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Discloses that Los Angeles County is launching the first lease-backed commercial paper program undertaken by a California county. Use of proceeds of the issuance to refund existing bond anticipation notes; Growing interest of municipal governments in commercial paper; Unique features of the Los Angeles County program.

Presents statistics on the performance of bond market indicators in the United States as of July 2, 1997. Short-term tax-exempt yields; New-issue balances; Futures markets; Municipal Market Data general obligation yields; Reoffering yields.

Lists the results of negotiated sales by agencies in the United States of their municipal bond floatation. Includes Arizona's Yuma County Airport Authority; California Pollution Control Financing Authority; Michigan Public Power Agency; Philadelphia School District.

Presents news items about municipal bonds in Florida. Implications of the decision of Tampa General Hospital's board of trustees to approve the lease the publicly owned facility to a private nonprofit corporation; Revamp at Miami's Finance Department; Dade County's commercial paper program.

Reports that BankAmerica Securities Inc.'s aggressive bid to win $47 million of San Francisco, California's general obligation bonds had nothing to do with a lawsuit it faces in connection with trustee services to the city. Bids of other investment banks to the issue; Allegations of mismanagement in the corporate trust business; Sale of the business to First Trust.

Presents charts and graphs on municipal bonds in the United States. Includes yields on short-term tax-exempt bonds; US securities prices; Supply of bonds; Reoffering yields; Daily basis spreads of municipal bond index; Municipal bond prices; Bond Buyer indexes.

Reports on the difficulties in Washington D.C.'S budget process. Political aspect of the city's financial system; Bidding for the city's general obligation bond sale; Credit rating of the bonds; Efforts to balance the city's budget; Revenues and expenditures forecast from 1996 to 2001.

Reports on Ziegler Securities' efforts to have not-for-profit senior living organization credit rated. Investment-grade rated senior living bonds in the United States; Use of due diligence and financial surveillance to market new issues.

Recommends various municipal bond issues in the United States. Includes the Washington Suburban Sanitary District; St. Mary's College; Floating rate issues of the state of Massachusetts; Justification for their high credit ratings.

Reports on the issuance by the Delaware Valley Regional Finance Authority of bonds linked to the United States consumer price index (CPI). Use of interest rate swap to avoid assuming CPI liability; Investors' reception of the CPI-linked bonds; List of previous CPI bond issues.

Reports on California Housing Finance Agency's plans of initiating a retail order period on $226 million insured home mortgage revenue bonds. Implications of a broad market price rally; Expected money to be raised by the deal.

Reports on the implications of the prospect of a capital gains tax on tax-exempt bond funds in the United States. Impact on the de minimis rule; Regions offering municipal investors solid opportunities.

Reports on developments related retail trade investing in the United States as of July 8, 1997. Factors affecting Texas investors to extend maturities; Texas investors' selection of smaller deals; Investors' purchase of secondary local credits in the 25- to 30- year sector in Oklahoma.

Reports that the Fort Worth City Council has tentatively approved a February 14, 1998 bond election to ask voters for authorization of up to $120 million of general obligation debt.

Presents a chart reflecting short-term tax-exempt yields in the United States as of July 8, 1997. Selected MIG-1 notes; Municipal market data.

Looks at municipal bond trading in the United States as of July 8, 1997. Refunding deal from the Sacramento Municipal Utility District as the largest negotiated tax-exempt sale; Pricing of bonds; Bond yields; Institutional and arbitrage investors as the reason behind aggressive trading in the new-issue market.

Reports on Las Vegas Valley Water District's call for proposals from securities firms interested in providing dealer services for a tax-exempt paper program to be used in the ongoing capital construction program of the Southern Nevada Water Authority.

Looks at developments concerning municipal bond trading in the United States as of July 9, 1997. Low municipal bond yields; Trend of shortening maturities among retail investors in the Midwest; low level of interest in insured revenue bonds.

Presents a chart on short-term tax-exempt municipal bond yields in the United States as of July 7, 1997.

