattan’s financial services industry will not lift New York State and New York City’s tax revenues because of a “lackluster” performance from Wall Street last year, according to Moody’s Investors Service.

Indicator Last Report Forecast Actual Wholesale Inventories Dec.: unch Jan.: -0.2% Jan.: +0.3% Wholesale Sales Dec.: -0.6% Jan.: -0.3% Jan.: -1.3%

Municipal bond traders are set to see more deals price in the primary on Wednesday after the biggest deal of the year to date came to market on Tuesday when California sold $2.9 billion of general obligation bonds.

A $1 trillion shortfall in public pension plans is rooted in poor governance, think tank Manhattan Institute for Policy Research reported.

Mar. 9, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.29 2.58 3.58 4.55 Indiana Aaa/AAA/AA+ 0.44 1.14 2.02 3.02 Iowa Aaa/AAA/AAA 0.44 1.13 2.02 3.02 Michigan Aa1/AA+/AA 0.47 1.16 2.13 3.15 Minnesota Aa1/AA+/AA+ 0.44 1.11 1.93 2.9 Missouri Aaa/AAA/AAA 0.44 1.07 1.91 2.91 Nebraska NR/AAA/NR 0.44 1.16 2.07 3.1 North Dakota Aa1/AA+/NR 0.47 1.21 2.1 3.1 Ohio Aa1/AA+/AA+ 0.46 1.17 2.1 3.11 South Dakota NR/AA+/AA+ 0.46 1.16 2.1 3.12 Wisconsin Aa2/AA/AA 0.45 1.16 2.07 3.05

3/8/2016 3/1/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 12 $139,945 9 $187,605 -$47,660 Indiana 7 216,380 5 205,335 11,045 Iowa 6 19,250 3 26,145 -6,895 Michigan 16 347,025 10 288,800 58,225 Minnesota 26 330,023 19 144,240 185,783 Missouri 6 137,835 2 106,095 31,740 Nebraska 0 0 0 0 0 North Dakota 3 8,530 1 1,170 7,360 Ohio 5 231,912 6 711,335 -479,423 South Dakota 0 0 0 0 0 Wisconsin 20 111,855 16 90,045 21,810

Wednesday, March 9 Issuer St Description Amount

Wednesday, March 9 Issuer St Description Amount

Week Of March 7 Issuer St Description Amount