News and Information from Bond Buyer

Friday, August 21 Issuer St Description Amount

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Municipal bond funds saw inflows in the latest week, according to Lipper data released on Thursday. Funds which report weekly saw $43.656 million of inflows in the week ended Aug. 19, after seeing inflows of $11.087 million in the previous week, Lipper reported.

The National Association of Bond Lawyers released a paper Thursday giving its members tools to help issuer clients develop written disclosure policies and procedures in response to recent Securities and Exchange Commission cases against issuers.

Government

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was three basis points higher to 4.40% for the week ended Aug. 20 from 4.37% in the previous week.

Multiple factors are pressuring Puerto Rico's nonprofit universities and hospitals, Standard & Poor's said Thursday.

Prices of top-rated municipal bonds finished substantially stronger on Thursday, traders said, with yields on some maturities weakening by as much as six basis points. Meanwhile, the timing of the Puerto Rico Aqueduct and Sewer Authority's $750 million bond deal remained in doubt.

Detroit's finance director had no complaints Thursday about the steep premium the city paid to access the municipal market for the first time since exiting Chapter 9.

Florida's economists predict the state will rake in record revenues in fiscal 2016 and 2017, although state officials should also expect expenses to increase, a budget watchdog group warns.

A high-profile San Francisco Bay Area business advocate, the Bay Area Council's Jim Wunderman, says a sales tax should be used to help meet California's massive unfunded transportation needs.

Senate's multiyear transportation funding bill loosens restrictions on tolling of existing lanes of interstate highways.

Indicator Last Report Forecast Actual CPI June: +0.3% July: +0.2% July: +0.1% CPI Core June: +0.2% July: +0.2% July: +0.1%

Far West issuers sold $48.3 billion of municipal bonds in the first half of 2015, a 70% increase from the first six months of 2014 that was driven by refundings.

The Treasury Department Thursday auctioned $16 billion of four-year eight-month inflation-indexed notes with a 0.125% coupon, a 0.305% high yield, an adjusted price of 101.0506816

Illinois Gov. Bruce Rauner signed legislation Thursday that allows the Metropolitan Pier and Exposition Authority to make its debt payments even without a state budget in place.

Prices of top-rated municipal bonds were substantially stronger at mid-session, traders said, with yields on some maturities weakening by as much as five basis points.

A city's authority can have additional time to spend proceeds of its new clean renewable energy bonds after unanticipated events caused a "significant delay" in the proceeds being committed and spent, the Internal Revenue Service has ruled.

The Treasury Department said it will auction $13 billion one-year 11-month floating rate notes on Wednesday, Aug. 26.