News and Information from Bond Buyer

The New York region's service sector "increased modestly" in January, according to the Federal Reserve Bank of New York's Business Leaders Survey, released Thursday.

Builders' confidence in the market for new single-family homes fell as the National Association of Home Builders' housing market index - a monthly gauge of builder sentiment - dipped to 56 in January from a revised 57 in December, first reported as 58.

The Chicago Purchasing Managers' Business Barometer annual revisions moved December's reading to 60.8 in from the 59.1 initially reported, the National Association of Purchasing Management-Chicago said Thursday.

While recent experience indicates zero lower bound (ZLB) is a bigger problem than believed, but forward guidance, large-scale asset purchases, and sometimes fiscal policy can offset the issues, Federal Reserve Bank of San Francisco President John C. Williams wrote in a paper presented Thursday.

The U.S. December consumer price index printed up 0.3% in its biggest gain since June, as expected. The core CPI posted a 0.1% increase.

Initial jobless claims dropped 2,000 to 326,000 in the week ended January 11, the Labor Department said Thursday.

Federal Reserve Bank of Atlanta President Dennis Lockhart, who doesn't vote on monetary policy this year, said he expects inflation that's been "too low" will accelerate toward the Fed's 2% target.

Indicator Last Report Forecast Actual Empire State Manufacturing Dec.: 2.22 Jan.: 4.0 Jan.: 12.51 PPI Nov.: -0.1% Dec.: +0.4% Dec.: +0.4% PPI Core Nov.: +0.1% Dec.: +0.1% Dec.: +0.3%

Jan. 16, 2014 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.19 1.23 2.82 4.18 Florida Aa1/AAA/AAA 0.19 1.23 2.79 4.17 Georgia Aaa/AAA/AAA 0.17 1.14 2.62 3.98 Kentucky Aa2/AA+/AA 0.19 1.27 2.85 4.23 Louisiana Aa2/AA/AA 0.18 1.25 2.83 4.2 Mississippi Aa2/AA/AA+ 0.2 1.26 2.84 4.19 North Carolina Aaa/AAA/AAA 0.17 1.14 2.62 3.98 South Carolina Aaa/AA+/AAA 0.17 1.16 2.65 4 Tennessee Aaa/AA+/AAA 0.17 1.15 2.67 4.03 Virginia Aaa/AAA/AAA 0.15 1.14 2.62 3.98 West Virginia Aa1/AA/AA 0.19 1.27 2.84 4.22

1/15/2014 1/8/2014 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 1 $9,630 1 $9,630 $0 Florida 9 829,395 8 707,780 121,615 Georgia 5 160,440 5 160,440 0 Kentucky 2 7,725 4 15,495 -7,770 Louisiana 6 98,100 5 68,100 30,000 Mississippi 0 0 0 0 0 North Carolina 1 20,020 0 0 20,020 South Carolina 1 16,405 1 22,000 -5,595 Tennessee 0 0 4 20,400 -20,400 Virginia 2 312,745 2 312,745 0 West Virginia 0 0 0 0 0

Thursday, January 16 Issuer St Description Amount

Thursday, January 16 Issuer St Description Amount

Week Of January 13 Issuer St Description Amount

FLORIDA

ALABAMA

The approach taken to funding public defined-benefit pension plans is "deeply flawed," a research group said Thursday in a report that urged the federal government and Congress to consider ways to make sure public pension systems function better.

Puerto Rico has denied that any consideration of a debt restructuring is under way.

Trading flows in the municipal bond secondary market accelerated as Wednesday's session progressed, but tax-exempt yields slackened.

Government

Bond dealers expect 2014 to be the second-worst year for municipal issuance in a decade, and some predict the lowest volume since 2000, as the Federal Reserve's tapering program pushes interest rates higher.