News and Information from Bond Buyer

Municipal bond funds have reported outflows for 11 straight weeks, as investor confidence gave way to concerns over the credit of such issuers such as Puerto Rico and Chicago and the probability of rising interest rates.

June tax revenue in New York was stronger than expected, State Comptroller Thomas DiNapoli reported.

City Comptroller Scott Stringer asked the New York City Council to delay its vote on restricting the number of cars that tech-driven ride service Uber can put on the streets.

Indicator Last Report Forecast Actual Existing Home Sales May: 5.32M June: 5.40M June: 5.49M

Existing home sales grew 3.2% to a seasonally adjusted 5.49 million-unit rate in June from a downwardly revised 5.32 million pace the previous month, the National Association of Realtors announced Wednesday.

A federal appellate panel tossed five of 18 corruption-related counts that landed former Illinois Gov. Rod Blagojevich a 14-year sentence in 2011.

The outlook for Pennsylvania's most financially troubled school districts will remain bleak, according to Moody's.

Municipal bond market traders will be awaiting the second wave of new supply on Wednesday, as large deals from New York, Florida and Hawaii and are slated to come to market.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating on Bastrop County, Texas' general obligation debt to AA from AA-minus.

The Municipal Securities Rulemaking Board, at its meeting next week, plans to discuss draft guidance on its best execution rule, its proposal to require dealers to provide pricing information to customers, and the reaction to its bid to ease standards for the public investor representative on its board.

ARKANSAS

ARKANSAS

Jul. 22, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 1.53 3.1 4.16 5 Indiana Aaa/AAA/AA+ 0.28 1.36 2.41 3.37 Iowa Aaa/AAA/AAA 0.28 1.37 2.41 3.37 Michigan Aa2/AA/AA 0.34 1.47 2.57 3.55 Minnesota Aa1/AA+/AA+ 0.29 1.33 2.34 3.26 Missouri Aaa/AAA/AAA 0.28 1.31 2.32 3.28 Nebraska NR/AAA/NR 0.28 1.38 2.46 3.45 North Dakota Aa1/AA+/NR 0.31 1.43 2.49 3.45 Ohio Aa1/AA+/AA+ 0.3 1.37 2.47 3.45 South Dakota NR/AA+/AA+ 0.32 1.42 2.49 3.47 Wisconsin Aa2/AA/AA 0.31 1.38 2.46 3.45

7/21/2015 7/14/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 8 $110,465 5 $1,141,875 -1,031,410 Indiana 5 110,860 6 42,275 68,585 Iowa 4 55,295 4 9,935 45,360 Michigan 7 1,078,620 15 228,470 850,150 Minnesota 21 87,525 28 297,591 -210,066 Missouri 5 47,790 6 77,335 -29,545 Nebraska 1 7,500 0 0 7,500 North Dakota 3 42,885 0 0 42,885 Ohio 11 244,000 9 146,690 97,310 South Dakota 0 0 0 0 0 Wisconsin 19 90,670 18 136,435 -45,765

Wednesday, July 22 Issuer St Description Amount

Wednesday, July 22 Issuer St Description Amount

Week Of July 20 Issuer St Description Amount

Government

The Puerto Rico Electric Power Authority board of directors announced Tuesday it named Javier Quintana Mendez the authority’s new executive director.

House Assistant Democratic Leader Jim Clyburn, D-S.C., told congressional staff members Tuesday that everything should be on the table for a comprehensive tax-reform bill, while municipal bond market participants and lawmakers defended the tax exemption for munis.