News and Information from Bond Buyer

Senate Finance Committee Chairman Orrin Hatch said Tuesday that tax reform his top priority and that he is aiming for bipartisan tax-reform legislation to be introduced and voted on in the committee later this year. The state treasurers are urging him to preserve the tax exemption for muni bonds.

The municipal market returned to work on Tuesday as the recent rally in municipal bond prices stalled out a bit. Prices of the highest-rated municipal bond prices were mostly unchanged at mid-session, traders said. Trading resumed after the Martin Luther King, Jr., holiday on Monday.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.025% high rate, unchanged from 0.025% the prior week, and the six-months incurred a 0.075% high rate, off from 0.085% the week before.

The Treasury Department said Tuesday it will sell $30 billion of four-week discount bills Wednesday.

Issuance could total $325 billion to $375 billion in 2015, Janney bond analyst Tom Kozlik told a Philadelphia investor group.

The region's non-manufacturing sector declined in January, as the general business conditions index dropped to 8.8 from 32.5 in December, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Builders' confidence in the market for new single-family homes slid as the National Association of Home Builders' housing market index slipped to 57 in January from a revised 58 in December

Oppenheimer Funds is looking over a judge's dismissal of its challenge to Rhode Island's plan to sell nearly $600 million in tobacco-settlement bonds.

Tuesday, January 20 Issuer St Description Amount

Tuesday, January 20 Issuer St Description Amount

Week Of January 20 Issuer St Description Amount

Jan. 20, 2015 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.19 1.21 2.05 2.84 Arkansas Aa1/AA/NR 0.14 1.09 1.84 2.61 Colorado Aa1/AA/NR 0.15 1.11 1.91 2.73 Kansas Aa1/AA+/NR 0.14 1.14 1.92 2.7 New Mexico Aaa/AA+/NR 0.14 1.11 1.88 2.67 Oklahoma Aa2/AA+/AA+ 0.15 1.16 1.95 2.74 Texas Aaa/AAA/AAA 0.14 1.08 1.85 2.62 Utah Aaa/AAA/AAA 0.14 1.05 1.75 2.52

ALABAMA

1/19/2015 1/12/2015 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 3 $191,475 2 $42,250 $149,225 Arkansas 3 54,830 2 138,255 -83,425 Colorado 2 23,935 4 223,600 -199,665 Kansas 3 30,050 3 33,740 -3,690 New Mexico 0 0 0 0 0 Oklahoma 3 74,450 9 191,155 -116,705 Texas 43 2,581,640 34 475,815 2,105,825 Utah 4 65,445 0 0 65,445

Day Indicator Last Report Forecast Tuesday NAHB Housing Index Dec.: 57 Jan.: 58 Tuesday Philly Fed Non-Manufacturing Dec.: 32.5 Jan.: n/a Wednesday Housing Starts Nov.: 1.028M Dec.: 1.040M Wednesday Building Permits Nov.: 1.035M Dec.: 1.058M Thursday Initial Jobless Claims 1/10: 316,000 1/17: 300,000 Thursday Continuing Claims 1/3: 2.424M 1/10: 2.410M Friday Existing Home Sales Nov.: 4.930M Dec.: 5.060M Friday Leading Indicators Nov.: +0.6% Dec.: +0.4%

Government

The Government Development Bank for Puerto Rico's liquidity level declined by nearly 30% in December.

Moody's Investors Service revised its outlook from stable to positive on the Beverly Hills-based Cedars-Sinai Medical Center's long-term revenue bonds. It affirmed its A1 rating

Edina, Minnesota voters will decide the school district's request for $125 million in borrowing authorization when they vote on May 5 ballot.