News and Information from Bond Buyer

The Senate Environment and Public Works Committee adopted a six-year highway bill with a 4.6% boost in federal funding.

Scranton disregarded pension laws in its payment of double benefits to 35 employees over the last 12 years at a cost of $2.9 million, said Pennsylvania Auditor General Eugene DePasquale.

Further delays in obtaining a five-year capital plan could mean even more delays for the East Side Access project to bring the Long Island Rail Road to Grand Central, said New York MTA Chairman Thomas Prendergast.

Modern transportation infrastructure is a critical building block to ensure that the US economy is in a position for long term growth and prosperity.

The Treasury Department auctioned $35 billion of five-year notes, with a 1 5/8% coupon, a 1.710% high yield, a price of 99.594321.

Prices of top-quality municipal bonds were mixed at mid-session, traders said, as yields on some maturities were steady to up by as much as one basis point.

Lumesis introduced a new product available on Ipreo’s platform to help municipal bond underwriters navigate the new regulatory landscape.

The Treasury Department Thursday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.076%, at a 0.074% spread, a price of 99.996258.

The GDB’s leadership gained immunity from lawsuits Tuesday but learned Wednesday that it was losing its chairman of the board, David Chafey.

New York State could save billions on public infrastructure projects by authorizing design-build procurement practices widely used across the country, a Rudin Center report says.

Oxford University professor Brent Flyvbjerg has concluded that about 90% of megaprojects do not meet expectations of costs or benefits, a phenomenon he describes as the “megaproject paradox.” His research has lessons for municipal investors.

Total net tax-supported debt fell for the first time in 28 years in 2014, a Moody’s report found.

The municipal bond market will see the $1.4 billion tax and revenue anticipation note sale from the city of Los Angles come to market on Wednesday along with the institutional pricing of the $937 million Massachusetts offering.

Wednesday, June 24 Issuer St Description Amount

Wednesday, June 24 Issuer St Description Amount

Week Of June 22 Issuer St Description Amount

Week Of June 22 Issuer St Description Amount

Indicator Last Report Forecast Actual Durable Goods April: -1.0% May: -0.5% May: -1.8% Durable Goods ex Trans April: -0.2% May: +0.6% May: +0.5% New Home Sales April: 517,000 May: 525,000 May: 546,000 Philly Fed Non-Manf May: 54.5 June: na June: 27.0 Richmond Fed Mfg May: 1 June: na June: 6 Richmond Fed Svcs Rev May: 13 June: na June: 19

Jun. 24, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 1.54 3.28 4.14 5.03 Indiana Aaa/AAA/AA+ 0.29 1.52 2.41 3.4 Iowa Aaa/AAA/AAA 0.29 1.53 2.41 3.4 Michigan Aa2/AA/AA 0.35 1.63 2.57 3.58 Minnesota Aa1/AA+/AA+ 0.3 1.52 2.35 3.31 Missouri Aaa/AAA/AAA 0.29 1.47 2.32 3.31 Nebraska NR/AAA/NR 0.29 1.54 2.46 3.48 North Dakota Aa1/AA+/NR 0.32 1.59 2.49 3.48 Ohio Aa1/AA+/AA+ 0.32 1.57 2.47 3.48 South Dakota NR/AA+/AA+ 0.33 1.58 2.49 3.5 Wisconsin Aa2/AA/AA 0.32 1.54 2.47 3.48