News and Information from Bond Buyer

Day Indicator Last Report Forecast Wednesday Retail Sales June: +0.2% July: +0.3% Wednesday ex-Autos June: +0.4% July: +0.4% Wednesday Business Inventories May: +0.5% June: +0.4% Thursday Initial Claims 8/2: 289,000 8/9: 295,000 Thursday Continuing Claims 7/26: 2.518M 8/2: 2.500M Friday Empire State Manufacturing July: 25.60 Aug.: 20.00 Friday PPI June: +0.4% July: +0.1% Friday PPI Core June: +0.1% July: +0.2% Friday Industrial Production June: +0.2% July: +0.3% Friday Capacity Utilization June: 79.1 July: 79.2 Friday U. of Mich. Sentiment July: 81.8 Aug.: 82.5 Friday U. of Mich. Current July: 97.4 Aug.: 97.8 Friday U. of Mich. Expectations July: 71.8 Aug.: 73.0

Large deals in New York and New Jersey -- led by New York City's $900 million general obligation bond refunding -- are expected to spark high demand this week due to their specialty state status despite an otherwise lackluster primary market dulled by the seasonal summer pullback in issuance.

Government

The Puerto Rico Electric Power Authority moved a step closer Thursday to opening an important natural gas port that would lower its operating costs.

Illinois will host a forum next month to meet with developers, air carriers and potential tenants as the state seeks to advance plans for a public private partnership to develop the South Suburban Airport.

The Internal Revenue Service's tax-exempt bond office has had several key personnel changes in recent weeks.

Puerto Rico's net revenue was 6.3% ahead of projections in July.

Revenues of $992 million surpassed those of any previous July, rising 7.4% over the same month last year, state Treasurer Ken Miller said.

A lawsuit challenging the Securities and Exchange Commission's pay-to-play rules could have implications for the Municipal Securities Rulemaking Board's effort to write such rules for muni advisers, as well an existing rule for dealers.

The market may be sympathetic to Oppenheimer's complaint, but it remains unsure how much legal backing the Rochester funds actually have.

Minnesota will take bids Tuesday on $904 million of general obligation bonds in a sale bolstered by a refunding piece and decision to skip its customary second annual new money issue.

Detroit launched a tender offer program for holders of $5.2 billion of water and sewer bonds Thursday night, offering tender prices that range from a high of 118 cents on the dollar to a low of 72.5 cents on the dollar as it aims for a massive refinancing that will end a months-long battle with water and sewer bondholders.

Seven current and former Georgia lawmakers filed a lawsuit against Fulton County commissioners after they increased the property tax rate by 17.45%.

Florida forecasters say final general revenue estimates for 2014 were off by $106.7 million but current year estimates for a $1 billion increase are on track.

Scranton's 0.75% commuter tax to help fund the city's wobbly pension plans is a credit positive for the Pennsylvania city, said Moody's.

Northeast bond issuance was stronger in the first half of 2014 than it was in the United States.

As his term winds down, Massachusetts Treasurer Steve Grossman cites enhanced disclosure, innovation and an improved bond rating.

The municipal market rallied for its third day on Friday with yields falling across the curve.

The Internal Revenue Service has told the Philadelphia Authority for Industrial Development that it is auditing bonds the authority issued in 2005 for a charter school project in Philadelphia “because of information we received from external sources or developed internally that causes a concern” that there are tax-law violations.