The Bond Buyer articles from August 2004

The Bond Buyer archives from August 2004

The Digest.
August 2, 2004... Municipal bonds closed out the week on a positive note Friday, gaining ground as Treasuries soared on weaker-than-expected economic data. Complete market coverage by Nicholas Chesla appears on page 2 News REAL GROSS DOMESTIC PRODUCT -...

New York Eyes Train Plan: $2B In Unused 9/11 Tax Credits Could Be Used.
August 2, 2004... New York City or New York State may be allowed to sell $2 billion in unused tax credits from a $20 billion Sept. 11, 2001 federal aid package in order to help finance a $6 billion rail link that would connect lower Manhattan with John F....

Kansas City and Springfield, Mo., To Vote on $685 Million of Debt.
August 2, 2004... Missouri voters will tomorrow decide the Democratic and Republican candidates for governor, whether Kansas City can sell $170 million of bonds for a new downtown arena, and whether Springfield City Utilities should sell $515 million of debt for...

July Volume Fell Below $25 Billion: Issuance Down 27% From July '03.
August 2, 2004... Long-term municipal bond issuance volume continued to trend down from 2003 levels with $24.19 billion sold in July, a 27% drop-off from July 2003 that nearly mirrored the percentage decline that occurred in June when $35.13 billion was sold,...

News In Brief: Advance 2Q GDP Grows at 3.0% Rate.
August 2, 2004... Real gross domestic product - the broadest measure of the economy's performance - rose at the slowest pace since the first quarter of 2003, accelerating at a 3.0% seasonally adjusted annual rate in the second quarter of 2004, according to an...

News In Brief: OMB Projects $331B FY '05 Deficit.
August 2, 2004... The White House Office of Management and Budget predicts a $445 billion deficit this fiscal year, which would be a record in terms of dollar amount but a fairly moderate 3.8% of the total gross domestic product, according to President Bush's...

News In Brief: Chicago PMI Rose to 64.7 in July.
August 2, 2004... The Chicago Purchasing Manager's Business index grew to 64.7 in July from 56.4 in June, the fourteenth straight month of expansion as defined by a reading above 50.0, the Purchasing Management Association of Chicago said Friday. The data...

News In Brief: Consumer Sentiment Posts a July Gain.
August 2, 2004... The University of Michigan's final July consumer sentiment index reading was 96.7, compared to the preliminary July reading of 96.0, and the June reading of 95.6, according to market sources. Economists polled by IFR BondData America had...

News In Brief: NAPM-NY BCI Set Record in July.
August 2, 2004... The New York Business Conditions Index in the National Association of Purchasing Management-New York's Report on Business posted a monthly gain in July, the eleventh straight monthly rise in the index, and again a record high. The BCI grew...

Friday's Market: Munis Rise as Treasuries Climb On Lower-Than-Expected GDP.
August 2, 2004... Municipal bonds closed out the week on a positive note Friday, gaining ground as Treasuries soared on weaker-than-expected economic data. Governments moved higher early on when advance second-quarter gross domestic product rose 3.0%, which...

Corrections.(Correction Notice)
August 2, 2004... Thursday's story about Moody's Investors Service downgrade of New Jersey should have said the state's fiscal 2004 budget was $24 billion, not its fiscal 2003 budget. * The headline on Friday's story about Hamilton County, Ohio, was...

Chicago Faces $220 Million Shortfall in 2005, Officials Warn.
August 2, 2004... Amid rising employee costs and sluggish tax collections, Chicago faces a $220 million shortfall in its $5 billion budget for 2005, finance officials warned Friday when preliminary budget estimates were released. "This continues to be the...

Loudoun County, Va., Puts $108M of GOs on Nov. Ballot.
August 2, 2004... Loudoun County, Va., will ask voters to approve $108 million of general obligation bonds in separate ballot questions on Nov. 2, the county's comptroller said last week. The board of supervisors in the rapidly growing county approved the...

