The Bond Buyer articles from September 2007

The Bond Buyer archives from September 2007

Tuesday.
September 4, 2007... Regions MOODY'S INVESTORS Service last week downgraded the Santa Rosa Bay Bridge Authority's revenue bonds to B2 from B1, which represents Moody's third downgrade since the authority opened the 3.5-mile long Garcon Point toll bridge in...

Deal in Focus: Texas Finance Agency Plans $239M of GOs.
September 4, 2007... DALLAS -- Facing a volatile market, the Texas Public Finance Authority is planning a $239.4 million general obligation refunding bond issue this month, but conditions could cause a postponement. Although the target date for the deal is...

The Default Rate Debate: Counting Conduits Boosts Muni Totals.
September 4, 2007... WASHINGTON -- The default rate in the municipal market may be about eight times higher than the rate cited by market groups when conduit deals are taken into account, according to market data. While the rate still appears to be less than 1%...

FINRA Site Launch Set For Today: Will Offer Real-Time Trade Data for Free.(Website overview)
September 4, 2007... WASHINGTON -- The Financial Industry Regulatory Authority today plans to formally launch an expansive new Web site that will display real-time pricing and other trade data for government, corporate, and municipal bonds for free, FINRA officials...

In Brief: July Personal Income +0.5%, Core PCE Prices +0.1%.
September 4, 2007... July personal income rose 0.5%, personal consumption expenditures gained 0.4%, and PCE core prices rose 0.1% with a 1.9% gain over the year. This marks the second month that PCE core prices are below the 2% level that presumably marks the...

In Brief: Chicago PMI Increases To 53.8% in August.
September 4, 2007... The Chicago purchasing managers index rose to 53.8% in August from 53.4% in July, the National Association of Purchasing Management Chicago said on Friday. Economists polled by IFR Markets had predicted the Chicago PMI would slip to 53.0%...

In Brief: Univ. of Mich. August Sentiment Index At 83.4.
September 4, 2007... The University of Michigans final August consumer sentiment index is 83.4 compared to 83.3 in the preliminary August report and 90.4 in the final June report, according to market sources. Economists surveyed by IFR Markets predicted the...

In Brief: July Factory Orders Up 3.7%; Ex-Transportation Up 2.4%.
September 4, 2007... The Commerce Department said Friday that orders to factories inched up 3.7% in July, beating the 3.3% increase that was expected by analysts. The increase, following three months of tepid gains, was led by an 11% hike in demand for...

Munis Unchanged Despite Bernanke Remarks.
September 4, 2007... The municipal market was largely unchanged Friday, with little discernible reaction to comments by Federal Reserve chairman Ben Bernanke in which he said the central bank will act as needed to limit the adverse effects on the broader economy...

Moody's Downgrades Santa Rosa Bay Bridge Agency to B2 From B1.
September 4, 2007... BRADENTON, Fla. -- Moody's Investors Service Thursday downgraded the Santa Rosa Bay Bridge Authority's revenue bonds to B2 from B1, which represents Moody's third downgrade since the authority opened the 3.5-mile long Garcon Point toll bridge...

Pennsylvania County Aims to Cut Gas Emissions.
September 4, 2007... Montgomery County, Pa., officials are trying to determine whether the county can use its triple-A general obligation rating to issue tax-exempt debt for greenhouse gas reduction projects to fight global warming. County officials met with...

Issuance: Preliminary Data Shows August Volume Drops.
September 4, 2007... The volume of refundings took a hit during August, as municipal yields rose and Treasury yields dropped for much of the month. Overall, the municipal primary market saw $27.2 billion of bonds sold last month, about 14% less than August...

People: GFOA Selects Hoadley to Lead Governmental Debt Panel.
September 4, 2007... The Government Finance Officers Association has tapped Wisconsin capital finance director Frank Hoadley to lead its committee on governmental debt management. The GFOA made the announcement late Thursday and said that Julia H. Cooper,...

