News and Information from Bond Buyer

Top-quality municipal bonds ended weaker on Friday, traders said, ahead of an upcoming $8.6 billion new issue calendar, which is headlined by large deals from California, New York and Nevada issuers. The upcoming week’s slate will be driven by two sales from issuers in California and New York, which are greater than $1 billion, with one of the sales exceeding $2 billion.

The trustee for Port St. Lucie, Fla.’s $64 million of bonds to finance the defunct Vaccine & Gene Therapy Institute questioned whether the city will honor its guarantee to pay debt service, although the city attorney said it will make good on the promise.

Under the $6.2 billion budget signed by New Mexico Gov. Susana Martinez, spending is reduced for the first time in five years due to persistently low oil and gas prices.

Maine corrections officials are looking at new borrowing for the nearly $150 million renovation and expansion of an aging prison, but don’t want to ask voters for the authority.

Moody's Investors Service said it has upgraded the village of Romeoville, Ill.'s general obligation rating to Aa2 from Aa3.

Washington’s historic Arlington Memorial Bridge over the Potomac will be closed in 2021 without $250 million of repairs.

The Bond Dealers of America is urging the Ways & Means Committee to preserve the tax exemption of municipal bonds, saying this is the “most effective financing method our nation’s critical infrastructure.”

Top-quality municipal bonds were weaker at mid-session, traders said, ahead of next week’s $8.6 billion calendar, which is headlined by large deals from California, New York and Nevada issuers.

Ongoing budget woes in Paterson, N.J. that led to a one-day government shutdown on March 1 are a credit negative for New Jersey’s third largest city, according to Moody’s Investors Service.

UBS won an arbitration case in which the estate of a deceased client had sought $3.5 million in damages related to the firm's sale of Puerto Rico closed-end funds and bonds.

After a busy week of heavy new issuance, traders catch a break for a day before heading into the upcoming week which features more sales of size from California and New York issuers.

U.S. inflationary pressures were up in February, as the U.S. future inflation gauge gained to 105.1 from an upwardly revised 103.4 reading in January, according to data released Friday morning by the Economic Cycle Research Institute.

Bondholders banking on the Chicago Public Schools’ ability to stabilize its rocky finances lost ground this week as the district’s labor woes intensified and lawmakers advanced an attack on its governance structure.

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Indicator Last Report Forecast Actual Initial Claims 2/20: 272,000 2/27: 271,000 2/27: 278,000 Continuing Claims 2/13: 2.253M 2/20: 2.255M 2/20: 2.257M Productivity Q3: +2.1% Q4: -3.3% Q4: -2.2% Unit Labor Costs Q3: +1.9% Q4: +4.7% Q4: +3.3% Factory Orders Dec.: -2.9% Jan.: +2.0% Jan.: +1.6% ISM Non-Manufacturing Jan.: 53.5 Feb.: 54.0 Feb.: 53.4

Mar. 4, 2016 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.41 1.01 1.95 3.01 Florida Aa1/AAA/AAA 0.39 1.06 1.95 2.98 Georgia Aaa/AAA/AAA 0.39 0.97 1.81 2.85 Kentucky Aa2/A+/AA+ 0.43 1.11 2.01 3.08 Louisiana Aa3/AA/AA 0.48 1.25 2.21 3.28 Mississippi Aa2/AA/AA+ 0.41 1.07 2.04 3.11 North Carolina Aaa/AAA/AAA 0.39 0.96 1.8 2.85 South Carolina Aaa/AA+/AAA 0.39 1 1.86 2.89 Tennessee Aaa/AA+/AAA 0.39 0.98 1.84 2.86 Virginia Aaa/AAA/AAA 0.38 0.96 1.8 2.84 West Virginia Aa1/AA/AA+ 0.4 1.04 1.93 3

ALABAMA