Some Pennsylvania Schools to Sell Ahead of Law.
August 2, 2004... Pennsylvania school districts are likely to sell debt or enter into forward bond purchase agreements over the next month before a new state law that limits their ability to issue general obligation bonds without voter approval goes into effect...

It's Official: Florida to Vote Again on Bullet Train.
August 2, 2004... Derail the Bullet Train, also known as DEBT, cleared the final legal hurdle enabling it to ask Florida voters on Nov. 2 to repeal the constitutional requirement that a high-speed train system be built. The state Division of Elections...

IRS Ruling Could Turn Into Deterrent for Multifamily Home Financings.
August 2, 2004... The Internal Revenue Service has issued a new revenue ruling that may indirectly deter developers from financing multifamily housing with tax-exempt bonds in conjunction with the low-income tax credit, a bond counsel said last week. The...

Holmes Harbor Developer Pleads Guilty to Criminal Charges.
August 2, 2004... The Holmes Harbor Sewer District, Wash., bond fraud case yielded another criminal guilty plea last week. Real estate developer Terry Martin on Thursday in federal court in Seattle pleaded guilty to more than 30 counts of conspiracy,...

The Week Ahead: New York City, Georgia GOs Competing for Attention.
August 2, 2004... New York City will headline this week's primary market activity with a $550 million general obligation sale, which will be joined by at least two other large GO deals from issuers with starkly different credit characteristics, as well as a pair...

Boston Water and Sewer Commission Offering $53M of Revenue Bonds.
August 2, 2004... The Boston Water and Sewer Commission will take bids on nearly $53 million of general revenue bonds tomorrow. The commission's financial adviser, Clark Rowell of UniBank Fiscal Advisory Services Inc., said the bonds are backed by the...

Options, Questions Abound as Osceola County, Fla., Considers Convention Center.
August 2, 2004... Osceola County commissioners today are slated to approve contractual documents clearing the way for $360 million of revenue bonds to be sold for the construction of the county's long-sought convention center and hotel project. However, an...

Austin Selling $118M in Four-Part Deal for Very Different Uses.
August 2, 2004... The Austin City Council Thursday approved a plan to issue nearly $118 million of debt this month -- a deal that will come to market Aug. 26 in four separate competitive sales. All four transactions will be sold via the i-Deal Parity...

Competitive Bond Offerings.
August 2, 2004... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING...

Competitive Note Offerings.
August 2, 2004... ISSUER ST DESCRIPTION AMOUNT($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Monday, August 2 Quincy MA Bond...

Negotiated Bond Offerings.
August 2, 2004... Tentative dates for negotiated sales of $5 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of August 2 Alaska Muni...

Negotiated Note Offerings.
August 2, 2004... ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of August 2 Michigan Muni Bond Auth MI Rev 296,835 UBS Financial Svcs - -...

Results of Negotiated Sales.
August 2, 2004... ALABAMA Cleburne County Jul 30, 2004 $2,340,000 General Obligation Warrants, Series 2004 (XL Capital Insured) (bank qualified) (book entry). Dated Aug 1, 2004. Due Jun 1, 2011 to 2025. First coupon Dec 1, 2004. ...

Deal in Focus: Baltimore Presses Ahead With Sale Despite Fiscal Woes.
August 2, 2004... Baltimore is planning a $30 million competitive transportation revenue bond sale for the fall as the city grapples with several fiscal challenges, including an ongoing school funding problem. Preparation for the sale comes a few months...

District of Columbia Recall Bid Fizzles.
August 2, 2004... A six-month effort to ask voters in November to consider booting Mayor Anthony Williams from office has ended, the Washington Post reported last week. Leaders of the campaign to oust Williams failed to present petitions bearing the...

MASSACHUSETTS: CareGroup Refunding.
August 2, 2004... The Massachusetts Health and Education Facilities Authority has worked out the final details on a deal to issue almost $186 million in bonds as part of a refinancing of debt on behalf of CareGroup Inc. Liam Sullivan, a spokesman for the...