The Week Ahead: New Jersey Leads Shortened Calendar With $2 Billion of Trans.(Calendar)
September 4, 2007... A $2 billion tax and revenue anticipation note sale by New Jersey will head up the new-issue calendar in this holiday-shortened week, representing more than half of the $3.7 billion of debt scheduled to come to market. Despite the short...

Mutual Funds: Weekly Reporters Post $126M of Outflows.
September 4, 2007... Weekly reporting municipal bond mutual funds had a net outflow of $126 million during the period ending Aug. 29, AMG Data Services reported. The results were up from a $566 million outflow the previous week, and represent the fourth...

Southwest Invisible Supply.
September 4, 2007... Approval Underwriter Expected Issuer and purpose Amount* status choice sale date ARIZONA AzDOT/Maricopa County $3,043 P negotiated 2007-20 Maricopa County CCD $951 A negotiated 2007-15 Phoenix water...

Visible Supply by State.
September 4, 2007... Aug. 31, 2007 Aug. 24, 2007 State Issues Amount Issues Amount Chg in Amt Arizona 2 $122,195,000 2 $11,545,000 $110,650,000 Arkansas 2 2,860,000 1 530,000 2,330,000 Colorado 3 112,785,000 2 33,785,000...

Plain/Insured GO Yield Curves for Aug. 30, 2007*.
September 4, 2007... State Ratings One-Year Five-Year 10-Year 30-Year Utah Aaa/AAA/AAA 3.61 / 3.62 3.67 / 3.72 4.01 / 4.10 4.64 / 4.71 Arkansas Aa2/AA/NR 3.62 / 3.63 3.73 / 3.72 4.09 / 4.07 4.72 / 4.71 New Mexico Aa1/AA+/NR 3.65 /...

NEW MEXICO: Spaceport Design Revealed.
September 4, 2007... Architectural renderings of the main terminal and hangar facility at Spaceport America will be unveiled today at a news conference in Las Cruces by the New Mexico Spaceport Authority. The 100,000-square-foot facility will be the headquarters...

NEW MEXICO: Dona Ana's New Tax Districts.
September 4, 2007... Dona Ana County commissioners have adopted an ordinance establishing rules and regulations for new state-enabled tax increment development districts in the county. The New Mexico Legislature authorized the districts in its 2007 session,...

OKLAHOMA: More Private River Funds.
September 4, 2007... Private groups have increased their planned contributions to a development project along the Arkansas River through Tulsa to more than $117 million with three new commitments. Philanthropists and civic foundations had pledged a total of $100...

TEXAS: Ft. Worth ISD OKs Budget.
September 4, 2007... Forth Worth Independent School District trustees last week approved a $566.7 million budget for fiscal 2008 that anticipates a $10 million difference between revenue and expenditures. The district expects to bring in $556.7 million of...

TEXAS: From Woodlands to City?
September 4, 2007... Residents in the Woodlands planned community, some 15 miles north of Houston, will vote Nov. 6 on three propositions that could allow it to become a city. The propositions would expand the boundaries of the Woodlands Town Center...

TEXAS: Unequal School Funding.
September 4, 2007... Researchers with the Center for Reinventing Public Education at the University of Washington found that per-pupil funding over a 10-year period in Texas four largest school districts Dallas, Fort Worth, Houston, and Austin showed higher...

TEXAS: Capital Planners May Toll.
September 4, 2007... The Capital Area Metropolitan Planning Organization board will hold a public hearing Sept. 10, and then will make a final decision Oct. 8, whether to expand four Austin highways and add tolls while building a fifth toll road from scratch. ...

Competitive Bond Offerings.
September 4, 2007... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com A letter "P" signifies that a link to the POS is on the Bond Buyer Online's Competitive Bond Offering Calendar....

Competitive Note Offerings.
September 4, 2007... Tentative dates for negotiated sales of $1 million or more. Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com A letter "P" signifies that a link to the POS is...

Negotiated Bond Offerings.
September 4, 2007... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of September 3 ...

Negotiated Note Offerings.
September 4, 2007... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of September 3 Calexico...

