News and Information from Bond Buyer

Prices of top-shelf municipal bonds were sharply higher, traders said, as yields on some maturities fell by as much as six basis points as uncertainty over Puerto Rico and Greece fueled a flight to safety buy.

Indicator Last Report Forecast Actual Pending Home Sales April: +2.7% May: +1.2% May: +0.9%

Pending home sales increased 0.9% to an index reading of 112.6 in May, after a revised 2.7% increase to 111.6 in April, according to a report released Monday by the National Association of Realtors.

Prices of Puerto Rico debt fell on Monday after a published report quoted Gov. Alejandro García Padilla as saying the commonwealth cannot pay its $72 billion in debt.

Monday, June 29 Issuer St Description Amount

Click on links to access the Notice of Sale and/or Preliminary Official Statement.

Day Indicator Last Report Forecast Monday Pending Home Sales April: +3.4% May: +1.2% Monday Dallas Fed Texas Mfg May: -20.8 June: -10.0 Tuesday Chicago PMI May: 46.2 June: +50.1 Tuesday Consumer Confidence May: 95.4 June: 97.2 Tuesday Dallas Fed Texas Svcs May: 1.1 June: 2.5 Wednesday Challenger Job Cuts May: 41.034M June: na Wednesday ADP Employment Report May: 201,000 June: 217,000 Wednesday Markit Mfg PMI May: 53.4 June: 53.4 Wednesday Construction Spending April: +2.2% May: +0.6% Wednesday ISM Manufacturing PMI May: 52.8 June: 53.1 Thursday Nonfarm Payrolls May: 280,000 June: 230,000 Thursday Private Payrolls May: 262,000 June: 228,000 Thursday Manufacturing Payrolls May: 7,000 June: 5,000 Thursday Unemployment Rate May: +5.5% June: +5.4% Thursday Avg Hourly Earnings May: +0.3% June: +0.2% Thursday Avg Work Week May: 34.5 June: 34.5 Thursday Initial Claims 6/20: 271,000 6/27: 270,000 Thursday Continuing Claims 6/13: 2.25M 6/20: 2.23M Thursday Factory Orders April: -0.4% May: -0.5% Thursday Nondurable Orders April: +0.2% May: +0.2%

Jun. 29, 2015 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.37 1.74 2.8 3.8 Delaware Aaa/AAA/AAA 0.3 1.41 2.3 3.29 Maine Aa2/AA/AA 0.31 1.51 2.41 3.4 Maryland Aaa/AAA/AAA 0.3 1.45 2.34 3.3 Massachusetts Aa1/AA+/AA+ 0.32 1.51 2.49 3.54 New Hampshire Aa1/AA/AA+ 0.31 1.49 2.41 3.42 New Jersey A1/A/A 0.95 2.33 3.27 4.23 New York Aa1/AA+/AA+ 0.3 1.44 2.37 3.46 Pennsylvania Aa3/AA+/AA+ 0.52 1.91 2.94 3.92 Rhode Island Aa2/AA/AA 0.38 1.67 2.69 3.68 Vermont Aaa/AA+/AAA 0.3 1.44 2.37 3.33 Dist. of Columbia Aa1/AA/AA 0.34 1.53 2.52 3.54 Puerto Rico B2/BB/BB+ 8.05 9.33 9.52 8.05

Week Of June 29 Issuer St Description Amount

Week Of June 29 Issuer St Description Amount

ARKANSAS

CALIFORNIA

6/26/2015 6/19/2015 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 3 $54,650 $3 $237,650 -$183,000 Delaware 1 15,000 0 0 15,000 Maine 1 41,255 0 0 41,255 Maryland 0 0 1 263,250 -263,250 Massachusetts 4 121,071 7 1,126,955 -1,005,884 New Hampshire 0 0 0 0 0 New Jersey 4 31,315 11 76,734 -45,419 New York 7 55,048 11 329,075 -274,027 Pennsylvania 4 91,545 16 671,710 -580,165 Rhode Island 0 0 4 691,790 -691,790 Vermont 0 0 1 168,675 -168,675 District of Columbia 3 350,025 0 0 350,025 Puerto Rico 0 0 0 0 0

Government

The Texas Transportation Commission has approved $239 million for projects covered by Proposition 1, a constitutional amendment passed by voters in 2014.

Dallas Independent School District voters could see up to $1.5 billion of bonds on their November ballot under a plan submitted for consideration June 25.

Missouri budget director Linda Luebbering, who steered the state through recession while helping maintain its triple-A ratings, will retire August 6.

The Puerto Rico Senate approved an automatic spending reduction mechanism to be used when there are revenue shortfalls.

California’s forecast of strong revenue growth is a credit positive for both the state and local governments, according to a Moody’s Investor Service report.

Maryland Gov. Larry Hogan gives preliminary approval to progress on halted $2 billion Purple Line P3 light rail project.