News and Information from Bond Buyer

Voters in California and Texas, the nation's two most populous states, scored notable victories for fiscal responsibility on Election Day by overwhelmingly taking stands against shifting today's obligations onto the backs of future generations.

Standard & Poor's Ratings Services said it raised its ratings on various state of California general obligation (GO) refunding bonds series four notches to AA-plus from A.

New York's MTA unveiled the new Fulton Center complex in lower Manhattan. The $1.4 billion project was conceived after Sept. 11.

The University of Texas System could see savings of 10% on an advance refunding of $250 million of bonds expected to price Nov. 12.

The Conference Board's Employment Trends Index (ETI) gained to 123.09 in October from an upwardly revised 121.91 in September, and is up 7.7% from a year ago, the group announced Monday.

The outcome of Detroit's high-profile bankruptcy highlights the growing tension between pension obligations and bond debt for distressed governments while leaving a lack of legal clarity on the treatment of general obligation bonds.

The Securities Industry and Financial Markets Association's municipal securities division will honor Kenneth D. Gibbs, president of the Municipal Securities Group of Jefferies LLC, with its 2014 Honor Roll Award at a luncheon Tuesday in New York City.

Nov. 10, 2014 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.18 1.32 2.47 3.39 Delaware Aaa/AAA/AAA 0.14 1.15 2.16 3.07 Maine Aa2/AA/AA 0.15 1.19 2.24 3.19 Maryland Aaa/AAA/AAA 0.14 1.15 2.18 3.09 Massachusetts Aa1/AA+/AA+ 0.15 1.24 2.33 3.25 New Hampshire Aa1/AA/AA+ 0.14 1.21 2.3 3.21 New Jersey A1/A/A 0.26 1.55 2.66 3.57 New York Aa1/AA+/AA+ 0.14 1.17 2.25 3.25 Pennsylvania Aa3/AA+/AA+ 0.16 1.37 2.48 3.39 Rhode Island Aa2/AA/AA 0.18 1.32 2.51 3.42 Vermont Aaa/AA+/AAA 0.14 1.2 2.24 3.14 Dist. of Columbia Aa2/AA/AA 0.16 1.26 2.4 3.33 Puerto Rico B2/BB/BB+ 7.79 9.15 9.13 7.54

11/7/2014 10/31/2014 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 0 $0 4 $126,905 -$126,905 Delaware 2 13,765 0 0 13,765 Maine 1 50,000 0 0 50,000 Maryland 0 0 4 966,265 -966,265 Massachusetts 2 10,845 7 312,715 -301,870 New Hampshire 0 0 1 33,500 -33,500 New Jersey 9 106,903 4 57,298 49,605 New York 11 621,783 9 920,331 -298,548 Pennsylvania 5 85,260 10 417,990 -332,730 Rhode Island 3 608,705 1 593,655 15,050 Vermont 0 0 0 0 0 District of Columbia 1 15,000 1 15,000 0 Puerto Rico 0 0 0 0 0

Monday, November 10 Issuer St Description Amount

Monday, November 10 Issuer St Description Amount

Week Of November 10 Issuer St Description Amount

Week Of November 10 Issuer St Description Amount

Day Indicator Last Report Forecast Wednesday Wholesale Inventories Aug.: +0.7% Sept.: +0.2% Wednesday Wholesale Sales Aug.: -0.7% Sept.: +0.1% Thursday Initial Jobless Claims 11/1: 278,000 11/8: 280,000 Thursday Continuing Claims 10/25: 2.348M 11/1: 2.350M Thursday Treasury Budget Sept.: +$105.8B Sept.: -$111.7B Friday Import Prices Sept.: -0.5% Oct.: -1.6% Friday Retail Sales Sept.: -0.3% Oct.: +0.2% Friday ex-Autos Sept.: -0.2% Oct.: +0.2% Friday Michigan Sentiment Oct.: 86.9 Nov.: 87.5 Friday Current Conditions Oct.: 98.3 Nov.: 98.8 Friday Expectations Oct.: 79.6 Nov.: 80.2 Friday Business Inventories Aug.: +0.2% Sept.: +0.2%

INDIANA

ALABAMA

After a two-week climb, volume in the primary market may dip below $6 billion this week as a general obligation offering from Hawaii will lead the limited trading activity.

Government

The bankruptcy judge overseeing Detroit's Chapter 9 case confirmed the city's plan of confirmation Friday, capping the largest municipal bankruptcy case in the U.S. by endorsing a plan that favored pensioners over bondholders