News and Information from Bond Buyer

Prices on top-shelf municipal bonds opened slightly weaker Friday, with yields on some maturities as much as one basis point higher.

The Securities and Exchange Commission’s Office of Municipal Securities is weighing whether to provide legal interpretive guidance to help municipal advisors determine if they are acting as an adviser or broker-dealer when working with an issuer on a bank loan.

Municipal bond funds stayed on a fund flow see-saw, reporting inflows for the latest week.

With the economy on “a satisfactory track,” liftoff should occur this year, Federal Reserve Bank of Atlanta President Dennis Lockhart said Friday.

Public finance guru Richard Ravitch identifies Puerto Rico, pension liability, New York regional transit and other public finance red flags in a podcast with Bond Buyer senior Northeast reporter Paul Burton.

Oct. 9, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.23 1.29 2.12 3.17 California Aa3/A/A 0.24 1.29 2.24 3.39 Hawaii Aa2/AA/AA 0.25 1.33 2.2 3.26 Idaho Aa1/AA+/AA+ 0.23 1.33 2.2 3.26 Montana Aa1/AA/AA+ 0.23 1.32 2.21 3.28 Nevada Aa2/AA/AA+ 0.29 1.39 2.24 3.33 Oregon Aa1/AA+/AA+ 0.23 1.28 2.11 3.17 Washington Aa1/AA+/AA+ 0.26 1.35 2.27 3.35 Wyoming NR/AAA/NR 0.23 1.31 2.12 3.17

10/8/2015 10/1/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 1 $55,710 1 $55,710 $0 California 16 885,340 16 990,055 -104,715 Hawaii 0 0 1 61,250 -61,250 Idaho 1 30,000 0 0 30,000 Montana 0 0 0 0 0 Nevada 5 344,875 0 0 344,875 Oregon 0 0 0 0 0 Washington 4 104,700 8 455,180 -350,480 Wyoming 0 0 0 0 0

Friday, October 9 Issuer St Description Amount

Tuesday, October 13 Issuer St Description Amount

Week Of October 13 Issuer St Description Amount

Friday, October 9 Issuer St Description Amount

CALIFORNIA

ALABAMA

The first issue of bonds for Texas’ newly authorized water development projects were oversubscribed by more than two times as institutional and retail investors gulped down the top-rated credit.

Government

In the week ended Oct. 8, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell one basis point to 4.37% from 4.38% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The board of directors of the Puerto Rico Electric Power Authority has given the green light to possible rate increases, according to reports in the Puerto Rico press.

A $28.52 million green bond sale by Vermont on Oct. 5 will help fund sustainable infrastructure projects, according to State Treasurer Beth Pearce.

Piper Jaffray Cos.’ acquisition of Bank of Montreal’s Chicago-based municipal bond sales, trading and origination business, BMO Capital Markets GKST Inc., is expected to close Friday.

Prices of top quality municipal bonds were weaker at Thursday’s close, as yields on some maturities were as much as two basis points higher.