News and Information from Bond Buyer

State investment portfolios are seeing an uptick in alternative investments with less focus on fixed income.This trend was highlighted by five public fund chief investment officers during a panel at the Dec. 4 National Association of State Treasurers (NAST) conference in New York City. The panel called “Trends in Asset Allocation” focused heavily on how alternative investments such as real estate, private equity and hedge funds have been effective with portfolios increasing yields while also combatting the risk of expected higher interest rates in the near future.

The University of Michigan's preliminary December consumer sentiment index reading was 82.5, compared to the final November 75.1, the preliminary November 72.0, and the final October 73.2, according to market sources.

U.S. inflationary pressures were slightly higher in November, as the U.S. future inflation gauge climbed to 100.3 from the revised October 99.7 reading, originally reported 99.5, according to data released Friday morning by the Economic Cycle Research Institute.

Dallas Federal Reserve Bank President Richard Fisher said Thursday he supports a definitive path for scaling back large scale asset purchases once the Fed's policymaking committee makes the decision to start tapering.

October Personal Income data showed continued spending despite a drop in income that stemmed from slower wage growth, lower interest and dividends, and a retrenchment in farm income. Some of the slowing in income probably stemmed from the government shutdown.

The U.S. November employment report was stronger than expected, with the only lingering effects of the federal government shutdown perhaps being a slowing in federal hiring.

Indicator Last Report Forecast Actual Initial Jobless Claims Nov. 23: 321,000 Nov. 30: 320,000 Nov. 30: 298,000 Continuing Claims Nov. 16: 2.765M Nov. 23: 2.810M Nov. 23: 2.744M GDP Q2: +2.5% Q3: +3.0% Q3: +3.6% Factory Orders Sept.: +1.8% Oct.: -1.0% Oct.: -0.9%

Friday, December 6 Issuer St Description Amount

Friday, December 6 Issuer St Description Amount

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ARKANSAS

The Indiana Finance Authority won The Bond Buyer's 12th annual Deal of the Year award for its Ohio River Bridges East End Crossing Project.

Government

The municipal bond market paddled against stronger-than-expected economic currents and weaker Treasuries Thursday, with yields losing some ground on the longer end.

The Bond Buyer's weekly yield indexes rose the week ended Dec. 5.

Virginia Gov. Bob McDonnell said his state should be in the next offshore oil and gas lease plan after release of a Dec. 5 study showing new economic benefits.

U.S. Bankruptcy Judge Stephen Rhodes has released the written opinion supporting his determination that Detroit is eligible to enter Chapter 9 bankruptcy.

It is not time to panic despite the struggle of Detroit bondholders to regain their money, representatives of the four largest bond rating agencies told state treasurers Thursday.

Newly issued Treasury securities held in stripped form increased about $1.188 billion in November to a total of $203.701 billion, the Bureau of the Public Debt reported Thursday.