News and Information from Bond Buyer

Municipal bond yields firmed Monday morning as buyers prepared for the first week of more than $5 billion of potential issuance since January.

The Treasury Department said Monday it will sell $35 billion of four-week discount bills Tuesday.

A central Florida grand jury is investigating potential hiring improprieties by the Orlando-Orange County Expressway Authority.

Amid worsening drought that has lowered the level of Lake Mead, The Arizona Power Authority is preparing to issue $25 million of taxable revenue bonds for upgrades to the Hoover Dam.

Construction spending rose 0.1% in January, the Commerce Department said, 9.3% above the January 2013 level.

The overall economy grew for the fifty-seventh straight time, while the manufacturing sector expanded for the ninth consecutive month, the Institute for Supply Management reported Monday.

Personal income rose 0.3% or $43.9 billion in January following an unrevised flat reading in December, the Commerce Department reported Monday.

Moody's Investors Service said it has downgraded to A3 from Aa3 the general obligation unlimited tax rating on Warren Consolidated Schools, Mich.

Mar. 3, 2014 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.17 1.15 2.66 4.04 Delaware Aaa/AAA/AAA 0.13 0.98 2.38 3.71 Maine Aa2/AA/AA 0.17 1.07 2.54 3.85 Maryland Aaa/AAA/AAA 0.15 1 2.4 3.73 Massachusetts Aa1/AA+/AA+ 0.17 1.1 2.59 3.95 New Hampshire Aa1/AA/AA+ 0.15 1.04 2.47 3.83 New Jersey Aa3/AA+/AA+ 0.21 1.13 2.69 4.05 New York Aa2/AA/AA 0.19 1.05 2.47 3.89 Pennsylvania Aa2/AA/AA 0.17 1.15 2.67 3.99 Rhode Island Aa2/AA/AA 0.2 1.23 2.78 4.15 Vermont Aaa/AA+/AAA 0.15 1.05 2.46 3.78 Dist. of Columbia Aa2/A+/AA+ 0.18 1.16 2.67 4.02 Puerto Rico Baa3/BB+/BBB- 8.15 8.85 9 7.68

2/28/2014 2/21/2014 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 1 $15,930 1 $10,420 $5,510 Delaware 0 0 1 225,000 -225,000 Maine 1 8,669 1 2,000 6,669 Maryland 8 905,665 7 899,060 6,605 Massachusetts 4 114,410 6 170,406 -55,996 New Hampshire 0 0 0 0 0 New Jersey 6 336,357 6 417,495 -81,138 New York 11 917,665 10 536,198 381,467 Pennsylvania 9 100,545 7 85,690 14,855 Rhode Island 0 0 0 0 0 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 0 0 0 0 0

Tuesday, March 4 Issuer St Description Amount

Monday, March 3 Issuer St Description Amount

Tuesday, March 11 Issuer St Description Amount

Week Of March 3 Issuer St Description Amount

Day Indicator Last Report Forecast Monday Personal Income Dec.: unch Jan.: +0.2% Monday Consumption Dec.: +0.4% Jan.: +0.1% Monday Core PCE Dec.: +0.1% Jan.: +0.1% Monday Construction Spending Dec.: +0.1% Jan.: -0.5% Monday ISM Manufacturing Jan.: 51.3 Feb.: 52.0 Wednesday ISM Non Mfg Index Jan.: 54.0 Feb.: 53.5 Thursday Initial Claims 2/22: 348,000 3/1: 338,000 Thursday Continuing Claims 2/15: 2.964M 2/22: 2.970M Thursday Productivity Q3: +3.6% Q4: +2.6% Thursday Unit Labor Costs Q3: -2.0% Q4: -0.9% Thursday Factory Orders Dec.: -1.5% Jan.: -0.5% Friday Nonfarm Payrolls Jan.: +113,000 Feb.: +150,000 Friday Private Payrolls Jan.: +142,000 Feb.: +150,000 Friday Manufacturing Payrolls Jan.: +21,000 Feb.: +5,000 Friday Unemployment Rate Jan.: 6.6% Feb.: 6.6% Friday Avg Hrly Earnings Jan.: +0.2% Feb.: +0.2% Friday Work Week Jan.: 34.4 Feb.: 34.4 Friday International Trade Dec.: -$38.7B Jan.: -$39.0B Friday Consumer Credit Dec.: +$18.7B Jan.: +$14.0B

ALABAMA

A $1.1 billion Texas Transportation Commission revenue offering and a $700 million New York City general obligation sale this week will pump some life into the lackluster new-issue market.

Fitch Ratings downgraded more than $4 billion of Detroit Water and Sewerage Department debt to junk bond status Friday afternoon.

Moody's Investors Service revised its outlook on HealthEast Care System's junk bond rating to positive, signaling the Minnesota system could see a return to investment grade territory if its fiscal performance remains on track.

Missouri House members proposed an alternative bonding proposal to one announced by Gov. Jay Nixon to finance a new state psychiatric facility.