News and Information from Bond Buyer

U.S. inflationary pressures were slightly lower in October, as the U.S. future inflation gauge inched down to 99.5 from the revised September 100.1 reading, originally reported 100.0, according to data released Friday morning by the Economic Cycle Research Institute.

September Personal Income data showed income grew 0.5%, personal consumption expenditures rose 0.2%, and core PCE prices gained 0.1%.

Non-farm payrolls rose by 204,000 in October and the unemployment rate climbed to 7.3% from 7.2% in in September, the Bureau of Labor Statistics reported Friday.

Moody's Investors Service said it has downgraded to Aa3 from Aa2 the underlying general obligation rating of Grand Haven Area Public Schools, Mich.

ARKANSAS

ARIZONA

Friday, November 8 Issuer St Description Amount

Friday, November 8 Issuer St Description Amount

Indicator Last Report Forecast Actual GDP Q2: +2.5% Q3: +1.9% Q3: +2.8% Initial Jobless Claims Oct. 26: 345,000 Nov. 2: 335,000 Nov. 2: 336,000 Continuing Claims Oct. 19: 2.864M Oct. 26: 2.880M Oct. 26: 2.868M Consumer Credit Aug.: +$14.2B Sept.: +$12.0B Sept.: +$13.7B

Tuesday, November 12 Issuer St Description Amount

Tuesday, November 12 Issuer St Description Amount

Government

The 16-day federal government shutdown in October resulted in economic disruptions and budgetary costs to the federal government, according to a report from the Office of Management and Budget released Thursday afternoon.

Municipal bond mutual fund flows remained solidly in the red for a 24th straight week, with outflows of $738 million.

Attorneys will present closing arguments Friday in Detroit's court battle to enter Chapter 9 bankruptcy, capping an eight-day trial that centered on whether the city has negotiated in good faith with creditors.

Here is some advice to issuer's counsel regarding their role in bond issues.

Tax law and rulings don't support the IRS' position that the Village Center Community Development District in Florida is not a political subdivision and cannot issue tax-exempt bonds, tax law professor Ellen P. Aprill contends.

The municipal bond market posted gains Thursday, driven higher by buyers on the front-end of the curve and a stronger Treasury market, as customer buy trades from dealers made up the majority of transactions.

The Suffolk County, N.Y. legislature approved a budget for 2014 that includes tax anticipation notes equal to 14.3% of 2014 expenditures.

Despite weathering the 2008 financial crisis relatively unscathed, Philadelphia’s continues to face a challenge when it comes to controlling pension costs, the city’s Treasurer Nancy E. Winkler explained at the Bloomberg State & Municipal Finance Conference in New York on Wednesday.Winkler said during a panel called “View from States & Municipalities” that pension expanses have been a harder budgetary task to tackle than healthcare costs. Philadelphia’s pension system is about 50 percent funded and its immunization period was reset to 30 years as part of a reform effort following the financial crisis, Winkler explained.