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A fix for Illinois’ $112.9 billion unfunded pension tab, which requires an $8 billion contribution next year, remains high on the minds of lawmakers in the midst of their 10-month-old budget impasse.
Standard & Poor's has declared the Government Development Bank for Puerto Rico in "selective default" because the governor has partially frozen account withdrawals.  more »
With New Jersey Gov. Chris Christie pushing for a state takeover of Atlantic City, members of the Republican governor’s administration were grilled by lawmakers Monday for allowing the gambling resort to plunge into distress.  more »
Bond Dealers of America is urging the Municipal Securities Rulemaking Board to leave unchanged some rules that relate to the municipal securities market’s move to a two- instead of three-day settlement cycle.  more »
As it delivers growing numbers of commuters through Houston’s congested car culture, the Metropolitan Transit Authority of Harris County will make a side trip to the municipal market with $136 million of refunding bonds.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$535,000
Massachusetts Water Resources
MA
Revenue bonds
04/14/16
9am ET
$500,000
New York City TFA
NY
Revenue bonds
04/12/16
11:15am ET
$414,210
California Infrastructure
CA
Revenue bonds
04/13/16
9am ET
$256,890
Orange Co. HFA
FL
Revenue bonds
04/13/16
9am ET
$231,000
Ohio
OH
GOs
04/12/16
9am ET
Index
Current
Previous
High
Low
Rev. Bond
3.69%
3.76%
5.40%
3.69%
20-Bond
3.28%
3.38%
5.03%
3.27%
11-Bond
2.80%
2.90%
4.75%
2.79%
 
Current
Previous
High*
Low*
BB40 Index
130-20
130-25
132-15
107-01
Average Price
110.35
110.48
110.87
84.90
Yield to Par Call
3.12
3.10
6.35
3.11
Yield to Maturity
3.95
3.94
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$500,000
New York City TFA
NY
Revenue bonds
04/12/16
11:15am ET
$199,475
New York City TFA
NY
Revenue bonds
04/12/16
10:15am ET
$154,600
Platte River Pwr
CO
Revenue bonds
04/12/16
10:30am ET
$82,455
Las Vegas
NV
GOs
04/12/16
11:30am ET
$74,550
California
CA
GOs
04/12/16
11:45am ET

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The impact on state transportation funding from the new $305 billion Fixing America’s Surface Transportation (FAST) Act is explored by Matt Click from the infrastructure solutions firm HNTB with Northeast regional reporter Andrew Coen. Click has nearly 20 years’ experience advising states on tolling, transportation finance, congestion pricing and priced managed lanes.

The Internal Revenue Service is changing the wrong regulation as it seeks to curb the perceived abuse that tax-exempt, governmental purpose bonds are being issued for the impermissible benefit of private developers.

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