News and Information from Bond Buyer

Monday, January 25 Issuer St Description Amount

Jan. 25, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.52 1.32 2.12 3.18 Delaware Aaa/AAA/AAA 0.43 1.01 1.71 2.7 Maine Aa2/AA/AA 0.46 1.07 1.81 2.81 Maryland Aaa/AAA/AAA 0.45 1.05 1.75 2.71 Massachusetts Aa1/AA+/AA+ 0.48 1.1 1.85 2.86 New Hampshire Aa1/AA/AA+ 0.46 1.05 1.77 2.8 New Jersey A2/A/A 0.8 1.73 2.61 3.61 New York Aa1/AA+/AA+ 0.45 1.03 1.78 2.87 Pennsylvania Aa3/AA+/AA+ 0.65 1.36 2.22 3.19 Rhode Island Aa2/AA/AA 0.53 1.27 2.07 3.06 Vermont Aaa/AA+/AAA 0.45 1.04 1.74 2.72 Dist. of Columbia Aa1/AA/AA 0.49 1.11 1.86 2.9 Puerto Rico Caa3/CC/CC 12.95 13.53 11.32 8.56

Week Of January 25 Issuer St Description Amount

Week Of January 25 Issuer St Description Amount

1/22/2016 1/15/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 4 $288,300 2 $58,275 $230,025 Delaware 0 0 0 0 0 Maine 0 0 0 0 0 Maryland 1 40,000 2 90,955 -50,955 Massachusetts 5 231,821 5 496,400 -264,579 New Hampshire 0 0 0 0 0 New Jersey 7 72,268 6 69,288 2,980 New York 9 987,783 9 423,924 563,859 Pennsylvania 5 165,715 10 190,605 -24,890 Rhode Island 0 0 0 0 0 Vermont 0 0 1 170,000 -170,000 District of Columbia 0 0 1 372,250 -372,250 Puerto Rico 1 750,000 1 750,000 0

ALABAMA

Day Indicator Last Report Forecast Tuesday Consumer Confidence Dec.: 96.5 Jan.: 96.5 Wednesday New Home Sales Nov.: 490,000 Dec.: 500,000 Thursday Durable Goods Nov.: unch Dec.: -0.3% Thursday ex-Trans Nov.: -0.1% Dec.: -0.2% Thursday Initial Jobless Claims 1/16: 293,000 1/23: 285,000 Thursday Continuing Claims 1/9: 2.208M 1/16: 2.217M Thursday Pending Home Sales Nov.: -0.9% Dec.: +0.7% Friday Employment Cost Index Q3.: +0.6% Q4: +0.6% Friday GDP Q3.: +2.0% Q4: +0.8% Friday Final Sales Q3.: +2.7% Q4: +2.0% Friday Core PCE Deflator Q3.: +1.4% Q4: +0.8% Friday Chicago PMI Dec.: 42.9 Jan.: 45.0 Friday Michigan Sentiment Dec.: 92.6 Jan.: 93.0 Friday Current Conditions Dec.: 108.1 Jan.: 105.5 Friday Expectations Dec.: 82.7 Jan.: 84.5

Jeffrey M. Mahoney has joined Siebert Brandford Shank & Co. as Managing Director in institutional sales, the firm announced on Monday. Mahoney will be working out of SBSCO's New York office on Wall Street.

Atlantic City’s already junk-level general obligation debt rating was slashed four notches to CCC-minus from B by Standard & Poor’s, citing a “near-term liquidity crisis.”

Government

California’s legislative analyst says lawmakers should modify the state’s cap-and-trade law on greenhouse emissions to ease spending restrictions on the program’s revenues.

Puerto Rico’s legislature is a week or two away from passing energy reform legislation despite the fact that the power authority facing a midnight Jan. 22 deadline.

New York’s Nassau County is planning a $273 million bond sale next week to refinance old debt.

Alaska Gov. Bill Walker used Thursday night’s State of the State address to make a forceful call for immediate fiscal reforms and new revenue

A Republican plan to put Chicago Public Schools on a possible path toward bankruptcy was declared dead on arrival, but resonated with the municipal bond market ahead of a deal Wednesday.

Municipal volume is forecast to $5.4 billion in the upcoming week, after a volatile week in the markets. Next week's volume is estimated by Ipreo to consist of $3.8 billion of negotiated deals and $1.6 billion of competitive sales. Volume will be a tad higher from the past week's revised total, which was $5.1 billion, according to Thomson Reuters.

The Association of Financial Guaranty Insurers is urging House and Senate leaders to pursue federal oversight of Puerto Rico but avoid bankruptcy access for the commonwealth.

All Aboard Florida said it will sell $1.75 billion of tax-exempt private activity bonds for its $3.5 billion passenger train project as market conditions improve.

Virginia planners determine that express toll lanes on Interstate 66 is best way to cut travel times.

Market technicals – a lack of supply and significant Jan. 1 rollover proceeds – are bolstering municipal demand and price stability in the New Year so far, according to Jeffrey Lipton, head of municipal research and strategy at Oppenheimer & Co.