News and Information from Bond Buyer

The former chief of Chicago Public Schools was indicated Thursday on charges tied to no-bid contracts worth $23 million.

Chicago Mayor Rahm Emanuel warned Thursday that Congress and the Executive Branch should not hurt two federal loan programs for infrastructure: the Transportation Infrastructure Finance and Innovation Act and the Railroad Rehabilitation & Improvement Financing programs.

Standard & Poor's Ratings Services said it lowered its long-term rating one notch, to A from A-plus on Suffolk County, N.Y.'s outstanding general obligation bonds.

Kroll has weighed in on Chicago’s 2016 budget, praising the spending plan for a key property tax increase but warning of unresolved challenges and one-shot revenue boosts.

Chicago’s motor fuel tax bonds became the latest victim of Illinois’ budget stalemate Wednesday when S&P dropped the debt six notches, to BBB-plus.

House consideration of Senate’s six-year transportation bill could avoid a nationwide rail shutdown, said Sen. Barbara Boxer, D-Calif.

Flint, Mich. will reconnect with Detroit’s water and sewer system after a year of struggling with polluted water from the Flint River.

As South Carolina recovers from severe storms and floods, state and local governments are positioned financially to weather the aftermath with minimal credit impact, said Moody's Investors Service.

Sacramento County’s slow progress in building up its reserves could spell trouble for California’s most bond-indebted county.

The Treasury Department Thursday auctioned $13 billion of 29-year 10-month bonds with a 2 7/8% coupon at a 2.914% high yield, a price of 99.221618.

The best monetary policy to spur the economy would be “reducing the target range for the fed funds rate, not increasing it,” and certainly not increasing the target this year or next, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Thursday.

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

With Pennsylvania’s budget stalemate about to its 100th day, Democratic Gov. Tom Wolf and Republican lawmakers are still far apart.

The Treasury Department said it will auction $10 billion year bills on Oct. 14.

The Treasury Department said Thursday it will auction $20 billion 91-day bills and $20 billion 182-day discount bills Tuesday.

Resident Commissioner Pedro Pierluisi, D-P.R., has introduced a bill that would authorize the Treasury Department to guarantee future bonds issued by Puerto Rico and its authorities if it finds they have meaningfully improved the management of their finances.

Prices of top quality municipal bonds were slightly weaker Thursday morning, as yields on some maturities were as much as one basis point higher.

Some municipal bond strategists are adding risk to boost fourth-quarter yields following the Federal Reserve Board’s decision on Sept. 17 to keep rates unchanged, while other are playing a more defensive game.

Indicator Last Report Forecast Actual Initial Claims 9/26: 276,000 10/3: 272,000 10/3: 263,000 Continuing Claims 9/19: 2.195M 9/26: 2.210M 9/26: 2.204M

Oct. 8, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.23 1.28 2.09 3.16 Florida Aa1/AAA/AAA 0.25 1.31 2.15 3.19 Georgia Aaa/AAA/AAA 0.23 1.23 2.01 3.05 Kentucky Aa2/AA+/AA+ 0.27 1.37 2.21 3.28 Louisiana Aa2/AA/AA 0.36 1.58 2.46 3.54 Mississippi Aa2/AA/AA+ 0.27 1.36 2.28 3.31 North Carolina Aaa/AAA/AAA 0.23 1.23 2.01 3.06 South Carolina Aaa/AA+/AAA 0.23 1.25 2.04 3.09 Tennessee Aaa/AA+/AAA 0.23 1.24 2.04 3.08 Virginia Aaa/AAA/AAA 0.22 1.22 2 3.05 West Virginia Aa1/AA/AA+ 0.26 1.29 2.14 3.21