New Jersey: Growing Jobs.
August 2, 2004... The Garden State is expected to add an average of 50,000 jobs annually through 2010, according to a report from Rutgers Economic Advisory Services released last month. This translates into an average annual growth rate of 1.2%, Nancy...

NEW YORK: LIPA'S GOs.
August 2, 2004... The Long Island Power Authority issued $200 million in general obligation bonds last week to pay for capital projects. LIPA chief financial officer Libby McCarthy said the authority issued $88.8 million in bonds on Wednesday at an interest...

Pennsylvania: Harrisburg Airport Sale.
August 2, 2004... The Susquehanna Area Regional Airport Authority, which issues debt for Harrisburg International Airport, is coming to market this week with roughly $28 million of senior-lien revenue bonds. Goldman, Sachs & Co. will underwrite the bonds,...

Pennsylvania: West Penn Improvement.
August 2, 2004... Standard & Poor's last week revised its outlook on West Penn Allegheny Health System's outstanding bonds to positive from stable and affirmed its long-term underlying B rating. The outlook improvement reflects management's efforts to...

Illinois Attorney General Seeking State Court for Casino Case.
August 2, 2004... In the latest development in a case over the sale of Illinois' only sellable casino license, which could raise some $400 million for state coffers, state Attorney General Lisa Madigan will tomorrow ask a federal judge to transfer to state...

LONG-TERM BONDS: January-July.
August 2, 2004... 2004 2003 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $213,903,100 7,680 $238,981,800 9,106 -10.5 % January 21,496,400 843 27,103,200 973 -20.7 February 26,544,900 1,054...

NEW-ISSUE VOLUME NOTES.
August 2, 2004... The new-issue volume tables are based on information compiled by The Bond Buyer from Thomson Financial's data base on Friday, July 30, 2004. All figures are preliminary and subject to revision. Long-term bonds have final stated maturities...

LARGEST ISSUES: July 2004.
August 2, 2004... Amount Issuer Date $720.1 Washington (State), GOs (TAX/TE) (cpt) Jul 13 583.8 Michigan Higher Educational Student Loan Authority (NM/ref) Jul 14 550.6 New York City, GOs (NM/ref) Jul 15 406.9 New York State Thruway Authority...

LONG-TERM BONDS: July.
August 2, 2004... 2004 2003 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $24,186,800 878 $33,127,400 1,358 -27.0 % Development 694,800 17 497,700 44 +39.6 Education 6,995,400 278 7,697,800 480 -9.1 ...

BOND SALES BY STATE: January-July.
August 2, 2004... 2004 2003 State Rank Volume Rank Volume Pct Chg Alabama 38 $896,600 24 $2,852,200 -68.6 % Alaska 47 457,100 44 700,300 -34.7 Arizona 11 5,424,600 17 3,937,900 +37.8 Arkansas 45 622,900 33 1,378,400 -54.8 ...

U.S. Securities Prices.
August 2, 2004... Prices as of 3 p.m. ET. Source: GovPx Inc. Treasury Bills Yesterday's Prev. Day's Yesterday's (in percent of discount) Bid/Offer Bid/Offer Bid Yield 1M -- 8/26/2004 1.235/ 1.260/250 1.253 3M -- 10/28/2004 1.420/410...

Short-Term Tax-Exempt Yields.
August 2, 2004... Jul 30, 2004 Jul 29, 2004 Aug 1, 2003 Selected MIG-1/SP-1+ Notes Los Angeles Co Trans 3s (June 05) 1.47 1.47 1.00 Texas Trans 2s (Aug 04) 1.15 1.15 0.90 Municipal Market Data Commercial Paper (30-Day) 1.10 1.10 0.85 ...

Municipal Market Data General Obligation Yields.
August 2, 2004... Aaa Aaa (pure) (ins) Aa A Baa 2005 1.45 1.51 1.50 1.60 1.95 2009 2.98 3.08 3.07 3.24 3.68 2014 3.79 3.92 3.89 4.13 4.53 2019 4.24 4.36 4.34 4.56 4.94 2024 4.65 4.79 4.74 4.90 5.23 2029 4.90 5.00 4.99 5.14 5.44...