Presents statistics on the bond market in the United States as of July 10, 1997. Municipal bond index; Short-term tax exempt yields; Municipal market data general obligation yields; US securities prices options on municipal futures; Daily trading ranges of municipal bond index futures.

Presents briefs from the municipal bond market in the United States, compiled as of July 11, 1997. Includes California's sale of $700 million to $1 billion worth of general obligation bonds and $3 billion of revenue anticipation notes; Development of a plan for bond issuance to pay for storage tank cleanup in Florida; Refunding deal planned by Orange County, Florida to hit the competitive market on July 22.

Reports on developments concerning the municipal bond market in the Far Western United States, compiled as of July 11, 1997. Includes news on strong demand for bond insurance and double tax exemption; Bonds in demand; Yield curve for the $3.6 million Utah State Board of Regents revenue series; Sale of Idaho Housing and Finance Association's $30 million issue.

Focuses on state officials's warning of potentially fraudulent secondary market trading practices that could result from proposed changes to California's Mello-Roos Community Facilities Act to allow property owners to tender bonds in payment of delinquent taxes. Concerns raised by the California Debt and Investment Advisory Commission over the changes; Arguments raised by the bill's supporters.

Presents data on the municipal bond market in the United States, compiled as of July 11, 1997. Market indicators; Short-term tax-exempt yields; Municipal market data general obligation yields; Government securities prices; State and local government series rates; Visible supply rises; New-issue balances; Reoffering yields; Futures markets; Municipal bond index; Municipal bond prices; Bond buyer indexes.

Reports on developments in bond issues in the United States, compiled as of July 14, 1997. Placement of $31 million-worth of orders by California retail investors of Los Angeles Unified School Districts general obligation bonds on July 10; $22.1 million offering by Princeton University in New Jersey; Competitive issues for Texas investors.

Presents quotations for short-term tax-exempt yields for municipal bonds in the Unite States, compiled as of July 11, 1997.

Focuses on the performance of the tax-exempt bond market at the end of trading on July 14, 1997. New York Metropolitan Transportation Authority's push for the sale of refunding bonds a day earlier than scheduled; Tentative total of the refunding issue; General obligation sale from the Los Angeles Unified School District, lead managed by BancAmerica Securities Inc.

Focuses on New York resident Robert Schulz's argument that New York City and the Transitional Finance Authority (TFA) should not be included as defendants in his lawsuit against the constitutionality of TFA. City's claims that it needs the TFA in order to avert a financing crisis; Abrogation of the act that created the authority; Debt-limiting provisions of the state constitution.

Focuses on the turnaround of municipal funds in the American during the second quarter of 1997. Total return of Smith Barney Inc.'s Managed Municipals Fund under manager Joe Deane; Eaton Vance Management's $87.2 million Municipal Bond LP Fund; Dick Berry's management of AIM Advisors Inc.'s $313.9 million Municipal Bond Fund; Defensive posture taken by Stamper Capital & Investment's Davis Tax-Free High-Income Fund.

Reports on the concerns of some managers of insured funds that the bond fund market may be reaching saturation. Opinion of Franklin Advisers Inc. vice president and senior portfolio manager Don Duerson and American Express Financial Advisors insured fund manager Paul Hylle; Pressure on fund managers to buy insured debt; Inability of general market managers to use their analysis skills to find value in uninsured bonds.

Reports on the decision of lawyers for New York City and its Transitional Finance Authority (TFA) not to file additional motions to allow them to become defendants in Robert Schulz's challenge to the constitutionality of the agency. Argument presented by city and authority officials to justify that they are necessary parties to the lawsuit; Creation of the TFA by the New York Legislature to issue tax revenue bonds.

Presents statistics on the bond market in the United States as of July 15, 1997. Short-term tax-exempt yields; Securities prices; Merrill Lynch corporate bond indexes; Municipal market data general obligation yields; Municipal bond prices.

Reports on the competition among traders for the Illinois competitive sale of $100 million of general obligation bonds.

Reports on investors' reception of the municipal bond issuance of Virginia's Dinwiddie County. Rationale behind the coupon rate, rating and yield; Appointment of Wheat First Butcher Singer investment bank as underwriter; Placement of orders by retail investors.