Results of Negotiated Sales.
September 4, 2007... ALABAMA Demopolis Industrial Development Board Aug 21, 2007 $1,345,000 Variable Rate Gulf Opportunity Zone Bonds (Jackson Paper Company, Inc. Project) Letter of Credit Issued by Robertson Banking Company (book entry) Dated...

Results of Competitive Sales.
September 4, 2007... MICHIGAN Howland Drain Drainage District Aug 30, 2007 $1,965,000 Howland Drain Bonds, Series 2007 (book entry). Dated Sep 1, 2007. Due Jun 1, 2008 to 2012. Non-callable. Winning bid: Hutchinson Shockey, at n/a,...

Long-Term Bond Sales: January-August.
September 4, 2007... 2007 2006 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $289,365,800 8,291 $238,898,000 8,199 +21.1 % January 31,227,200 851 18,784,200 721 +66.2 February ...

New-Issue Volume Notes.
September 4, 2007... The new-issue volume tables are based on information compiled by The Bond Buyer from Thomson Financial's database on Friday, June 29, 2007. All figures are preliminary and subject to revision. Long-term bonds have final stated maturities of...

Bond Sales by State: January-July.
September 4, 2007... 2007 2006 Volume Volume Percentage State Rank (000s) Rank (000s) Change Alabama 18 $3,894,800 29 $1,972,900 +97.4 % Alaska 40 1,131,100 38 1,123,500 +0.7 Arizona 16 5,350,600 20...

Largest Issues: August 2007.
September 4, 2007... Amount Issuer Date $1,107.1 Massachusetts (Commonwealth), general purpose GOs Aug 8 1,000.0 Los Angeles Unified School District, Calif., GOs (NM/ref) Aug 1 725.0 San Jose, Calif., airports (ref) (AMT/TE) Aug 23...

Long-Term Bond Sales: August.
September 4, 2007... 2007 2006 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $27,167,300 860 $31,647,200 1,133 -14.2 % Development 278,000 30 271,500 39 +2.4 Education 6,406,500...

Market Indicators.
September 4, 2007... Dollar amounts are in millions Day's 2007 2007 DailyYesterday Change High Date Low Date Municipal Bond Index 110-18-1/32 117-29 (2/27) 107-26 (8/24) 40 Average Dollar Price 99.46 -0.01 102.06 (2/27)...

Municipal Market Data General Obligation Yields.
September 4, 2007... Aaa Aaa (pure) (ins) Aa A Baa 2008 3.60 3.65 3.64 3.73 3.92 2012 3.62 3.72 3.71 3.83 3.98 2017 3.96 4.08 4.06 4.23 4.40 2022 4.30 4.42 4.40 4.59 4.79 2027 4.47 4.59 4.57 4.79 4.99 ...

Short-Term Tax-Exempt Yields.
September 4, 2007... Aug 31, 2007 Aug 30, 2007 Sep 1, 2006 Selected MIG-1/SP-1+ Notes Los Angeles Co Trans 4.50s (June 08) 3.56 3.55 3.40 Michigan GO 4.25s (Sept 07) 3.66 3.78 n.a. Texas Trans 4.50s (Aug 08) 3.65 3.65 3.56...

U.S. Securities Prices.
September 4, 2007... Prices as of 3 p.m. ET. Source: GovPx (ICAP plc) Treasury Bills Yesterday's Prev. Day's Yesterday's (in percent of discount) Bid/Offer Bid/Offer Bid Yield 1M - 9/27/2007 4.088/078 3.920/610 4.167 3M -...

New-Issue Balances.
September 4, 2007... (,000 Omitted) *Since initial reoffering +Revised upward since last report Amount Date RECENT OFFERINGS Sold Balance $10,525 8/15 Green Co. Sch. Dist.Corp., Ky. $4,920 All Sold 37,000 8/29 Tooele Co. Sch....

Reoffering Yields.
September 4, 2007... 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 (Pure) 7/24 15.6 Cherry Hill Twp. Comms. Fire Dist., N.J. ... ...

