News and Information from Bond Buyer

Connecticut should phase in a reduction of its investment return assumption from 8% to 7% to conform “more realistically” to capital markets expectations, said state Treasurer Denise Nappier.

Municipal experts awaiting the Federal Reserve’s decision on interest rates said a host of other stressors – from a lack of supply and credit concerns to unfunded pension liabilities and yield curve positioning – were high on their list of concerns heading into the new year.

The municipal bond market is set to see most of the week’s new issues hit the screens on Tuesday, as traders clear the decks ahead of the Federal Reserve’s monetary policy decision.

The Empire State Manufacturing Survey general business conditions index narrowed to negative 4.59 in December from negative 10.74 in November, according to the Federal Reserve Bank of New York which reported Thursday.

Dec. 15, 2015 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.53 1.39 2.17 3.07 Arkansas Aa1/AA/NR 0.5 1.29 2 2.89 Colorado Aa1/AA/NR 0.5 1.35 2.1 3.02 Kansas Aa1/AA+/NR 0.48 1.35 2.1 2.98 New Mexico Aaa/AA+/NR 0.48 1.29 2.01 2.92 Oklahoma Aa2/AA+/AA+ 0.52 1.38 2.12 3.02 Texas Aaa/AAA/AAA 0.51 1.34 2.07 2.97 Utah Aaa/AAA/AAA 0.48 1.23 1.91 2.8

12/14/2015 12/7/2015 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 3 $40,125 5 178,660 -$138,535 Arkansas 3 14,720 5 51,935 -37,215 Colorado 2 77,440 9 519,275 -441,835 Kansas 5 18,690 6 38,678 -19,988 New Mexico 0 0 1 57,275 -57,275 Oklahoma 2 13,840 4 7,800 6,040 Texas 31 524,135 39 534,488 -10,353 Utah 3 145,020 2 31,500 113,520

CALIFORNIA

Tuesday, December 15 Issuer St Description Amount

Tuesday, December 15 Issuer St Description Amount

Week Of December 14 Issuer St Description Amount

Week Of December 14 Issuer St Description Amount

INDIANA

Most U.S. states have enacted budgets that contain only modest spending increases in the next fiscal year, according to a report released on Tuesday by the National Association of State Budget Officers.

New York education, healthcare and non-profit issuers with strong credit will now be able to expedite their transactions under new guidelines approved by the Dormitory Authority of the State of New York.

Government

Puerto Rico Gov. Alejandro García Padilla said the campaign would be a distraction from his effort to handle the island’s fiscal crisis.

Chicago Teachers’ Union members overwhelming authorized a strike in a vote taken last week.

Illinois’ release of motor fuel tax, gambling, and emergency surcharge revenues to local governments is a positive credit move for municipalities, says Moody’s Investors Service.

The AFL-CIO Housing Investment Trust announced a partnership to invest up to $300 million in Metro New York affordable housing, community centers and care facilities.

Supporters of an initiative that would shift $8 billion in bond money from California’s high speed rail to water projects say their aim is to reprioritize how the state’s bond money is spent.