News and Information from Bond Buyer

Justin Pica plans to leave the Municipal Securities Rulemaking Board next month after more than 15 years to join the Securities and Exchange Commission’s trading and markets division in January.

Legislative gridlock in Congress over long-term transportation funding is causing problems for the states.

Despite strong revenue numbers, the California Legislative Analyst's Office cautioned legislators against increasing spending on programs that could be hard to maintain if an economic downturn occurs.

Jefferson County, Ala.,’s 2013 sewer system debt remains at junk levels even though the county’s post-bankruptcy plan is working as intended so far, Fitch said while affirming its double-B ratings.

Municipal market trading plummeted to $551 billion in the third quarter, the lowest level since at least 2005 when the Municipal Securities Rulemaking Board began recording the statistics, according to the board.

The Cook County, Ill., fiscal 2016 budget includes an alternative pension funding mechanism that Fitch Ratings believes has the potential to advance the discussion on appropriate funding of public pensions in Illinois.

Some Alaska officials, facing persistent low oil prices that could threaten the state’s triple-A rating, say it needs to change the way it does business, which may include new taxes and changes to the way it handles its large financial reserves.

The Treasury Department sold $13 billion of inflation-indexed 9-year 8-month TIPs at a 0.664% high yield, an adjusted price of 97.643334, with a 3/8% coupon.

Cook County, Illinois board President Toni Preckwinkle defended its newly approved $4.5 billion 2016 budget, which relies on several tax hikes, as a “responsible” plan to meet county’s pension and budget needs.

Puerto Rico officials said they would present the structure of a proposed comprehensive debt exchange to various creditors Friday.

Municipals were stronger at mid-session, traders said, with yields on some maturities falling by as much as five basis points.

A proposed California ballot initiative could limit financing for the state's major infrastructure projects, Fitch Ratings says.

The Treasury Department said it will auction $13 billion one-year 11-month floating rate notes on Tuesday, Nov. 24.

The Treasury Department said it will auction $29 billion seven-year notes on Wednesday, Nov. 25.

The Treasury Department said Thursday it will auction $28 billion 90-day bills and $26 billion 181-day discount bills Monday.

New Jersey collected just over $2.06 billion in revenue during October and remains on track to finish ahead of last year's numbers, according to Acting State Treasurer Ford M. Scudder.

Tennessee said a recent general obligation offering was oversubscribed more than five times helping to generate some of the lowest interest rates in its history.

Although a rate hike in December is not guaranteed, "things are on track," according to projections, Federal Reserve Bank of Cleveland President Loretta Mester said Thursday in attempting to explain the statement from the Federal Open Market Committee following its last meeting.

The composite index of Leading Economic Indicators was up 0.6% in October following a 0.1% dip in September, first reported as a 0.2% slide, the Conference Board reported Thursday.

Indicator Last Report Forecast Actual Initial Jobless Claims 11/7: 276,000 11/14: 272,000 11/14: 271,000 Continuing Claims 10/31: 2.177M 11/7: 2.170M 11/7: 2.175M Philly Fed Manufacturing Oct.: -4.5 Nov.: -0.5 Nov.: +1.9