News and Information from Bond Buyer

The U.S. December producer price data were a little worse than expected but probably should be averaged out with prior tame months for the conclusion that inflation remains low.

The Empire State Manufacturing Survey showed "business activity expanded for New York manufacturers, and did so at a faster pace than in recent months," the Federal Reserve Bank of New York reported Monday as the general business conditions index grew to 12.51 in January from 2.22 in December.

Indicator Last Report Forecast Actual Import Prices Nov.: -0.9% Dec.: +0.3% Dec.: unch Retail Sales Nov.: +0.4% Dec.: +0.1% Dec.: +0.2% ex-Autos Nov.: +0.1% Dec.: +0.4% Dec.: +0.7% Business Inventories Oct.: +0.8% Nov.: +0.3% Nov.: +0.4%

Jan. 15, 2014 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 1.02 2.29 3.91 5.23 Indiana Aaa/AAA/AA+ 0.17 1.21 2.75 4.12 Iowa Aaa/AAA/AAA 0.17 1.21 2.73 4.1 Michigan Aa2/AA/AA 0.24 1.37 2.99 4.36 Minnesota Aa1/AA+/AA+ 0.17 1.18 2.68 4.04 Missouri Aaa/AAA/AAA 0.17 1.14 2.61 3.98 Nebraska NR/AAA/AA+ 0.19 1.27 2.82 4.18 North Dakota Aa1/AA+/NR 0.19 1.24 2.76 4.15 Ohio Aa1/AA+/AA+ 0.19 1.19 2.76 4.18 South Dakota NR/AA+/NR 0.2 1.31 2.87 4.25 Wisconsin Aa2/AA/AA 0.19 1.26 2.82 4.22

1/14/2014 1/7/2014 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 18 $428,970 12 $172,860 $256,110 Indiana 2 23,295 3 47,595 -24,300 Iowa 3 85,390 3 81,760 3,630 Michigan 10 156,240 7 210,820 -54,580 Minnesota 18 836,630 19 356,780 479,850 Missouri 7 53,365 1 9,200 44,165 Nebraska 0 0 0 0 0 North Dakota 1 1,250 2 2,090 -840 Ohio 3 86,795 7 284,245 -197,450 South Dakota 0 0 0 0 0 Wisconsin 6 30,795 8 56,380 -25,585

Wednesday, January 15 Issuer St Description Amount

Wednesday, January 15 Issuer St Description Amount

Week Of January 13 Issuer St Description Amount

ARIZONA

ILLINOIS

New Jersey Gov. Chris Christie called for reform of the state's pension system and reduced debt service payments Tuesday afternoon.

A former Pennsylvania Turnpike worker pleaded guilty and received probation in a case the judge called an "offshoot" of a pay-to-play scandal.

Government

The municipal market steadied through the arrival of some of the week's deals, including the retail pricing of its largest.

House and Senate appropriators unveiled a $1.012 trillion bipartisan omnibus spending bill for fiscal year 2014 late Monday that would provide funds for transportation and many other programs but not high speed rail.

Van Eck Global expanded its line of exchange-traded funds with the debut Tuesday of the Market Vectors Short High Yield Municipal Index ETF, its seventh municipal bond ETF and latest tool for cutting duration and increasing yield potential in a rising interest rate environment.

Puerto Rico Gov. Alejandro García Padilla reached an accord with Puerto Rican mayors concerning cities' bank deposits and a municipal sales and use tax bond structure, key elements in his efforts to reduce the deficit and protect the island's investment grade credit rating.

The National Federation of Municipal Analysts has issued a white paper describing best disclosure practices in the primary market, recommending more "plain English" offering documents, clear descriptions of security for bonds, and details about key investment risks.

Standard & Poor's upgraded Series 2007civic facility revenue bonds issued for Polytechnic University after the school merger with NYU closed.