News and Information from Bond Buyer

Louisiana's budget deficit is a credit negative and it has a narrow window to cure its current-year shortfall, Moody's Investors Service said Monday.

High yields and a statutory lien on state aid are what the junk-rated Chicago Public Schools offer investors willing to overlook its precarious cash ledger, bleak budget outlook, and downward credit spiral.

Top-shelf municipal bonds were steady to weaker at mid-session, traders said, as yields on some maturities strengthened by as much as a basis point.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.255% high rate, up from 0.215% the prior week, and the six-months incurred a 0.370% high rate, off from 0.470% the week before.

The Treasury Department said Tuesday it will sell $50 billion of four-week discount bills Wednesday.

Oklahoma's 3% mid-year cuts to school districts are credit negative because they hinder the districts from paying for budgeted expenditures for the remainder of the school year, according to Moody's Investors Service.

Atlantic City Emergency Manager Kevin Lavin stopped short of recommending bankruptcy in his second report on the financially strapped Jersey Shore gambling hub.

Indicator Last Report Forecast Actual NAHB Housing Index Dec.: 60 Jan.: 60 Jan.: 60

Builders' confidence in the market for new single-family homes was steady as the National Association of Home Builders' housing market index remained at 60 in January from a downwardly revised 60 in December.

Municipal bond traders are back at work on Tuesday after the long holiday weekend. Muni new issue volume is forecast at $5.46 billion for the week with several large deals on tap, led by two competitive sales from Washington state.

The New York region's service sector activity "marginally improved," according to the Federal Reserve Bank of New York's January Business Leaders Survey, released Tuesday.

Alan Rubin, a managing director at Tigress Financial Partners, discusses catastrophe financing with Bond Buyer senior northeast reporter Paul Burton.

Tuesday, January 19 Issuer St Description Amount

Tuesday, January 19 Issuer St Description Amount

Week Of January 19 Issuer St Description Amount

MASSACHUSETTS

ARIZONA

Day Indicator Last Report Forecast Tuesday NAHB Housing Index Dec.: 61 Jan.: 60 Wednesday CPI Nov.: unch Dec.: unch Wednesday CPI Core Nov.: +0.2% Dec.: +0.2% Wednesday Housing Starts Nov.: 1.173M Dec.: 1.200M Wednesday Building Permits Nov.: 1.282M Dec.: 1.200M Thursday Initial Jobless Claims 1/9: 284,000 1/16: 279,000 Thursday Continuing Claims 1/2: 2.263M 1/9: 2.245M Thursday Philly Fed Manufacturing Dec.: -10.2 Jan.: -5.0 Friday Existing Home Sales Nov.: 4.76 Dec.: 5.20

Jan. 19, 2016 Southwest: Plain/Insured GO Yield Curve* Southwest: GO Yield Curves for Jan. 14, 2016 State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA?/NR 0.53 1.23 2.01 2.98 Arkansas Aa1/AA/NR 0.50 1.17 1.88 2.83 Colorado Aa1/AA/NR 0.50 1.21 1.97 2.96 Kansas Aa2/AA/NR 0.48 1.21 1.97 2.92 New Mexico Aaa/AA+/NR 0.48 1.15 1.88 2.86 Oklahoma Aa2/AA+/AA+ 0.52 1.23 1.99 2.96 Texas Aaa/AAA/AAA 0.50 1.19 1.93 2.90 Utah Aaa/AAA/AAA 0.48 1.09 1.78 2.74

1/18/2016 1/11/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 2 $14,990 2 54,175 -$39,185 Arkansas 3 16,650 5 22,705 -6,055 Colorado 2 38,390 0 0 38,390 Kansas 7 111,450 8 271,376 -159,926 New Mexico 4 117,270 2 31,100 86,170 Oklahoma 4 7,890 13 16,425 -8,535 Texas 33 1,144,788 47 1,157,587 -12,799 Utah 0 0 2 154,025 -154,025