Market Indicators.
August 2, 2004... Dollar amounts are in millions Day's 2004 2004 Daily Yesterday Change High Date Low Date Municipal Bond Index 108-23 +24/32 116-02 (3/11) 104-30 (5/13) 40 Average Dollar Price 98.76 +0.68 105.30 (3/11) 95.18 (5/13) ...

Visible Supply.
August 2, 2004... Competitive Negotiated Total ($000s) ($000s) ($000s) Weekly Averages 7/30/04 2,233,324 3,825,903 6,059,227 7/23 2,843,666 3,768,053 6,611,719 7/16 3,121,666 5,696,605 8,818,271 7/9 2,854,290 5,300,751 8,155,041 ...

General Obligation Bond Prices for July 30, 2004.
August 2, 2004... Intermediate Long-Term Bond and Ratings (Moody's/S&P's) Dated Cpn & Maturity Yield Price Prev Chg Cpn &Maturity Yield Price Prev Chg STATES California Series 2003 (A3/BBB) 11/1/03 3 1/8% 11/1/09 3.22 99 1/2 99 5/8 - 1/8 5 1/4%...

Placement Ratio.
August 2, 2004... No. Total Amt. Sales from Placement New New Accts. New Accts. Ratio Accts. ($000s) ($000s) (%) 2004 07/30 17 1,365,269 1,328,509 97.3 07/23 16 912,503 867,833 95.1 07/16 27 1,992,745 1,939,965 97.4 07/09 18...

Reoffering Yields.
August 2, 2004... NRO - Not Reoffered; S.B. - Sealed Bid; SNA - Sold, Not Available Offer Amount Date ($Mil) RECENT OFFERINGS 1 Year 5 10 15 20 25 30 Aaa -- AAA 7/15 27.0 Cache Sch. Dist., Utah (USBGP gtd.)... 2.98 3.88 4.42... ....... ...

New-Issue Balances.
August 2, 2004... (,000 Omitted) * Since initial reoffering + Revised upward since last report Amount Date RECENT OFFERINGS Sold Balance $250,000 7/28 Port Auth.of New York & New Jersey $6,430 All Sold 45,940 7/20 Glenview, Ill. (2 iss.)...

Municipal Market Yields.
August 2, 2004... Values at 7/30/2004 -- Basis Point Change from 7/23/2004 Aaa Aa A Baa 2005 1.53 00 1.68 00 1.90 00 2.21 00 2009 3.02 00 3.21 -01 3.45 -01 3.74 -01 2014 3.87 -01 4.07 -02 4.31 -02 4.61 -02 2019 4.38 -01 4.56 -02 4.80 -02...

Municipal Bond Index Update.
August 2, 2004... The list of bonds used to calculate the Municipal Bond Index was revised after the July 30 pricing. The new coefficient is 1.0219. It was derived by dividing the July 30 index (108.714771) by the average converted price of the new set of...

Municipal Bond Prices.
August 2, 2004... These 40 Bonds are evaluated and priced daily by Standard & Poor's Securities Evaluations. All figures are rounded to the nearest eighth when reported in this table. "Change in Bid" is rounded after calculation. Dollar Change...

Municipal Bond Index.
August 2, 2004... Yesterday Previous Day Week Ago The Bond Buyer Municipal Bond Index 108-23 107-31 108-28 Friday, July 30, 2004 Maturity Par Call Dollar Conversion Converted Date Date Price Factor Price 1 Texas Turnpike Authority 5s...

Budget Done, California Turns Eyes to Performance Review.
August 2, 2004... August dawned in California yesterday with a state budget in place, after drawn-out negotiations led to a belated deal last week satisfying Gov. Arnold Schwarzenegger and the leaders from both parties in the Legislature. Enactment of the...

The Digest.
August 3, 2004... Municipal bonds posted gains yesterday with lack of supply and a bid in Treasuries providing underlying support to the tax-exempt market. Complete market coverage by Nicholas Chesla appears on page 2 Washington THE GREENBRIAR CORP....

