News and Information from Bond Buyer

The University of Michigan's final February consumer sentiment index reading was 91.7, compared to the preliminary February 90.7, and the final January 92.0, according to market sources.

Municipal bond traders were wrapping up an active week and looking ahead to the next one, where the new issue calendar is shaping up to be one of the busiest of the year.

In the second in a series of promised visits by U.S. cabinet secretaries to Puerto Rico, Transportation Secretary Anthony Foxx on Thursday announced steps to speed Federal aid to highway projects on the island.

Tuesday, March 1 Issuer St Description Amount

Friday, February 26 Issuer St Description Amount

Friday, February 26 Issuer St Description Amount

ALABAMA

ARIZONA

Feb. 26, 2016 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AA+/AAA 0.41 1 1.93 2.99 California Aa3/AA+/A+ 0.38 0.97 1.93 2.92 Hawaii Aa2/AA/AA 0.4 0.99 1.9 2.98 Idaho Aa1/AA+/AA+ 0.38 0.97 1.89 2.96 Montana Aa1/AA/AA+ 0.38 0.98 1.9 2.98 Nevada Aa2/AA/AA+ 0.42 1 1.93 3.02 Oregon Aa1/AA+/AA+ 0.38 0.95 1.78 2.86 Washington Aa1/AA+/AA+ 0.39 1.01 1.98 3.07 Wyoming NR/AAA/NR 0.38 0.95 1.81 2.87

Government

Moody's Investors Service downgraded Louisiana’s credit ratings by one notch, impacting $7.3 billion of debt; the state’s general obligation bonds were dropped to Aa3 from Aa2 amid the state’s fiscal crisis.

Overzealous regulators are a big problem for middle-market broker-dealers said Warren Stephens, chief executive officer of Stephens, Inc. and a founding member of the Bond Dealers of America.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was one basis point higher to 4.05% from 4.04% for the previous week.

Legislators are coalescing around a federal oversight authority for Puerto Rico that could take concerns over the commonwealth’s debt, pension, and economic crises and forge unique solutions using congressionally approved oversight and restructuring capabilities.

Top quality municipal bonds finished steady on Thursday, traders said, with yields on all maturities remaining unchanged in light secondary activity. In the primary market, several new deals of size were priced, led by sales in California, New York and Arizona.

Additional spending being proposed for Flint, Detroit schools, and transportation could end up devouring the Michigan revenue growth expected in its fiscal 2017 budget, according to Moody's Investors Service.

New Jersey can seize control of Atlantic's City finances under existing state law even absent passage of a takeover bill, according to a new memo.

Republican lawmakers contend that President Obama is breaking last year's budget agreement with his fiscal 2017 DOT proposal.

Far West issuers sold $83.6 billion of municipal bonds in 2015, a 26.5% increase over the prior year, as refundings continued to drive volume.