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Prices of top-quality municipal bonds finished the week stronger, according to traders, as yields on longer-dated bonds fell by as much as three basis points on Friday. The market was busy digesting the weeks chunky new issues even as they turn their eyes to the upcoming supply calendar.
January 23
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The Chicago region needs $16.6 billion over the next decade for routine transit maintenance and capital spending with another $19.5 billion tacked on to the tab to cover deferred investment, the Regional Transportation Authority warned.
January 23 - Illinois
Illinois Gov. Bruce Rauner has imported three outsiders all with government experience to lead a "turnaround team" that includes the new position of chief financial officer to be filled by consultant Donna Arduin. He also named former Hawaii Gov. Linda Lingle and former Georgia COO Trey Childress to his team.
January 23
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A congressional bipartisan duo filed a bill to capitalize a $50 billion infrastructure bank with 50-year taxable bonds bearing 1% interest.
January 23
- Puerto Rico
Puerto Rico's government is getting feedback on a major tax reform that it is currently working on to improve the island's economy.
January 23 - Kentucky
Assured Guaranty will provide Kentucky's Paducah Power System with surety bonds to free up some debt service reserves at the cash-strapped utility, according to PPS officials.
January 23
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Moody's Investors Service raised the Harris County Houston Sports Authority's subordinate debt to investment grade after settlement of a lawsuit with its bond insurer and financial restructuring.
January 23
- Indiana
An Indiana state representative's bill would only allow issuers to propose borrowing and tax levy questions during general elections in order to boost voter participation.
January 23
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Municipal bond prices reversed course on Friday and looked stronger at mid-session, according to traders, after ending lower on Thursday. Yields of top-quality munis were off as much as four basis points on the longer-dated maturities.
January 23 -
The arrival of an emergency manager in Atlantic City, N.J. triggered a six-notch downgrade by Moody's Investors Service Friday, drawing criticism from the city's top financial official.
January 23
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Leadership chaos in Albany following the arrest of Assembly Speaker Sheldon Silver on federal corruption charges could further complicate an already difficult task for New York MTA: obtaining approval of its $32 billion capital plan.
January 23
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The composite index of Leading Economic Indicators was up 0.5% in December following a revised 0.4% rise in November, first reported as a 0.6% climb, the Conference Board reported Friday.
January 23 -
Existing home sales grew 2.4% to a seasonally adjusted 5.04 million-unit rate in November from a revised 4.92 million pace the previous month, the National Association of Realtors announced Friday.
January 23 -
The municipal bond market is quiet, still absorbing well over $7 billion in new issuance, most of which came on one day Wednesday. The market will be back to a full trading week next week, after the Martin Luther King Jr. holiday.
January 23 -
The Chicago Fed National Activity Index for December plunged to negative 0.05 from a revised 0.92 reading in November, while the three-month moving average (CFNAI-MA3) slipped to 0.39 from a revised 0.54 in November, the Federal Reserve Bank of Chicago reported Friday.
January 23 -
Standard & Poor's Ratings Services said it raised its rating on Atlanta's outstanding water and wastewater revenue bonds to AA-minus from A-plus.
January 23 -
Jan. 23, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.14 0.99 1.85 2.64 California Aa3/A/A 0.16 1.05 1.99 2.87 Hawaii Aa2/AA/AA 0.15 1.06 1.99 2.77 Idaho Aa1/AA+/AA+ 0.14 1.08 1.98 2.78 Montana Aa1/AA/AA+ 0.14 1.07 1.99 2.8 Nevada Aa2/AA/AA+ 0.17 1.11 2.03 2.84 Oregon Aa1/AA+/AA+ 0.14 1.02 1.89 2.72 Washington Aa1/AA+/AA+ 0.14 1.06 2.02 2.89 Wyoming NR/AAA/NR 0.14 1.06 1.9 2.69
January 23 -
1/22/2015 1/15/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 0 0 0 0 California 11 927,455 10 893,470 33,985 Hawaii 1 178,535 0 0 178,535 Idaho 1 4,715 0 0 4,715 Montana 0 0 0 0 0 Nevada 2 68,380 0 0 68,380 Oregon 0 0 2 429,960 ?429,960 Washington 9 1,006,005 11 1,551,255 ?545,250 Wyoming 0 0 0 0 0
January 23 - Competitive Note Sales
Friday, January 23 Issuer St Description Amount
January 23 -
Monday, January 26 Issuer St Description Amount
January 23
