News and Information from Bond Buyer

Next summer is a "reasonable guess" for when the Federal Reserve will make its first rate hike, Federal Reserve Bank of San Francisco president and chief executive officer John Williams said in a televised interview Thursday.

Standard & Poor's Ratings Services said it lowered its long-term rating to AA-minus from AA on Berks County Municipal Authority, Pa.'s revenue refunding bonds, issued for Reading Health System.

The Treasury Department said it will auction $29 billion seven-year notes on Thursday, Aug. 28.

The Treasury Department said Thursday it will auction $29 billion 92-day bills and $24 billion 182-day discount bills Monday.

The Treasury Department said it will auction $13 billion one-year 11-month 0.070% floating rate notes on Wednesday, Aug. 27.

This fall, Oregon voters will decide whether to approve a constitutional amendment that would allow the state to start an endowment fund for student aid using general obligation bond proceeds.

The region's manufacturing sector expanded at a faster pace in August, as the general business conditions index climbed to 28.0 from 23.9 in July, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The composite index of Leading Economic Indicators was up 0.9% in July following a revised 0.6% increase in June, first reported as a 0.3% climb, the Conference Board reported Thursday.

Existing home sales rose 2.4% to a seasonally adjusted 5.15 million-unit rate in July from a revised 5.03 million pace the previous month, the National Association of Realtors announced Thursday.

The Lutheran Village at Miller's Grant continuing care retirement community (CCRC) project will give traders a chance to catch yield this week, if buyers are able to overlook the sector's sordid past.

A web site that allows interested parties to watch Detroit water and sewer muni bond tenders in near-real time is being used for the first time in the municipal bond market.

Thursday, August 21 Issuer St Description Amount

Thursday, August 21 Issuer St Description Amount

Week Of August 18 Issuer St Description Amount

Aug. 21, 2014 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.11 1.12 2.2 3.25 Florida Aa1/AAA/AAA 0.11 1.17 2.24 3.31 Georgia Aaa/AAA/AAA 0.11 1.12 2.12 3.13 Kentucky Aa2/AA+/AA 0.13 1.22 2.32 3.36 Louisiana Aa2/AA/AA 0.12 1.2 2.28 3.3 Mississippi Aa2/AA/AA+ 0.13 1.21 2.3 3.32 North Carolina Aaa/AAA/AAA 0.11 1.12 2.11 3.12 South Carolina Aaa/AA+/AAA 0.11 1.13 2.15 3.16 Tennessee Aaa/AA+/AAA 0.11 1.12 2.15 3.15 Virginia Aaa/AAA/AAA 0.11 1.11 2.1 3.11 West Virginia Aa1/AA/AA 0.12 1.21 2.3 3.34

8/20/2014 8/13/2014 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 0 $0 3 $70,990 -$70,990 Florida 8 726,420 8 373,765 352,655 Georgia 3 30,365 2 24,260 6,105 Kentucky 5 36,410 7 103,420 -67,010 Louisiana 2 154,875 0 0 154,875 Mississippi 0 0 1 1,670 -1,670 North Carolina 2 121,785 3 447,540 -325,755 South Carolina 1 11,000 1 15,675 -4,675 Tennessee 6 122,465 6 152,500 -30,035 Virginia 3 479,690 6 613,065 -133,375 West Virginia 0 0 1 19,115 -19,115

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Government

Even as the city struggles to find funds to repair its own streets, Pocatello, Idaho street repair crews have been doing work in other Southeastern Idaho cities for free.