Visible Supply.
September 4, 2007... Competitive Negotiated Total ($000s) ($000s) ($000s) Weekly Averages 8/31/07 1,736,068 10,874,672 12,610,740 8/24 1,262,125 13,635,406 14,897,531 8/17 1,990,956 11,320,977 13,311,934 8/10 1,924,173...

Municipal Market Yields.
September 4, 2007... Values at 8/31/2007 - Basis Point Change from 8/24/2007 Aaa Aa A Baa 20083.62 +05 3.77 +06 4.02 +07 4.32 +07 20123.76 +07 3.91 +08 4.16 +09 4.46 +09 20174.04 +08 4.21 +09 4.50 +10 4.82 +10 20224.32...

Placement Ratio.
September 4, 2007... No. Total Amt. Sales from Placement New New Accts. New Accts. Ratio Accts. ($000s) ($000s) (%) 2007 08/31 8 228,653 224,368 98.1 08/24 9 418,721 414,911 99.1 08/17 20 1,358,936 1,321,631 97.3 ...

Municipal Bond Prices.
September 4, 2007... These 40 Bonds are evaluated and priced daily by Standard & Poor's Securities Evaluations Inc. All figures are rounded to the nearest eighth when reported in this table. "Change in Bid" is rounded after calculation. Dollar...

Municipal Bond Index.
September 4, 2007... Current Day Previous Day Week Ago Month Ago Year Ago The Bond Buyer Municipal Bond Index 110-18 110-19 107-26 112-14 115-13 Friday, August 31, 2007 Maturity Par Call Dollar Conversion Converted Date Date Price...

Municipal Bond Index Update.
September 4, 2007... The list of bonds used to calculate the Municipal Bond Index was be revised after the August 31 pricing. The new coefficient is 1.0179. It was derived by dividing the August 31 index (110.561785) by the average converted price of the new...

District Court Judge to Decide Fate of St. Paul Port Authority's Liquidation Plan.
September 4, 2007... CHICAGO -- A Ramsey County District Court judge will hold a hearing next week on the St. Paul Port Authority's proposal to terminate its 876 Bond Fund, liquidate its pledged assets, and distribute the proceeds to the remaining investors with...

Wednesday.
September 5, 2007... Regions ECONOMIC development opportunities are the focus for Sacramento as it seeks proposals for investment banking and advisory services, said Treasurer Thomas Friery. 3 AFTER CONDUCTING a broader search for an investment banking...

Deal in Focus: Illinois House Rejects Transit Bill for Now.
September 5, 2007... CHICAGO -- With service cuts and fare increases set to take effect later this month, the Illinois House yesterday rejected a transit package that included a sales tax increase to provide the state's Regional Transportation Authority with an...

N.Y. Adjusts Pension Formula: DiNapoli: Employers To Contribute Less.
September 5, 2007... New York Comptroller Thomas P. DiNapoli yesterday announced that he would lower employer contribution to the state's $154.5 billion pension fund in fiscal 2009 due to returns that exceeded targets. The Common Retirement Fund, of which the...

Billionaire's Power Play: Pickens Gets Nod for Water, Power Plans.
September 5, 2007... DALLAS -- A small group of Texas voters will decide in November whether oil billionaire T. Boone Pickens can use tax-exempt bonds to channel underground water and wind-generated electricity from a sparsely populated region of the Panhandle to...

In Brief: Construction Spending Dips 0.4% to $1.169 Trillion.
September 5, 2007... Spending on construction projects fell 0.4% to a seasonally adjusted annual rate of $1.169 trillion in July, as private construction decreased 0.7% and public construction rose 0.7%, according to Commerce Department data. The overall...

In Brief: August ISM Index Drops to 52.9 From 53.8.
September 5, 2007... The overall economy grew for the 70th straight month, while the manufacturing sector expanded for the seventh time in a row, the Institute for Supply Management reported yesterday. According to the ISMs monthly report on business, the ISM...

