News and Information from Bond Buyer

Labor market "activity declined as momentum remained high" as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) widened to negative 0.113 in October from a revised negative 0.014 in October, first reported as negative 0.056, according to the Bank.

Outgoing Federal Reserve Bank of Minneapolis President Narayana Kocherlakota will not attend the Federal Open Market Committee next week, the bank said.

Indicator Last Report Forecast Actual Wholesale Inventories Sept.: +0.2% Oct.: +0.1% Oct.: -0.1% Wholesale Sales Sept.: +0.5% Oct.: +0.3% Oct.: unch

Chicago is joining the Chicago Public Schools in delaying plans to sell general obligation debt until the New Year.

After an action-packed day on Tuesday, the primary market will pick up right back where it left off on Wednesday, as more large deals are expected to be priced from issuers in Colorado, California, Georgia and South Carolina.

Wednesday, December 9 Issuer St Description Amount

Wednesday, December 9 Issuer St Description Amount

Week Of December 7 Issuer St Description Amount

Week Of December 7 Issuer St Description Amount

ARKANSAS

ARIZONA

Dec. 9, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.17 2.92 3.69 4.62 Indiana Aaa/AAA/AA+ 0.42 1.33 2.11 3.04 Iowa Aaa/AAA/AAA 0.42 1.34 2.11 3.04 Michigan Aa2/AA/AA 0.46 1.4 2.22 3.17 Minnesota Aa1/AA+/AA+ 0.43 1.31 2.04 2.96 Missouri Aaa/AAA/AAA 0.42 1.26 2 2.93 Nebraska NR/AAA/NR 0.42 1.35 2.16 3.12 North Dakota Aa1/AA+/NR 0.45 1.4 2.19 3.12 Ohio Aa1/AA+/AA+ 0.44 1.36 2.15 3.09 South Dakota NR/AA+/AA+ 0.46 1.39 2.19 3.14 Wisconsin Aa2/AA/AA 0.45 1.33 2.16 3.07

12/8/2015 12/1/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 10 $484,460 10 $125,490 $358,970 Indiana 12 435,785 14 54,170 381,615 Iowa 4 22,125 7 63,175 -41,050 Michigan 3 49,585 16 808,450 -758,865 Minnesota 25 372,380 25 364,655 7,725 Missouri 7 177,580 6 259,010 -81,430 Nebraska 3 33,930 0 0 33,930 North Dakota 2 11,445 2 34,700 -23,255 Ohio 13 450,895 7 295,085 155,810 South Dakota 1 22,705 1 50,000 -27,295 Wisconsin 9 41,795 18 186,170 -144,375

The Los Angeles City Council approved a four-year labor contract that rolls back pension reform measures enacted in 2012.

Government

A bevy of deals priced, including four competitive sales from Empire State Development Corp. that totaled $1.134 billion.

The Port of Seattle Commission has approved a $408.4 million budget for 2016 that includes extensive infrastructure investments as part of a more than $2 billion capital improvement plan.

Pennsylvania’s House approved a state budget that stands in slight contrast with the Senate version as lawmakers look to end a budget stalemate in its sixth month.

The federal revenue losses from tax-exempt public purpose bonds will total $187.7 billion for fiscal years 2015-2019, the Joint Committee on Taxation told House and Senate tax-writing and budget committees this week.

Contribution levels that fall short of actuarially required needs drove growth in the unfunded liabilities of a majority of 11 pension funds that cover Chicago area governments and local government employees throughout the state.