News and Information from Bond Buyer

The newly announced Federal Open Market Committee forward guidance "weakens the credibility" of the Fed's "commitment to target 2 percent inflation" and increases policy uncertainty, Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said in explaining why he voted against the statement.

The bond insurers that wrap Detroit's unlimited-tax general obligation bonds have been ordered into a Monday mediation session with the city several weeks after the judge overseeing the case said he would issue a ruling on whether or not the city can treat the debt as unsecured.

Indicator Last Report Forecast Actual Initial Claims 3/8: 315,000 3/15: 322,000 3/15: 320,000 Cont. Claims 3/1: 2.848M 3/8: 2.865M 3/8: 2.889M Existing Home Sales Jan.: 4.620M Feb.: 4.610M Feb.: 4.600M Leading Indicators Jan.: +0.1% Feb.: +0.2% Feb.: +0.5% Philly Fed Manufacturing Feb.: -6.3 March: 3.8 March: 9.0

Mar. 21, 2014 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.15 1.13 2.51 3.76 California A1/A/A+ 0.18 1.28 2.88 4.23 Hawaii Aa2/AA/AA+ 0.15 1.26 2.69 3.96 Idaho Aa1/AA+/NR 0.17 1.25 2.71 3.98 Montana Aa1/AA/AA+ 0.17 1.24 2.7 3.96 Nevada Aa2/AA/AA+ 0.2 1.3 2.79 4.08 Oregon Aa1/AA+/AA+ 0.15 1.18 2.56 3.87 Washington Aa1/AA+/AA+ 0.16 1.24 2.71 4 Wyoming NR/AAA/NR 0.15 1.21 2.59 3.84

3/20/2014 3/13/2014 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 1 $29,330 0 $0 $29,330 California 8 1,202,890 12 2,393,220 -1,190,330 Hawaii 0 0 0 0 0 Idaho 1 3,845 1 3,845 0 Montana 0 0 0 0 0 Nevada 1 6,475 2 293,100 -286,625 Oregon 0 0 1 30,080 -30,080 Washington 1 6,625 0 0 6,625 Wyoming 0 0 0 0 0

Monday, March 24 Issuer St Description Amount

Monday, March 24 Issuer St Description Amount

Week Of March 24 Issuer St Description Amount

Friday, March 21 Issuer St Description Amount

CALIFORNIA

ARIZONA

Bond Buyer indexes softened, but outperformed treasuries in the week ending March 20.

Minnesota lawmakers were poised Thursday to vote on a plan to tap $434 million of the state's $1.2 billion budget surplus for tax relief and to set aside another $150 million to bolster budget reserves.

The owner of a Harrisburg minor league soccer team is looking to raise $14 million for a new stadium on City Island in Pennsylvania's capital.

The postponement of a pension reform measure that was headed for the November ballot is a credit negative for California's local governments, Moody's Investors Service said.

Illinois would impose an income tax surcharge on the state's millionaires to raise $1 billion of new revenue for school funding under a constitutional amendment proposed by state House Speaker Michael Madigan

Senate Finance Committee chairman Ron Wyden, D-Ore. wants the committee to vote early next month on legislation that would renew tax provisions that expired at the end of last year, a committee spokeswoman said.

Government

Municipal mutual funds reported inflows slowed to $107.3 million in the week ended March 20 from $223.8 million of inflows the week before. Assets of all weekly reporting municipal funds increased to $282.32 billion from $282.2 billion, Lipper FMI reported.

Net revenues at the Puerto Rico Highway and Transportation Authority came in 5.2% better than budgeted in the first six months of its fiscal year, the authority reported.