In Brief: Weekly T-Bills Go At 4.350%, 4.380% Highs.
September 5, 2007... Tender rates for the Treasury Departments latest 91-day and 182-day discount bills were down from last week, as the three-months incurred a 4.350% high rate yesterday, down from 4.600%, and the six-months incurred a 4.380% high rate, off from...

In Brief: Treasury 4-Week Bills To Pay Down $3B.
September 5, 2007... The Treasury Department yesterday announced it will sell $25 billion of four-week discount bills today to pay down $3 billion and refund $28 billion of maturing bills. (c) 2007 The Bond Buyer and SourceMedia, Inc. All rights reserved....

Munis Unchanged, But Tone Is Firmer.
September 5, 2007... The municipal market was unchanged with a firmer tone yesterday, as participants eased themselves back from a long holiday weekend. Its real slow, a trader in Los Angeles said. There was a little activity in morning. It looked to me like...

Sacramento Issues RFP for City's Underwriting Business.
September 5, 2007... SAN FRANCISCO -- Economic development opportunities are the focus for Sacramento as it seeks proposals for investment banking and advisory services, said Treasurer Thomas Friery. The city has requested for proposals in order to select its...

Orlando Gets 33 Responses to RFP for Entertainment Venues.
September 5, 2007... BRADENTON, Fla. -- After conducting a broader search for an investment banking team, Orlando received responses from 33 firms interested in helping sell $770 million of bonds to cover part of the $1.1 billion cost of three entertainment venues....

Legislation: Congress Expected to Take Up Internet Tax Ban in Multiple Bills.
September 5, 2007... The debate over how to go about extending the ban on taxing Internet access - an action that could potentially impact state and local revenues - is expected to heat up as Congress reconvenes this month. The ban, which prevents state and...

Fund Management: Lord Abbett, First Investors to Merge State-Specific Funds Into National One.
September 5, 2007... Lord Abbett & Co. and First Investors Inc. are planning to merge several of their state-specific funds into national ones, according to filings with the Securities and Exchange Commission. Lord Abbett is asking shareholders to approve a...

D.C. Mayor Fenty Criticized Over Opting Out of Poplar Point Project.
September 5, 2007... WASHINGTON -- District of Columbia Council member Marion Barry yesterday criticized Mayor Adrian Fenty's decision to pull out of a proposed development plan for the 110-acre site known as Poplar Point, a region whose development would likely be...

New Mexico Unveils Details on $200M Spaceport America.
September 5, 2007... DALLAS -- The newly unveiled design of the main complex at New Mexico's Spaceport America incorporates features of the stark desert terrain with efforts to conserve energy at the facility some 45 miles north of Las Cruces. New Mexico will...

Midwest Invisible Supply.
September 5, 2007... Approval Underwriter Expected Issuer and purpose Amount* status choice sale date ILLINOIS Chicago OHare rev. bonds $1000 A Lehman 2007 State Toll Highway Authority $700 P negotiated summer Advocate...

Visible Supply by State.
September 5, 2007... Sept. 4, 2007 Aug. 28, 2007 State Issues Amount Issues Amount Chg in Amt Illinois 9 $350,400,000 9 $422,890,000 -$72,490,000 Indiana 0 0 1 4,550,000 -4,550,000 Iowa 5 63,195,000 1 1,545,000 61,650,000 ...

Plain/Insured GO Yield Curves for Aug. 31, 2007*.
September 5, 2007... State Ratings One-Year Five-Year 10-Year 30-Year Missouri Aaa/AAA/AAA 3.62 / 3.60 3.65 / 3.69 3.99 / 4.06 4.62 / 4.69 Minnesota Aa1/AAA/AAA 3.61 / 3.65 3.66 / 3.72 4.00 / 4.06 4.65 / 4.69 Ohio Aa1/AA+/AA+ 3.65 /...

ILLINOIS: Cigarette Tax Hike Awaited.
September 5, 2007... The DuPage County Board may consider legislation allowing the county chairman to delay unveiling a proposed budget for 2008 as officials await Illinois General Assemblys consideration of a measure that would give the county the ability to levy...

