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Government

Initiative that would require California legislators to wear donor logos on their clothing moves forward.

Texas sales tax revenue in December fell 1.1% to $2.33 billion as low oil prices continued to undermine the state’s economy.

Arkansas revenues for December fell below those reported for the same month in 2014 but managed to surpass expectations by $7.7 million.

Bank of America Merrill Lynch retained its spot as the top municipal book-runner in 2015, as Citi jumped into second place and the gap between the three biggest muni underwriters narrowed.

Municipals were stronger on Wednesday, traders said, with yields on some top-quality maturities weakening by as much as nine basis points. Treasuries surged as stocks slumped on worries about the economic situation in China and the military one in North Korea. Late in the session, the Federal Reserve released the minutes from its last monetary policy meeting.

The new chief executive officer of a California municipal advisory firm plans to grow the firm by acquiring smaller firms as the industry consolidates in the new regulatory environment.

The Municipal Securities Rulemaking Board is seeking comment on a proposal it says would lessen the effect of interdealer transaction failures on the municipal market while providing needed changes to an outdated rule.

States are looking at special taxes and user fees as number of alternatively fueled vehicles grow.

Louisiana faces a budget deficit of $2.65 billion in fiscal 2016 and 2017 that Gov.-elect John Bel Edwards and Administration Commissioner Jay Dardenne have vowed to fix.

The decision to liftoff from zero lower bound rates was a "close call" for some Federal Open Market Committee voters, as "almost all" of the 17 participants believed conditions for a rate hike had been met, according to minutes of the December 15-16 meeting, released Wednesday.

Illinois’ first bond offering statement in 20 months lays out a trove of warnings about the state’s stressed fiscal condition, from failed pension reforms and budget gridlock to its weakened credit and negative swap valuations.

New York Gov. Andrew Cuomo unveiled Wednesday plans for the largest capital program in the state’s history aimed at upgrading transportation infrastructure.

A group of lawyers is urging tax regulators to make some revisions and clarifications to proposed issue price rules to avoid confusion and make the rules more workable.

Municipals were stronger at mid-session, according to traders, with yields on some top-quality maturities weakening by as much as six basis points.

Standard & Poor's Ratings Services said it lowered its rating three notches to BBB from A on Tunica County, Miss.'s general obligation debt and placed it on CreditWatch with negative implications.

The municipal market is in a dire need of realistic optionless yield curves.

Texas’ economy is suffering from lower energy prices, according to the latest statistics, while New Jersey faces mounting challenges as absentee Gov. Chris Christie runs for president.

About 5,407,700 online job postings appeared on leading Internet job boards in December, a decrease of 276,800 from November, the Conference Board reported Wednesday.

Indicator Last Report Forecast Actual ADP Employment Report Nov.: +211,000 Dec.: +190,000 Dec.: +257,000 International Trade Oct.: -$44.6B Nov.: -$45.0B Nov.: -$42.4B Factory Orders Oct.: +1.3% Nov.: -0.2% Nov.: -0.2% ISM Non-Manufacturing Nov.: 55.9 Dec.: 56.0 Dec.: 55.3