Schwarzenegger's Cuts: Veto Slashes California Power Agency's Budget.
August 3, 2004... Gov. Arnold Schwarzenegger went light on the line-item vetoes when he signed California's 2005 budget, though his veto pen did make cuts to a bond program strongly identified with one of his main political rivals. Though the Republican...

Say Aaa: Texas School Fund Stays Strong Even as It Nears Capacity.
August 3, 2004... The Texas Permanent School Fund is getting closer to its capacity to guarantee school district debt in the state. According to a report focusing on the PSF's capacity released by Moody's Investors Service on Friday, the Aaa rating for the...

N.Y. Leaders Craft $23B Spending Bill: State Depends On Emergency Budget.
August 3, 2004... The New York Legislature late yesterday was still was considering passage of a six-week, $23.2 billion emergency spending bill that will allow the state government to continue operating, but it was unclear whether that package would enable New...

News In Brief: June Construction Spending Down 0.3% to $985.2B.
August 3, 2004... Construction spending decreased 0.3% in June, Commerce Department figures released yesterday show. Total construction spending was estimated at a seasonally adjusted annual rate of $985.2 billion, following a revised 0.1% increase to...

News In Brief: Treasury to Raise $1B With 4-Week Bills.
August 3, 2004... The Treasury Department said it will sell $19 billion of four-week discount bills today. The four-week, or 28-day, bills will raise $1 billion in new cash by auctioning $19 billion to refund $18 billion of maturing bills. The bills...

News In Brief: Weekly T-Bills Go At 1.465%, 1.735%.
August 3, 2004... Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 1.465% high rate, up from the previous auction's rate of 1.425% and as the six-months incurred a 1.735% high rate,...

News In Brief: Treasury Sees $89B Of 3Q Borrowing.
August 3, 2004... The Treasury Department announced yesterday that it expects to borrow $89 billion in marketable debt during the July-September 2004 quarter and to have a cash balance of $35 billion on Sept. 30. The latest borrowing plans compare with the...

News In Brief: ISM Index Rises To 62.0% In July.
August 3, 2004... The overall economy expanded in July for the 33d consecutive month while the manufacturing sector grew for the 14th month in a row, the Institute for Supply Management reported yesterday. According to its monthly report on business, the...

Monday's Market: Munis Gain Amid Low Supply As Treasuries Rise on Threats, ISM.
August 3, 2004... Municipal bonds posted gains yesterday, with lack of supply and a bid in Treasuries providing underlying support to the tax-exempt market. Governments rose early on due to terrorist threats to U.S. financial institutions and remained higher...

A Correction.(Correction Notice)
August 3, 2004... The state of Georgia, which is scheduled to sell $660 million of general obligation bonds today, will use the $206 million Series 2004D new-money portion to pay for various capital projects. The use of those proceeds was incorrectly reported in...

Miami, No Longer in Financial Distress, Working on First Swap.
August 3, 2004... Miami has drawn the attention of more than 40 firms interested in working on the city's first swap or swaption in conjunction with the synthetic refunding of taxable pension bonds sold in 1995 when the city was in financial straits. Miami,...

Indiana Tax-Pact Foe Has Late August Deadline.
August 3, 2004... Calumet Township assessor Brooker Blumenberg has until the end of August to ask the Indiana Supreme Court to hear his appeal of an Indiana Tax Court decision that allows a settlement agreement between Lake County and U.S. Steel Corp. to...

Rhode Island Lawmakers Override Veto of Budget.
August 3, 2004... The Rhode Island legislature voted Friday to override the governor's veto and pass a $5.95 billion budget for the 2005 fiscal year. It is the second time in two years that the Democratic-controlled legislature has passed the budget over the...

MSRB Withdraws Proposed Notice on College Savings Plans.
August 3, 2004... The Municipal Securities Rulemaking Board withdrew a proposed interpretative notice on Section 529 college savings plans yesterday because recent changes in market practices in the mutual fund industry and several proposals to reform college...

