News and Information from Bond Buyer

Standard & Poor's Rating Services said it lowered its ratings on the Kentucky Economic Development Finance Authority's Subseries 2008A-1, Subseries A-2, and Series 2008B project revenue bonds issued for the Louisville Arena Authority Inc. to BB from BBB-minus.

Indicator Last Report Forecast Actual Initial Claims 12/14: 380,000 12/21: 349,000 12/21: 338,000 Continuing Claims 12/7: 2.877M 12/14: 2,800M 12/14: 2.923M

Dec. 27, 2013 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.17 1.23 2.79 4.21 California A1/A/A+ 0.19 1.43 3.24 4.82 Hawaii Aa2/AA/AA+ 0.17 1.35 2.97 4.41 Idaho Aa1/AA+/NR 0.19 1.36 2.99 4.46 Montana Aa1/AA/AA+ 0.19 1.37 2.97 4.42 Nevada Aa2/AA/AA+ 0.22 1.43 3.09 4.58 Oregon Aa1/AA+/AA+ 0.17 1.29 2.85 4.33 Washington Aa1/AA+/AA+ 0.2 1.34 2.98 4.47 Wyoming NR/AAA/NR 0.17 1.31 2.85 4.29

12/26/2013 12/19/2013 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 $0 0 $0 $0 California 4 109,835 4 109,835 0 Hawaii 0 0 0 0 0 Idaho 1 3,845 1 3,845 0 Montana 0 0 0 0 0 Nevada 0 0 0 0 0 Oregon 0 0 0 0 0 Washington 4 753,655 2 629,145 124,510 Wyoming 0 0 0 0 0

Monday, December 30 Issuer St Description Amount

Monday, December 30 Issuer St Description Amount

Week Of January 6 Issuer St Description Amount

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The weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was unchanged at 5.13% for the week ending Dec. 26, 2013, the highest since Oct. 24, 2013, (seven weeks ago), when it was 5.16%.

Puerto Rican teachers' unions are preparing to go on strike to protest the reform of their retirement system signed by Gov. Alejandro García Padilla.

Government

Treasury yields continued to rise Thursday afternoon following a report by the U.S. Labor Department that showed unemployment claims fell last week. Munis largely avoided the weakening of treasuries, remaining steady to somewhat softer.

Attorneys for Detroit's pension funds said they will challenge a new settlement between the city and its interest-rate swap counterparties.

Cincinnati re-launched construction Thursday on a $133 million, partly bond-funded streetcar line a week after the city council unexpectedly voted to revive the controversial project after a pledge of private support.

The closing of Harrisburg, Pa.'s financial recovery plan "is not the end of anything," according to state-appointed receiver William Lynch.

Municipal bond market participants, on guard against proposals to limit or eliminate the tax exemption, doubt 2014 will bring comprehensive tax reform.

Scott Stringer announced eight members of New York City comptroller team including Carol Kostik, who will remain as deputy comptroller for public finance.

As Fresno, Calif. continues to struggle with a weak economy, rising labor costs, and falling bond ratings, market participants express concerns of bankruptcy risk.

The municipal market is benefitting from the absence of traders and brokers who are on vacation this week as Treasuries continue a slide that began last week. Without active participants, yields on tax-exempt bonds have largely remained steady even as Treasury rates weaken.