News and Information from Bond Buyer

Daily Economic indicators box Indicator Last Report Forecast Actual Existing Home Sales Aug.: 5.050M Sept.: 5.100M Sept.: 5.170M

Wednesday, October 22 Issuer St Description Amount

Wednesday, October 22 Issuer St Description Amount

Week Of October 20 Issuer St Description Amount

Week Of October 20 Issuer St Description Amount

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ARKANSAS

Timothy East became the second Harrisburg, Pa., treasurer to resign in two months, a city official confirmed late Tuesday.

Government

Three House members are pushing bank regulators to amend their liquidity rule to include investment grade municipal securities as high-quality liquid assets.

Pittsburgh stands to realize $3.2 million, or 5%, of present-value savings from its expected $63.3 million refunding scheduled for Oct. 22, according to city finance director Paul Leger.

Chicago City Treasurer and former public finance banker Stephanie Neely is stepping down from the elected post to return to the private sector.

John Cross will leave as director of the SEC's Office of Municipal Securities next month to succeed Vicky Tsilas as the Treasury Department's associate tax legislative counsel, according to the SEC and sources. Tsilas is rejoining Ballard Spahr in January.

Jumping municipal bond yields on Tuesday helped the performance of lower rated deals in the primary market, while hurting some of the triple-A rated sales, market participants said.

More details on Detroit's crucial settlement with bond insurer Financial Guaranty Insurance Co. emerged Tuesday, while testimony on the feasibility of the city's bankruptcy exit plan is expected to come Wednesday, the final day of the historic trial.

Market participants are concerned that language in the Securities and Exchange Commission's proposal to remove references to credit ratings from its Rule 2a-7 governing money market funds could be too restrictive on what securities MMFs could purchase.

Orrick Herrington & Sutcliffe LLP and Hawkins Delafield & Wood LLP maintained their positions atop bond counsel rankings as muni volume sank in the first nine months of the year, while former No. 3 Squire Patton Boggs, fell out of the top 10.

Sanjeev "Sonny" Bhagowalia, the Hawaii governor's chief advisor on Technology and Cyber Security, was named deputy assistant secretary and chief information officer for the U.S. Department of Treasury.

The Massachusetts Development Finance Agency issued a $4.1 million tax-exempt bond on behalf of Cerebral Palsy of Massachusetts.

Moody's Investors Service dropped its rating on Detroit's $1.5 billion of certificates of participation to C from Ca, saying proposed settlements with insurers mean recoveries well below the Ca category.