News and Information from Bond Buyer

Municipal bond volume continued to surge in March, driving first-quarter volume to a five year high, as issuers look to take advantage of low interest costs while they still can.

Airport capital spending will rise over next five years to meet growing passenger demand, Moody's says.

Municipal market observers aren’t impressed by the Chicago Public Schools’ move to drop Moody’s Investors Service in favor of an agency that assigned a higher rating.

Despite an $11.5 billion backlog of maintenance at national parks across the country, the National Park Service continues to take on new properties in New Mexico and other states.

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

Standard & Poor's Ratings Services said it has raised its rating to AA-minus from A-plus on West View Borough, Pa.'s general obligation bonds.

Moody’s Investors Service downgraded the Chicago-area Forest Park Park District two notches to Baa1, assigning a negative outlook.

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.260% high yield, a price of 99.737111.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.050% high yield, a price of 99.996111.

Texas service sector activity "continued to reflect expansion in March," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index slid to 10.7 from 13.6.

Indicator Last Report Forecast Actual Chicago PMI Feb.: 45.8 Mar.: 51.5 Mar.: 46.3 Consumer Confidence Feb.: 98.8 Mar.: 96.0 Mar.: 101.3

The consumer confidence index grew to 101.3 in March from a revised 98.8 last month, The Conference Board reported Tuesday.

The Chicago Purchasing Managers' Business Barometer climbed to 46.3 in March from 45.8 in February, the National Association of Purchasing Management-Chicago said Tuesday.

The municipal bond market on Tuesday is awaiting the institutional pricing of the New York City Municipal Water Finance Authority deal along with competitive sales from issuers in Utah, Florida and Washington state.

The Puerto Rico Electric Power Authority and its creditors have agreed to extend their previous forbearance agreement another 15 days, PREPA announced late Monday.

The seasonally adjusted Milwaukee Report on Business increased to 53.3 in March from 50.3 in February, the Institute for Supply Management-Milwaukee reported Tuesday.

The Midwest Economy Index held at 0.49 in February, the Federal Reserve Bank of Chicago said Friday.

A coalition of reformers charged with making recommendations to Gov. Rick Snyder to overhaul the troubled Detroit school district wants the state to take over the district's general fund debt payments, which total $53 million a year.

Mar. 31, 2015 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.24 1.4 2.26 3.12 Arkansas Aa1/AA/NR 0.19 1.28 2.05 2.9 Colorado Aa1/AA/NR 0.21 1.35 2.14 3.02 Kansas Aa1/AA+/NR 0.19 1.33 2.13 2.98 New Mexico Aaa/AA+/NR 0.19 1.3 2.05 2.91 Oklahoma Aa2/AA+/AA+ 0.22 1.36 2.16 3.02 Texas Aaa/AAA/AAA 0.2 1.29 2.07 2.94 Utah Aaa/AAA/AAA 0.19 1.24 1.96 2.8

3/30/2015 3/23/2015 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 7 $280,245 4 $138,830 $141,415 Arkansas 2 3,670 1 16,840 -13,170 Colorado 0 0 2 48,555 -48,555 Kansas 8 557,855 9 449,235 108,620 New Mexico 0 0 1 12,500 -12,500 Oklahoma 17 26,970 21 103,965 -76,995 Texas 36 831,129 52 1,725,022 -893,893 Utah 3 259,835 6 325,210 -65,375