News and Information from Bond Buyer

Tuesday, January 5 Issuer St Description Amount

Monday, January 4 Issuer St Description Amount

Week Of January 4 Issuer St Description Amount

Week Of January 4 Issuer St Description Amount

1/1/2016 12/25/2015 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 2 $21,000 1 $10,000 $11,000 Delaware 0 0 0 0 0 Maine 1 7,500 0 0 7,500 Maryland 0 0 0 0 0 Massachusetts 4 189,451 2 29,650 159,801 New Hampshire 0 0 0 0 0 New Jersey 3 218,033 2 204,436 13,597 New York 12 68,336 6 64,116 4,220 Pennsylvania 3 85,040 0 0 85,040 Rhode Island 0 0 0 0 0 Vermont 0 0 0 0 0 District of Columbia 3 102,825 3 102,825 0 Puerto Rico 1 750,000 1 750,000 0

Jan. 4, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.57 1.52 2.33 3.3 Delaware Aaa/AAA/AAA 0.48 1.24 1.92 2.81 Maine Aa2/AA/AA 0.51 1.33 2.02 2.92 Maryland Aaa/AAA/AAA 0.5 1.28 1.96 2.82 Massachusetts Aa1/AA+/AA+ 0.52 1.33 2.05 2.97 New Hampshire Aa1/AA/AA+ 0.51 1.32 2.01 2.94 New Jersey A1/A/A 0.85 2.06 2.86 3.77 New York Aa1/AA+/AA+ 0.5 1.27 1.98 2.99 Pennsylvania Aa3/AA+/AA+ 0.7 1.62 2.4 3.32 Rhode Island Aa2/AA/AA 0.58 1.5 2.28 3.17 Vermont Aaa/AA+/AAA 0.5 1.27 1.95 2.83 Dist. of Columbia Aa1/AA/AA 0.54 1.36 2.1 3.03 Puerto Rico Caa3/CC/CC 15.5 16.26 11.28 8.32

Day Indicator Last Report Forecast Monday Construction Spending Oct.: +1.0% Nov.: +0.6% Monday ISM Manufacturing Nov.: 48.6 Dec.: n/a Wednesday ADP Employment Report Nov.: +217,000 Dec.: +190,000 Wednesday International Trade Oct.: -$43.9B Nov.: -$45.0B Wednesday Factory Orders Oct.: +1.5% Nov.: -0.2% Wednesday ISM Non-Manufacturing Nov.: 55.9 Dec.: 56.0 Thursday Initial Claims 12/26: 287,000 1/2: n/a Thursday Continuing Claims 12/19: 2.198M 12/26: n/a Friday Nonfarm Payrolls Nov.: +211,000 Dec.: n/a Friday Private Payrolls Nov.: +197,000 Dec.: n/a Friday Unemployment Rate Nov.: 5.0% Dec.: n/a Friday Avg Hourly Earnings Nov.: +0.2% Dec.: n/a Friday Avg Work Week Nov.: 34.5 Dec.: n/a Friday Wholesale Inventories Oct.: -0.1% Nov.: n/a Friday Wholesale Sales Oct.: unch Nov.: n/a Friday Consumer Credit Oct.: +$16.0B Nov.: n/a

Keith Richard has joined Siebert Brandford Shank & Co. as Managing Director and will lead the Texas region, the firm announced on Monday. Richard will be based in the firm’s Houston office.

Tuesday, January 3 Issuer St Description Amount

Wednesday, January 4 Issuer St Description Amount

Week Of January 3 Issuer St Description Amount

Week Of January 3 Issuer St Description Amount

Day Indicator Last Report Forecast Tuesday Construction Spending Oct.: +0.5% Nov.: +0.5% Tuesday ISM Manufacturing PMI Nov.: 53.2 Dec.: 53.5 Wednesday ADP Employment Nov.: +216,000 Dec.: +170,000 Thursday Initial Claims 12/24: 265,000 12/31: 265,000 Thursday Continuing Claims 12/17: 2.102M 12/24: n/a Thursday ISM Non-Manufacturing PMI Nov.: 57.2 Dec.: 61.0 Friday Nonfarm Payrolls Nov.: +178,000 Dec.: +175,000 Friday Private Payrolls Nov.: +156,000 Dec.: +170,000 Friday Manufacturing Payrolls Nov.: -4,000 Dec.: unch Friday Unemployment Rate Nov.: 4.6% Dec.: 4.7% Friday Avg Hourly Earnings Nov.: -0.1% Dec.: +0.3% Friday Average Workweek Nov.: 34.4 Dec.: 34.4 Friday International Trade Oct.: -$42.6B Nov.: -$42.0B Friday Factory Orders Oct.: +2.7% Nov.: -2.2%

Government

Municipal bonds finished out the year on a strong note, traders said, with yields on top-shelf maturities falling by as much as one basis point in Thursday's abbreviated trading session. The market was closed on Friday in celebration of New Year's Day, with trading set to resume on Monday.

Pennsylvania Gov. Tom Wolf’s release of emergency school funds through a partial budget signing is a positive for the commonwealth’s school districts, says Moody’s.

New York City Comptroller Scott Stringer announced two policies to modernize procurement processes for vendors.

Municipal bond volume fell for a fourth straight month in December, ending the year on a low note, with the past four months being the only ones in 2015 to show year-over-year declines in volume.

Scranton, Pa., made a full, on-time payment to its pension system in what local officials consider another step to restoring credit-worthiness.

The Treasury Department said it will auction $16 billion year bills on Jan. 5.