News and Information from Bond Buyer

Detroit Mayor Mike Duggan said in his state of the city address Wednesday night that the city is on the road to recovery and that he’s focused on growing population to ensure long-term survival.

Gov. Tom Wolf proposed a severance tax on Marcellus Shale natural gas extraction to fund Pennsylvania's teetering public education system.

The Treasury Department auctioned $24 billion of 10-year notes with a 2% coupon at a 2.000% high yield, a price of 99.999892.

Standard & Poor's Ratings Services said it lowered its underlying rating for credit programs to A-minus from A-plus on Atlantic City Board of Education, N.J.'s existing general obligation bonds and placed it on CreditWatch with negative implications.

Prices of top-shelf municipal bonds were lower at mid-session, traders said, as yields on some maturities were up by as much as two basis points.

Puerto Rico’s legislature has voted to remove the limits on the discount for the planned oil tax bond.

A recent appellate court ruling could lead to increased financial pressure for California cities that transfer revenue from electricity utilities to general operating funds, Fitch Ratings says.

Standard & Poor's Ratings Services said it raised its rating on West Shore Area Authority, Pa.'s series 2011B revenue bonds issued for Holy Spirit Hospital to AA from A.

Labor market conditions improved slightly as the Kansas City Fed Labor Market Conditions Indicators (LMCI) narrowed to negative 0.33 in November from a revised negative 0.42 in December, first reported as negative 0.47, according to the Bank.

Moody's Investors Service reported more upgrades than downgrades by number and par value in the fourth quarter, marking "economic and financial stabilization" in public finance.

Municipal bond traders will be keeping both eyes wide open on Wednesday - with one eye on new issue supply and the one on rising bond yields.

The Federal Reserve should raise interest rates despite low inflation, realizing the drop in oil prices is keeping headline inflation low, Federal Reserve Bank of Dallas President Richard Fisher said Wednesday.

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Wednesday, February 11 Issuer St Description Amount

Wednesday, February 11 Issuer St Description Amount

Week Of February 9 Issuer St Description Amount

Week Of February 9 Issuer St Description Amount

The cost of complying with the Securities and Exchange Commission's MCDC initiative has been "staggering," an industry representative told the The Bond Buyer's Texas Public Finance Conference.

Illinois Capital Markets Director John Sinsheimer will resign this week as the state's debt manager after more than five years in the position, Gov. Bruce Rauner's office said Tuesday.