News and Information from Bond Buyer

Chicago’s unfunded pension obligations could continue to swell for at least the next decade, even under a best-case scenario, Moody’s Investors Service concludes in a new report.

The Municipal Securities Rulemaking Board is proposing amendments to move the municipal securities industry to a T+2 settlement cycle instead of the current T+3 in the wake of continued calls from across the securities industry and support from regulatory officials.

Palm Beach County, Fla. is selling bonds for its second two-team ballpark in an effort to rejuvenate Major League Baseball spring training on the state’s east coast.

Bitvore Corp. has opened up its intelligence platform to other companies that have built their own in-house portfolio management and trading platforms or are third party developers of these systems.

A decline in Texas school district revenue streams of approximately $1.2 billion per biennium should not affect their bond ratings, Fitch Ratings says.

Maryland gets $27.9 million grant to study a 40-mile magnetic levitation train route expected to cost $10 billion.

Standard & Poor's Ratings Services said it lowered its long-term rating on Garza County Public Finance Corp., Texas' outstanding revenue debt to BBB from BBB-plus.

Municipal bonds were steady at midday, according to traders, with yields on top-quality munis unchanged from Monday's close.

The Treasury Department auctioned $21 billion of 10-year notes with a 2 1/4% coupon at a 2.304% high yield, a price of 99.520193.

In September Puerto Rico's economic activity index went up on a year-over-year basis for the first time since December 2012.

New Jersey Gov. Chris Christie said he would meet soon with state Senate President Steve Sweeney to discuss Atlantic City’s fiscal woes.

Standard & Poor's Ratings Services said it lowered its long-term rating to A-minus from A on Hempstead Town Local Development Corp., N.Y.'s outstanding revenue bonds issued for Adelphi University.

The Treasury Department Tuesday auctioned $52 billion of four-week bills at a 0.075% high yield, a price of 99.994167.

The Treasury Department Tuesday auctioned $12 billion of 364-day bills at a 0.500% high yield, a price of 99.494444.

The SEC recently approved a new set of rules that would likely alter the behavior of one of the municipal bond market's largest, and one of the most influential, investor segments of the industry — mutual funds. Surprisingly, the industry appears not to be considering its full implications outside of a few closed circles.

Neel Kashkari has been chosen to replace Narayana Kocherlakota as president and chief executive officer of the Federal Reserve Bank of Minneapolis, effective Jan. 1, 2016, the Bank announced Tuesday.

Indicator Last Report Forecast Actual Import Prices Sept.: -0.6% Oct.: -0.1% Oct.: -0.5% Export Prices Sept.: -0.6% Oct.: -0.2% Oct.: -0.2% Wholesale Inventories Aug.: +0.3% Sept.: unch Sept.: +0.5% Wholesale Sales Aug.: -0.9% Sept.: +0.1% Sept.: +0.5%

Standard & Poor's Ratings Services said it raised its long-term rating on Greenwood Public Library, Ind.'s series 2010 general obligation refunding and improvement bonds to A from A-minus.

The first noteworthy deals of the week hit screens on Tuesday, as six large deals are expected to price.

The New York City Municipal Water Finance Authority intends to sell about $340 million of refunding and new money bonds on Nov. 17.