News and Information from Bond Buyer

A Senate committee was warned Wednesday that the looming insolvency of the federal Highway Trust Fund could shut down transportation projects across the county.

The federal government ran a $10.4 billion deficit in January, the Treasury Department reported Wednesday.

The bulk of new issues slated for pricing this week came Wednesday, as issuers moved to get deals done before a winter storm hits the northeastern region Thursday.

A federal agency called off a settlement announcement regarding the lawsuit challenging Rhode Island's pension overhaul law, while a judge set a September trial date.

The Louisiana State Bond Commission and the city of New Orleans are a step closer toward settling a two-year-old federal housing discrimination lawsuit.

The Financial Industry Regulatory Authority has received dozens of filings for arbitration investors who say they were harmed by unsuitable advice doled out by UBS Financial Services of Puerto Rico when the market for the commonwealth's bonds declined.

The Fort Worth City Council is asking voters to approve $292 million of general obligation bonds on May 10.

The Treasury Department auctioned $24 billion of 10-year notes with a 2 3/4% coupon at a 2.795% high yield, a price of 99.609744.

Republican City Councilman Kevin Faulconer was elected San Diego mayor in a Tuesday night run-off election, replacing former mayor Bob Filner, who resigned last fall amid a sexual harassment scandal.

Moody's Investors Service said it has downgraded the rating on the village of Suffern, N.Y.'s outstanding general obligation debt to Baa1 from A2, affecting approximately $7.3 million of rated bonds.

Municipal bond yields climbed on the long end of the curve Wednesday, playing catch-up to Treasury losses that occurred Wednesday after testimony by Federal Reserve Chair Janet Yellen.

Pennsylvania House Speaker Sam Smith will not seek re-election, ending a 27-year legislative career.

Federal Reserve Bank of St. Louis President James Bullard said the Fed will probably signal the path for interest rates based on "qualitative" judgments of the economy, moving away from a pledge to begin considering higher rates when unemployment falls below 6.5 percent.

The rain and snowstorms that hit California last weekend weren't enough to pull the state out of its drought emergency, according to Fitch Ratings.

The Harrisburg, Pa., City Council tabled a vote to authorize up to $4 million to issue tax and revenue anticipation notes, while it OK'd a $78 million budget.

Inflation is expected to be 2.0% in the next 12 months, according to the Federal Reserve Bank of Atlanta's most recent business inflation expectations survey, slightly higher than the 1.9% rate forecast in the past two surveys.

The too big to fail issue has not been solved, Federal Reserve Bank of Richmond President Jeffrey M. Lacker said Tuesday.

Returning to a theme that's been popular with him, Federal Reserve Bank of Dallas President and CEO Richard W. Fisher, reiterated late Tuesday that monetary policy is solid and it is the obstacle to prosperity is the federal government.

Indicator Last Report Forecast Actual Wholesale Inventories Nov.: +0.5% Dec.: +0.5% Dec.: +0.3% Wholesale Sales Nov.: +1.0% Dec.: +0.5% Dec.: +0.5%

Feb. 12, 2014 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.34 2.05 3.72 4.99 Indiana Aaa/AAA/AA+ 0.17 1.17 2.66 3.98 Iowa Aaa/AAA/AAA 0.17 1.17 2.64 3.96 Michigan Aa2/AA/AA 0.24 1.33 2.9 4.22 Minnesota Aa1/AA+/AA+ 0.17 1.13 2.59 3.9 Missouri Aaa/AAA/AAA 0.17 1.1 2.52 3.84 Nebraska NR/AAA/AA+ 0.19 1.23 2.73 4.04 North Dakota Aa1/AA+/NR 0.19 1.2 2.67 4.01 Ohio Aa1/AA+/AA+ 0.19 1.15 2.69 4.05 South Dakota NR/AA+/NR 0.2 1.27 2.78 4.11 Wisconsin Aa2/AA/AA 0.19 1.23 2.74 4.07