News and Information from Bond Buyer

Muni finance veteran Catherine Bando has been appointed as executive director of the California Statewide Communities Development Authority.

The Federal Reserve will taper its asset purchases by $10 billion a month in February, the Federal Open Market Committee said in a statement released Wednesday following the committee's two-day meeting.

Oregon Gov. John Kitzhaber says the state legislature must take action next month to move forward with the Columbia River bridge replacement project or it will die in March.

Georgia Gov. Nathan Deal is proposing a $42 billion fiscal 2015 budget that includes authorization for $763 million of state general obligation bonds.

Yields on municipal bonds rose across the curve Wednesday afternoon as supply remained limited and investors waited to hear an update on tapering from the Federal Reserve.

The lawyer representing Rhode Island in its suit against 38 Studios told state lawmakers that legislation would enhance the prospects of a settlement.

The city of Stockton, Calif. now has a new city manager, Kurt Wilson, to help guide it through the remainder of its bankruptcy process.

Assured Guaranty and National Public Finance Guarantee have sufficient capital positions to withstand a potential downgrade of Puerto Rico bonds, Standard & Poor's said in a note Wednesday.

Sentencing for convicted bid-rigger David Rubin has been pushed back until March 6 because his attorney will not be able to be present during the previously scheduled Feb. 3 date.

The head of Amtrak said the rapidly depleting federal Highway Trust Fund should be replaced with a Transportation Trust Fund that can invest in rail as well as highways.

The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.045%, at a 0.045% spread, a price of par.

Nearly $620 million of tax-exempt debt for a $2.3 billion Texas water pipeline is drawing a crowd in the tax-exempt market.

Puerto Rico general obligations have outperformed AAA-rated GOs as municipal bonds have rallied this month.

Moody's Investors Service has downgraded the issuer rating on Fresno, Calif. to Baa1, and about $300 million of related debt a notch further into junk territory.

The Institute for Supply Management revised its December manufacturing index to 56.5 from 57.0, as a result of seasonal adjustments, the group said Wednesday.

Moody's Investors Service said it has upgraded the rating on Cedar Park Water and Sewer Enterprise, Texas's senior lien revenue bonds to Aa2 from Aa3, affecting $27.8 million of debt.

Moody's Investors Service said it has downgraded to Baa2 from Baa1 the rating on Clyde Park District, Ill.'s general obligation limited tax (GOLT) bonds.

Moody's Investors Service said it has downgraded the city of Fresno, Calif.'s issuer rating to Baa1 from A3.

Moody's Investors Service said it downgrades Brea-Olinda Unified School District's, Calif.'s general obligation bond rating to Aa3 from Aa2.

Indicator Last Report Forecast Actual Durable Goods Nov.: +2.6% Dec.: +1.0% Dec.: -4.3% Durable Goods ex-trans Nov.: +0.1% Dec.: +0.6% Dec.: -1.6% Consumer Confidence Dec.: 77.5 Jan.: 79.1 Jan.: 80.7