News and Information from Bond Buyer

Senate wrangling is next after Pennsylvania's House passed a $29.1 billion budget for fiscal 2015.

Structural shifts in the labor markets can't be remedied by monetary policy, Federal Reserve Bank of Richmond President Jeffrey M. Lacker said Thursday, and he added he believes that describes the current situation.

Initial jobless claims slipped 2,000 to 312,000 in the week ended June 21, the Labor Department said Thursday.

Indicator Last Report Forecast Actual Durable Goods April: +0.8% May: +0.1% May: -1.0% Durable Goods ex-trans April: +0.4% May: +0.3% May: -0.1% GDP Q4: +2.6% Q1: -1.6% Q1: -2.9% GDP Final Sales Q4: +2.7% Q1: +0.5% Q1: -1.3%

Jun. 26, 2014 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.11 1.3 2.48 3.54 Florida Aa1/AAA/AAA 0.11 1.32 2.42 3.55 Georgia Aaa/AAA/AAA 0.11 1.26 2.31 3.36 Kentucky Aa2/AA+/AA 0.13 1.39 2.54 3.6 Louisiana Aa2/AA/AA 0.12 1.36 2.49 3.55 Mississippi Aa2/AA/AA+ 0.13 1.36 2.52 3.57 North Carolina Aaa/AAA/AAA 0.11 1.26 2.31 3.36 South Carolina Aaa/AA+/AAA 0.11 1.27 2.34 3.39 Tennessee Aaa/AA+/AAA 0.11 1.27 2.36 3.41 Virginia Aaa/AAA/AAA 0.11 1.25 2.29 3.34 West Virginia Aa1/AA/AA 0.12 1.37 2.52 3.58

6/25/2014 6/18/2014 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 2 $563,950 0 $0 $563,950 Florida 6 451,995 4 264,220 187,775 Georgia 5 135,760 2 24,260 111,500 Kentucky 8 153,300 4 63,570 89,730 Louisiana 1 9,230 7 314,740 -305,510 Mississippi 0 0 2 5,700 -5,700 North Carolina 0 0 0 0 0 South Carolina 1 29,430 4 89,235 -59,805 Tennessee 0 0 2 28,265 -28,265 Virginia 4 77,270 0 0 77,270 West Virginia 0 0 1 44,435 -44,435

Thursday, June 26 Issuer St Description Amount

Thursday, June 26 Issuer St Description Amount

Week Of June 23 Issuer St Description Amount

Week Of June 23 Issuer St Description Amount

ILLINOIS

ARKANSAS

Dallas City Council has approved $46.5 million in tax increment financing for redevelopment of the vacant Statler Hilton hotel that once hosted the city's elite visitors.

For the first time in many years, the Sewerage and Water Board of New Orleans returned to the bond market to issue $262.5 million of combined refunding and revenue bonds.

Puerto Rico Electric Power Authority bond yields soared in the secondary market Wednesday after Governor Alejandro Garcia Padilla proposed legislation that would enable some public corporations to restructure debt.

Government

Missouri Gov. Jay Nixon slashed $800 million in spending in the fiscal 2015 budget warning the cuts were needed to keep the budget balanced due to the threat that lawmakers might restore a series of vetoed tax breaks.

Investors were not reluctant to buy the Detroit name when the Michigan Finance Authority priced $185 million of bonds for the Detroit Public Lighting Authority Wednesday.

Florida expects to defease $675.9 million of bonds that paid for hurricane losses around July 11, according to a market notice.

As Detroit has shown, the Chapter 9 world and the municipal bond finance world often just don't speak the same language, according to Nixon Peabody LLP attorneys.