Public finance

Table as of: 03/05/2013 12:57 PM Invisible Supply Issuer and purpose Amount

ALABAMA

FLORIDA

The American Association of State Highway and Transportation Officials expressed dismay Monday over a House bill for a continuing resolution to fund the U.S. government.

IOWA

CALIFORNIA

The taxable municipal bond market is attracting buyers as the tax-exempt municipal bond market and other taxable asset classes look expensive.

The New York Supreme Court dismissed the lawsuit brought by various financial institutions against MBIA Inc. over its 2009 split into two companies.

Build America Bond payments will be delayed by up to six weeks and they will be cut by $171 million due to the automatic spending cuts that went into effect on Friday, according to the Office of Management and Budget.

KENTUCKY

ALABAMA

A nearly $700 million Maryland general obligation sale will headline the primary market this week -- despite facing potential spending constraints -- and will be among several other Northeast issuers that will dominate the new-issue calendar following strong activity last Friday.

Moody's Investors Service has given its stamp of approval to Virginia's new transportation funding plan, saying that it is a credit positive for the commonwealth at a time when it is highly exposed to risk from federal cuts.

Standard & Poor's downgraded bond insurer National Public Finance Guarantee three notches to BB from BBB Thursday evening.

Michigan Gov. Rick Snyder's historic decision Friday to take over the city of Detroit bodes well for the credit and for other local distressed governments, muni experts said, even as Snyder warned that all creditors might take have to take a loss.

Amid finger-pointing and political grandstanding, President Obama and congressional leaders failed to come to an agreement to avoid $85 billion in sweeping automatic budget cuts, which kicks in on Friday.

The tax-exempt market ended February on a high note with a rally across the curve.

Although negative, the effects of sequestration on state and local governments will be gradual and issuers are mostly prepared, according to Fitch Ratings, Moody's Investors Service and Standard & Poor's.

Table as of: 02/28/2013 13:59 PM Invisible Supply Issuer and purpose Amount

ARKANSAS