News and Information from Bond Buyer

A hungry primary market gets a $250 million taste of top-rated Texas variable-rate debt from the Veterans Land Board.

Facing a $2.65 billion budget deficit, newly elected Gov. John Bel Edwards has released a slate of options that he said would deal with the largest budget shortfall Louisiana has ever faced.

Arkansas Gov. Asa Hutchinson wants to raise state transportation funding by $750 million over 10 years without raising taxes.

The headwinds for Chicago Public Schools intensified on Wednesday as one of its ratings sank deeper into junk territory and the state's minority Republican leaders mounted a takeover effort backed by Gov. Bruce Rauner.

The Municipal Securities Rulemaking Board plans to discuss bank loans and dealer disclosure of markups to retail customers during its board meeting here next week.

Aging and underfunded infrastructure is the greatest challenge for mayors, according to a survey sponsored by the U.S. Conference of Mayors and The Boston University Initiative and supported by Citi.

Top-rated municipal bonds were stronger at mid-session, according to traders, as yields on most maturities weakened from two to four basis points.

Atlantic City Mayor Donald Guardian is eyeing bankruptcy after Gov. Chris Christie rejected a financial rescue package.

New Hampshire ended its 2015 fiscal year with a $62 million surplus, according to the state's new Comprehensive Annual Financial Report.

The Treasury Department Wednesday auctioned $50 billion of four-week bills at a 0.250% high yield, a price of 99.980556.

Rep. Brad Montell, R-Shelbyville, wants the Bluegrass state to study municipal bankruptcy laws around the country, and determine if the state should institute an oversight program.

Mayor Eric Garcetti named his former rival's chief of staff, Claire Bartels, to head Los Angeles' Office of Public Finance.

Fitch Ratings said it has downgraded to B-plus from BB-plus approximately $6.1 billion of outstanding Chicago Board of Education unlimited tax general obligation (ULTGO) bonds

Standard & Poor's Ratings Services said it revised its outlook to negative from stable and affirmed its A-plus long-term rating on Nassau County, N.Y.'s general obligation bonds and its A rating assigned to the Nassau Regional Off-Track Betting Corp.'s 2005 revenue.

The Chicago Business Barometer was unrevised at 42.9 in December, but activity in the second half of 2015 was revised lower as a result of the annual seasonal adjustment recalculation.

The law firm Orrick, Herrington & Sutcliffe will include a public finance team as part of its new Houston law offices that will hire 20 lawyers from other firms.

Top-rated municipal bonds were stronger in early activity on Wednesday, according to traders, as yields on most maturities weakened from two to four basis points.

Indicator Last Report Forecast Actual CPI Nov.: unch Dec.: unch Dec.: -0.1% CPI Core Nov.: +0.2% Dec.: +0.2% Dec.: +0.1% Housing Starts Nov.: 1.179M Dec.: 1.200M Dec.: 1.149M Building Permits Nov.: 1.282M Dec.: 1.200M Dec.: 1.232M

Jan. 20, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.38 2.37 3.3 4.3 Indiana Aaa/AAA/AA+ 0.48 1.13 1.87 2.82 Iowa Aaa/AAA/AAA 0.48 1.14 1.87 2.82 Michigan Aa1/AA+/AA 0.52 1.2 1.98 2.95 Minnesota Aa1/AA+/AA+ 0.49 1.1 1.79 2.74 Missouri Aaa/AAA/AAA 0.48 1.06 1.76 2.71 Nebraska NR/AAA/NR 0.48 1.15 1.92 2.9 North Dakota Aa1/AA+/NR 0.51 1.2 1.95 2.9 Ohio Aa1/AA+/AA+ 0.5 1.15 1.92 2.88 South Dakota NR/AA+/AA+ 0.52 1.19 1.95 2.92 Wisconsin Aa2/AA/AA 0.51 1.17 1.9 2.85