S&P Raises Virginia Housing Agency's $2.5B of Single-Family Debt to AAA.
August 3, 2004... The Virginia Housing Development Authority's $2.5 billion in outstanding tax-exempt single-family commonwealth mortgage revenue bonds have been upgraded to AAA from AA-plus by Standard & Poor's. The one-notch upgrade Friday came four months...

Competitive Bond Offerings.
August 3, 2004... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING...

Competitive Note Offerings.
August 3, 2004... ISSUER ST DESCRIPTION AMOUNT($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Tuesday, August 3 Portland CT GO...

Negotiated Bond Offerings.
August 3, 2004... Tentative dates for negotiated sales of $5 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of August 2 Alaska Muni...

Negotiated Note Offerings.
August 3, 2004... ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of August 2 Michigan Muni Bond Auth MI Rev 296,835 UBS Financial Svcs --- --- --- --- --- Jul...

Results of Negotiated Sales.
August 3, 2004... COLORADO Colorado Housing and Finance Authority Jun 28, 2004 $239,000,000 Single Family Mortgage Bonds, Class I, 2004 Series A-4 (book entry) (AMT) $85,000,000. Dated Jul 28, 2004. Due Aug 1, 2005. First coupon Nov...

Results of Competitive Sales.
August 3, 2004... IOWA Altoona (City) Aug 2, 2004 $4,280,000 Water Revenue Bonds, Series 2004B (XL Capital Assurance) (book entry). Dated Sep 1, 2004. Due Jun 1, 2006 to 2023. Callable Jun 1, 2013 at par. Winning bid: Piper...

ARKANSAS: Wet Suit Cleared.
August 3, 2004... State Circuit Judge Willard Proctor last week cleared the way for a trial in a lawsuit challenging a $319 million irrigation project. The Arkansas Soil and Water Conservation Commission and the White River Irrigation District had filed a...

COLORADO: Toll Road Conversion.
August 3, 2004... The Colorado Tolling Enterprise, a new authority created to plan toll roads in the state, is considering its first project - the conversion of several lanes of a six-mile stretch of Interstate 25 from free lanes to toll lanes. Although...

KANSAS: Seamen School Vote.
August 3, 2004... Voters in the Seaman Unified School District 345 near Topeka will today decide the fate of a proposed $8 million bond issue that would allow the district to reorganize its facilities and free up money for operations. Under the proposed...

OKLAHOMA: Airport Loan Flap.
August 3, 2004... The Tulsa City Council plans to conduct an internal investigation of the Tulsa International Airport, adding to scrutiny of the city's loan to the now-bankrupt Great Plains Airlines. The airport is already under scrutiny by Mayor Bill...

TEXAS: Splitting the Ticket.
August 3, 2004... The board of trustees of the Conroe Independent School District late last month set a Sept. 25 date for a election in which voters will be asked to approve two separate bond propositions totaling $279.9 million. Proceeds from the bond...

TEXAS: Austin Streetcar Push.
August 3, 2004... A coalition of business, civic, and environmental groups last week urged Austin's mass transit agency, Capital Metro, to include streetcars in a bond election expected to go before voters in November. Metro already is considering whether or...

People: Samco Capital Markets Hires Two Bankers, Three Salesmen.
August 3, 2004... Dallas-based Samco Capital Markets Inc. brought five new bankers and salesmen on board this summer - part of the firm's plan to grow its business to become a larger player on both the regional and national levels. Jack Logan from BOSC...

Lease-Purchase Firm Adds Two to Vendor Finance Unit.
August 3, 2004... ORIX Public Finance LLC has added two new senior vice presidents to its vendor finance unit. The Kansas City-based firm announced last week that it appointed David Roeder to his new position and hired Frank Hill, formerly of Baystone...

Market Indicators.
August 3, 2004... Dollar amounts are in millions Day's 2004 2004 Daily Yesterday Change High Date Low Date Municipal Bond Index 109-00 +9/32 116-02 (3/11) 104-30 (5/13) 40 Average Dollar...