News and Information from Bond Buyer

The Treasury Department said Thursday it will auction $30 billion 91-day bills and $26 billion 182-day discount bills Monday.

The Treasury Department said Thursday it will sell $20 billion of four-week discount bills Monday.

Municipal advisor regulations are likely to be the focus of intense debate in 2014, as the Municipal Securities Rulemaking Board labors to release rules and broker-dealer groups continue to push for interpretations favorable to underwriters.

The unemployment claims totals probably should be ignored due to holiday volatility.

Indicator Last Report Forecast Actual Durable Goods Oct.: -0.7% Nov.: +1.7% Nov.: +3.5% ex-Transportation Oct.: +0.7% Nov.: +0.7% Nov.: +1.2% New Home Sales Oct.: 474,000 Nov.: 445,000 Nov.: 464,000

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ARIZONA

Government

Bankrupt Detroit will shave about $65 million off its costs to terminate interest-rate swaps under a new settlement agreement reached with its bank counterparties the day of Christmas Eve.

Standard & Poor's has upgraded Philadelphia's general obligation debt to A-plus from A-minus.

After almost a year of anticipation, the long-looming ominous cloud of a Federal Reserve taper finally broke on the municipal market last week. The ensuing storm has been but a whimper, said Bank of America's Phil Fischer.

BNY Mellon has agreed to reimburse Massachusetts Pension Reserves Investment Management $15.6 million related to foreign currency exchange overcharges, PRIM's board said.

The five-day trial to settle a rate dispute between the San Diego County Water Authority and its wholesale water supplier ended without the judge making a ruling.

Mark Collins, a Moody's director whose gregarious personality and intimate knowledge of the municipal market propelled a 30-year career in the industry, died Saturday. He was 55.

San Jose, Calif. cannot make voter approved pension cuts, but it can reduce pay to help fund higher retirement costs, a judge ruled on Monday.

A bond insurer and Detroit's two pension funds are among five appointees to the committee named to represent the interests of unsecured creditors as the city proceeds through Chapter 9.

State budgets seem to be "stabilizing and settling into a period of modest growth," but recovery from the Great Recession is still "a work in progress," a report from the National Conference of State Legislatures found.

Municipal advisor regulations are likely to be the focus of intense debate in 2014, as the Municipal Securities Rulemaking Board labors to release rules and broker-dealer groups continue to push for interpretations favorable to underwriters.