ILLINOIS: Chicago Teachers Reach Pact.
September 5, 2007... The Chicago Board of Education and Chicago Teachers Union last week announced that they had reached a tentative agreement on a new contract. The five-year deal includes 4% annual raises and ensured that schools would open on time yesterday....

ILLINOIS: ISAC Closes $1B Sale.
September 5, 2007... The Illinois Student Assistance Commission last week announced that it had closed on the sale of $1.03 billion of its student loan portfolio to National Education Servicing LLC. ISAC will use proceeds of the sale, plus additional revenues,...

INDIANA: S&P Drops Fayette Debt.
September 5, 2007... Standard & Poors last week knocked the Fayette County Building Corp.s first mortgage bonds issued for Fayette County out the single-A category, lowering the credit to BBB-plus from A-minus. The agency also removed the provisional...

MICHIGAN: Clark Retirement Negative.
September 5, 2007... Standard & Poors last week affirmed its BBB-minus rating assigned to the Michigan Strategic Funds issues for Clark Retirement Community Inc. and revised its outlook to negative from stable. The action affects $22.8 million of bonds sold in...

MISSOURI: State Wins School Ruling.
September 5, 2007... The states method for funding public education was largely affirmed last week in a partial ruling from a Cole County judge who rejected the arguments presented by more than 200 school districts that contend the funding procedures violate...

WISCONSIN: Power Plant Challenged.
September 5, 2007... A group that opposes a new $115 million, partially bond-financed ethanol plant in Sparta have raised enough signatures that could force a referendum on the issue. The group, Friends of Sparta, collected nearly 800 signatures requiring the...

Competitive Bond Offerings.
September 5, 2007... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com A letter "P" signifies that a link to the POS is on the Bond Buyer Online's Competitive Bond Offering Calendar....

Competitive Note Offerings.
September 5, 2007... Tentative dates for negotiated sales of $1 million or more. Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com A letter "P" signifies that a link to the POS is...

Negotiated Bond Offerings.
September 5, 2007... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of September 3 ...

Negotiated Note Offerings.
September 5, 2007... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of September 3 Calexico...

Results of Negotiated Sales.
September 5, 2007... CALIFORNIA El Rancho Unified School District Aug 29, 2007 $15,155,000 General Obligation Bonds, Election of 2003, Series 2007 (book entry) $2,930,000. Dated Sep 11, 2007. Due Aug 1, 2009 to 2027. First coupon Feb 1,...

Municipal Bond Elections.
September 5, 2007... This table lists bond elections involving $500,000 or more and gives the dates when the voters are scheduled to cast their ballots (,000 omitted). * New in Calendar Tuesday, September 11, 2007 $19,500 Hastings ISD #200, MN ...

Results of Competitive Sales.
September 5, 2007... KANSAS Gardner (City) Sep 4, 2007 $13,370,000 General Obligation Temporary Notes, Series 2007B (book entry). Dated Sep 15, 2007. Due Oct 1, 2008 to 2009. Callable Oct 1, 2008 at par. Winning bid: Commerce Bank,...

AIM Investments Reopening Its High Income Muni Fund.
September 5, 2007... AIM Investments is reopening the AIM High Income Municipal Fund to new investors by offering new shares later this month to take advantage of the high-yield muni market, the company announced yesterday. From Sept. 10 through Sept. 21, the...

Market Indicators.
September 5, 2007... Dollar amounts are in millions Day's 2007 2007 DailyYesterday Change High Date Low Date Municipal Bond Index 110-19+1/32 117-29 (2/27) 107-26 (8/24) 40 Average Dollar Price 100.34 +0.88 102.06...

Municipal Market Data General Obligation Yields.
September 5, 2007... Aaa Aaa (pure) (ins) Aa A Baa 2008 3.60 3.65 3.64 3.73 3.92 2012 3.62 3.72 3.71 3.83 3.98 2017 3.95 4.07 4.05 4.22 4.39 2022 4.29 4.41 4.39 4.58 4.78 2027 4.47 4.59 4.57 4.79 4.99 ...