News and Information from Bond Buyer

CALIFORNIA

Indicator Last Report Forecast Actual GDP Q3: +4.1% Q4: +2.7% Q4: +2.6% GDP Core PCE Q3: +1.4% Q4: +1.3% Q4: +1.3% GDP Final Sales Q3: +2.5% Q4: +2.4% Q4: +2.7% Initial Jobless Claims 3/15: 321,000 3/22: 325,000 3/22: 311,000 Continuing Claims 3/8: 2.876M 3/15: 2.873M 3/15: 2.823M Pending Home Sales Jan.: -0.2% Feb.: unch Feb.: -0.8%

Mar. 28, 2014 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.15 1.32 2.53 3.68 California A1/A/A+ 0.18 1.47 2.9 4.14 Hawaii Aa2/AA/AA+ 0.16 1.45 2.73 3.88 Idaho Aa1/AA+/NR 0.17 1.44 2.73 3.9 Montana Aa1/AA/AA+ 0.17 1.44 2.72 3.88 Nevada Aa2/AA/AA+ 0.2 1.5 2.83 4.01 Oregon Aa1/AA+/AA+ 0.15 1.4 2.59 3.79 Washington Aa1/AA+/AA+ 0.16 1.45 2.75 3.92 Wyoming NR/AAA/NR 0.15 1.4 2.61 3.76

Government

The weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was down one basis point to 4.77% for the week ending March. 27. The 40-bond index firmed along with other Bond Buyer municipal indicators.

Central Falls, R.I., reporting a $1.6 million surplus less than two years after exiting bankruptcy is a credit positive, according to Moody's.

Harrisburg, Pa., receiver William Lynch will be the featured speaker at Widener University School of Law's April 14 program on municipal distress.

New York Gov. Andrew Cuomo unveiled a transportation resiliency program to help prepare the region for future emergencies and reduce storm impact on vital transportation infrastructure.

Investors continue to snap up this week's largest deals, as overall issuance remains weak.

Connecticut's other post-employment benefits trust fund reached an overall value of $127 million, said state Treasurer Denise Nappier who cited strong 2013 returns.

More Californians said they would support an $11 billion water bond this year, compared to last year, according to a recent survey.

Illinois Gov. Pat Quinn's proposal to make a 2011 temporary income tax permanent won praise from two key factions – the General Assembly's Democratic leaders and investors.

Sen. Barbara Boxer, D-Calif., on Thursday said she expects the Senate Environment and Public Works Committee will be able to vote on a six-year transportation bill next month.

California cities that collect a property tax for pensions say a snafu in the state's process of winding down redevelopment agencies is hurting the cities' ability to service pension obligation bonds and threatens deficits and layoffs.

For yet another year, uncertainty surrounding the potential loss or cap of the municipal tax exemption concerned panelists at the National Municipal Bond Summit.

A Treasury Department official told bond lawyers to view the municipal bond provisions in House Ways and Means Committee Chairman Dave Camp's tax reform plan as a "scorecard of revenue offsets" that can be used in other tax proposals.

The Securities and Exchange Commission's new program to encourage self-reporting of a specific continuing disclosure violation is facing some skepticism from bond lawyers even as one SEC attorney said it may eventually be expanded to cover other violations.

The muni market continued making gains Thursday, and Morgan Stanley received the written award on $794.4 million California's State Public Works Board lease revenue bonds.

Detroit amended its interest-rate swaps deal to drop banks' requirement that it sign off on its plan of debt adjustment, and also said it would file an updated bankruptcy plan on Monday.

The Treasury Department auctioned $29 billion of seven-year notes, with a 2.25% coupon, a 2.258% high yield, a price of 99.948469.