News and Information from Bond Buyer

Interest rates should remain low since inflation will be below target until at least 2018, according to Federal Reserve Bank of Chicago President and Chief Executive Officer Charles L. Evans.

Raymond James has hired 25-year investment banking veteran Reuben McDaniel as a managing director in the firm's New York office.

The municipal high yield sector, slumping since before the second quarter, started to rally in October.

Municipal bond traders and other market participants return to work after having Wednesday off, and will see a few large deals from issuers in Illinois, California and Virginia.

The time has come to raise the fed funds target rate and start edging the Fed's balance sheet "toward more normal settings," Federal Reserve Bank of St. Louis President and CEO James Bullard said Thursday.

Week Of November 9 Issuer St Description Amount

Thursday, November 12 Issuer St Description Amount

Thursday, November 12 Issuer St Description Amount

CALIFORNIA

CALIFORNIA

Nov. 12, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.27 1.37 2.27 3.3 Florida Aa1/AAA/AAA 0.29 1.42 2.34 3.32 Georgia Aaa/AAA/AAA 0.27 1.32 2.19 3.19 Kentucky Aa2/AA+/AA+ 0.31 1.46 2.39 3.42 Louisiana Aa2/AA/AA 0.4 1.67 2.67 3.68 Mississippi Aa2/AA/AA+ 0.32 1.48 2.44 3.47 North Carolina Aaa/AAA/AAA 0.27 1.32 2.19 3.2 South Carolina Aaa/AA+/AAA 0.27 1.34 2.22 3.23 Tennessee Aaa/AA+/AAA 0.27 1.32 2.21 3.21 Virginia Aaa/AAA/AAA 0.26 1.31 2.18 3.18 West Virginia Aa1/AA/AA+ 0.29 1.36 2.32 3.35

11/11/2015 11/4/2015 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 0 $0 0 $0 0 Florida 4 1,875,130 9 325,945 1,549,185 Georgia 0 0 2 182,005 -182,005 Kentucky 3 41,490 6 113,405 -71,915 Louisiana 1 3,250 2 74,415 -71,165 Mississippi 1 5,000 0 0 5,000 North Carolina 1 6,900 3 142,950 -136,050 South Carolina 0 0 0 0 0 Tennessee 2 17,320 1 5,505 11,815 Virginia 7 428,070 7 427,295 775 West Virginia 0 0 1 64,910 -64,910

Puerto Rico Highways and Transportation Authority repurchased $228.5 million of transportation revenue refunding bonds issued in 2007, reducing Ambac Financial Group, Inc.'s exposure in Puerto Rico.

Texas voters approved $8.7 billion of the $9.1 billion of bonds on local ballots, according to the latest tabulations.

Moody's Investors Service issued a short report stating that Puerto Rico (rated Caa3/negative outlook) is likely to default on some of its Dec. 1 debt service payments as its liquidity pressure grows.

The fiscally stressed Detroit Public Schools’ latest financial results offer a mixed bag as its general fund deficit grew but at a slower pace than expected.

A lengthy battle between a bond trustee and bankrupt Chicago-area hockey arena operator Leafs Hockey Club over $20 million of unrated bonds is nearing an end.

Kentucky’s expanding economy and solid fiscal results are positive credit factors, yet large pension liabilities and rising debt are headwinds, said Moody's Investors Service.

Recent MCDC settlements provide guidance concerning the scope of materiality in continuing disclosure obligations.