News and Information from Bond Buyer

Wayne County, Mich. has reached a settlement with a chunk of its retirees that will save the junk-rated government around $20 million a year.

The Treasury Department auctioned $21 billion of 9-year 11-month notes with a 2 1/8% coupon at a 2.461% high yield, a price of 97.057688.

The New Jersey Supreme Court decision that pension contribution levels aren't contractually protected under a 2011 law will accelerate the state's already high growth of pension liabilities, according to Moody's.

This year’s surge in municipal bond new issuance may be starting to slow down, according to a by CUSIP Global Services, which tracks requests for new security identifiers.

Prices of top rated municipal bonds were lower at mid-session, traders said, with yields on some maturities rising by as much as three basis points.

Standard & Poor's Ratings Services said it raised its underlying rating to AA-minus from A-plus on Hubbard County Housing & Redevelopment Authority, Minn.'s series 2008 general obligation housing development revenue bonds, issued for Hubbard County.

Standard & Poor's Ratings Services said it lowered its rating on North Brevard County Hospital District, Fla.'s revenue debt, issued for Parrish Medical Center, one notch to BBB-plus from A-minus.

Former longtime Hempstead Village, N.Y. Mayor James Garner has been tapped as Nassau County's new chief deputy comptroller.

Labor market conditions "continue to improve" as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) narrowed to negative 0.184 in May from negative 0.258 in April, according to the Bank.

Texas Comptroller Glenn Hegar certified a $209.4 billion state budget passed by the Legislature and headed to the desk of Gov. Greg Abbott.

Most payments by the Illinois state government will halt if Gov. Bruce Rauner and the General Assembly’s Democratic majority can’t break a logjam over a new budget.

Municipal bond market participants are girding for the week's second round of new supply with deals set to come to market in both the competitive and negotiated sectors.

Jun. 10, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 1.55 3.33 4.19 5.06 Indiana Aaa/AAA/AA+ 0.3 1.59 2.47 3.43 Iowa Aaa/AAA/AAA 0.3 1.6 2.47 3.43 Michigan Aa2/AA/AA 0.36 1.7 2.63 3.61 Minnesota Aa1/AA+/AA+ 0.31 1.59 2.41 3.34 Missouri Aaa/AAA/AAA 0.3 1.54 2.38 3.34 Nebraska NR/AAA/NR 0.3 1.61 2.52 3.51 North Dakota Aa1/AA+/NR 0.33 1.66 2.55 3.51 Ohio Aa1/AA+/AA+ 0.33 1.65 2.54 3.51 South Dakota NR/AA+/AA+ 0.34 1.65 2.55 3.53 Wisconsin Aa2/AA/AA 0.34 1.64 2.54 3.51

6/9/2015 6/2/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 13 $228,285 9 $203,380 24,905 Indiana 16 158,710 10 129,365 29,345 Iowa 11 47,455 16 133,185 -85,730 Michigan 23 317,140 12 136,705 180,435 Minnesota 32 549,050 34 236,790 312,260 Missouri 5 43,185 2 7,100 36,085 Nebraska 0 0 2 228,905 -228,905 North Dakota 6 98,435 1 9,480 88,955 Ohio 5 279,995 5 392,900 -112,905 South Dakota 0 0 0 0 0 Wisconsin 29 244,515 15 55,365 189,150

Wednesday, June 10 Issuer St Description Amount

Wednesday, June 10 Issuer St Description Amount

Week Of June 8 Issuer St Description Amount

CALIFORNIA

ARKANSAS

Government