News and Information from Bond Buyer

New Jersey tax collections are up near the midway point of the 2016 fiscal year, but still lag behind projected revenue growth, according to the State Department of Treasury.

Virginia Gov. Terry McAuliffe proposed a two-year budget for fiscal years 2017 and 2018 that includes a total of $2.84 billion in bond financing.

As of midday on Friday, munis were stronger as yields on some maturities were as many as three basis points lower, according to traders. Volume for next week looks bleak, as an estimated $73 million will be hitting the primary market, according to Ipreo, which would be way down from $1.98 billion that priced this week, according to Thomson Reuters.

As Michael Nutter's eight-year Philadelphia mayoral run winds down, his city is in far better fiscal shape than when he entered City Hall in January 2008.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell two basis points to 4.24% in the week ended Dec. 17 from 4.26% in the prior week.

The municipal bond market on Friday was set to wrap up the week as traders closed the books on this week’s skinny slate. While it was pretty quiet compared to the rest of the year’s weekly supply, the upcoming muni calendar makes this week look like Niagara Falls compared to the Sahara Desert.

Puerto Rico's electric utility reached a tentative agreement with bond-insurance companies and some bondholders to restructure the utility's $8.2 billion of debt, according to two people with knowledge of the discussions.

California remains $664 million ahead of revenue projections for fiscal 2016 though cash for November was a half billion shy of expectations, according to the Department of Finance.

Dec. 18, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.5 1.34 2.07 2.99 California Aa3/A/A 0.52 1.35 2.18 3.1 Hawaii Aa2/AA/AA 0.52 1.37 2.15 3.1 Idaho Aa1/AA+/AA+ 0.5 1.37 2.16 3.08 Montana Aa1/AA/AA+ 0.5 1.36 2.17 3.1 Nevada Aa2/AA/AA+ 0.54 1.39 2.22 3.16 Oregon Aa1/AA+/AA+ 0.5 1.32 2.06 3.01 Washington Aa1/AA+/AA+ 0.53 1.37 2.18 3.13 Wyoming NR/AAA/NR 0.5 1.35 2.08 2.99

12/17/2015 12/10/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 $0 0 $0 $0 California 1 6,000 5 448,205 -442,205 Hawaii 0 0 0 0 0 Idaho 0 0 0 0 0 Montana 0 0 0 0 0 Nevada 0 0 0 0 0 Oregon 0 0 0 0 0 Washington 2 530,085 0 0 530,085 Wyoming 0 0 0 0 0

Indicator Last Report Forecast Actual Initial Jobless Claims 12/5: 282,000 12/12: 275,000 12/12: 271,000 Continuing Claims 11/28: 2.243M 12/5: 2.203M 12/5: 2.238M Philly Fed Manufacturing Nov.: 1.9 Dec.: 1.9 Dec.: -5.9

Monday, December 21 Issuer St Description Amount

Monday, December 21 Issuer St Description Amount

Friday, December 18 Issuer St Description Amount

Week Of December 21 Issuer St Description Amount

ALABAMA

ARKANSAS

Louisiana will use a short-term borrowing strategy to avoid disclosure requirements that would be challenging in the midst of a gubernatorial transition.

Puerto Rico Aqueduct and Sewer Authority financial results in the first quarter of fiscal year 2016 were mixed.