Presents charts and graphs of municipal bonds in the United States. Short-term tax-exempt yields; US securities prices; Municipal market data general obligation yields; Reoffering yields; Supply of bonds; Bond futures markets; Municipal bond index and prices.

Details the strategy of Walter Beveridge and John Bonnell, two municipal money fund managers in the United States, in purchasing municipal bonds. Beveridge's claim that the first deal or two out of the chute as the cheapest; Pattern of pricing for 1997; Bonnell's preference to wait for the best deal in the year.

Reports on the low level of trading in one-year notes in the short-term municipal bond market in the United States as of July 18, 1997. Unattractive offered yields as the reason for this trend; Limitation of participation in the tax-exempt short-term market to municipal money funds.

Looks at municipal bond trading in the western region of the United States as of July 18, 1997. Performance of the Los Angeles Unified School District; Longer special-situation bonds as hot ticket items in Oregon; Sluggish nature of demand in the state of Arizona.

Reports that state officials in Utah has advanced the sale schedule of $205 million of general obligation bonds on August 5, 1997. Planned used of funds generated from the sale to finance road improvement in the state; State government's launching of its first commercial paper program.

Presents charts and graphs concerning municipal bonds in the United States as of July 17, 1997. Includes a forecast on municipal market data general obligation yields from 1998 to 2027; Prices for Treasury bills, notes and bonds and municipal bonds; Futures trading in municipal bonds; Yields for short-term tax-exempt municipal bonds.

Reports on Oklahoma's plans to sell pension bonds as part of an effort to provide financial assistance to the Teachers Retirement System of Oklahoma (TRSO). Unfunded liability of the teachers' retirement fund; Inspiration from the success of New Jersey's pension bond issue; Other options considered by state officials to solve the TRSO's financial woes.

Focuses on activities in the municipal bond market in July 1997. New York City's competitive general obligation deal; General obligation offering for the Steilacom School District No. 1 and a general obligation refunding for the Bethel School District No. 403 in Seattle, Washington; Nebraska Educational Finance Authority's financing for Creighton University at Omaha.

Presents statistics on municipal bonds as of July 18, 1997. Market indicators; Short-term tax-exempt yields; Securities prices; Municipal Market Data general obligation yields; Municipal market yields; Futures markets; Visible supply rises; New-issue balances; Reoffering yields.

Reports on the market performance of prerefunded municipal bond issues in Massachusetts, for the year ended June 30, 1997. Total yields; Major fund gainers and losers; Performance of major municipal funds; Stability of the market.

Presents news briefs related to the bond market in Texas, as of July 22, 1997. Includes Texas Public Finance Authority's selection of Raymond James & Associates as winning bidder on a lease revenue bond deal; Moody's Investors Service's placement of Plano's Aa2-rated general obligation bonds on its watch list; Agreement between Harris County and Houston with Astros owner Drayton McLane.

Presents bond market statistics in the United States, as of July 22, 1997. Includes market indicators; Tax-exempt yields; Bond futures markets.

Reports on Midwest retail investors' spending of their available cash in the primary market due to recent decline in municipal rates. Avoidance of Detroit investors to long-term interest rate risk; Provision of general attraction to investors to double-A rated bonds in Arlington Heights,III, general obligation offering.

Reports on the University of Michigan's sale of $29.6 million of commercial paper notes which was the first in $120 million program for the Ann Arbor-based institution. Interest rates of the notes; Management process of the commercial paper notes; Rates given to the paper by the rating agencies; Anticipated selling costs of commercial paper notes for the succeeding 18 months.

Presents information on the bond market performance in the United States as of July 22, 1997. Includes short term-tax exempt yields; US securities prices; Municipal market data general obligation yields; Reoffering yields; Futures markets; New-issue balances.

Presents charts and graphs of municipal bonds in the United States. Includes short-term tax-exempt yields; US securities prices; One-year note index; Reoffering yields; Futures markets; Daily trading ranges of municipal bond index futures; Municipal bond index and prices.