Dan Seymour

Cash continues to run off the sidelines as investors lose patience with the minuscule returns offered by short-term safe havens.

State and local government tax receipts plunged again in the third quarter as municipalities continued to feel the squeeze from shrinking incomes and tepid sales.

Insurers roared back to profitability in the third quarter, possibly bolstering a pillar of buy-side support for tax-exempt municipal bonds.

Money market funds coughed up more cash last week as investors continued to embrace risk amid signs of a stabilized economy.

One of the craziest, most transformative years ever in state and local government finance will end with a whimper this week. Municipalities are slated to sell just $74.1 million of bonds this week, according to data from The Bond Buyer and Ipreo LLC, after having floated $611.7 million last week.

Although Bank of America Merrill Lynch does not foresee municipals repeating this year's performance in 2010, the bank's strategists see a few prominent roles for municipals in their main investment themes for the year.

Municipal bond mutual funds keep garnering new money at a steady clip as investors continue to grow bored waiting on the sidelines.

Now that Assured Guaranty Ltd. has cemented a monopoly in bond insurance, it has done what any other monopolist would do: raised prices.

Is it dangerous for a municipality to talk about filing for bankruptcy protection? Standard & Poor's says no. Talk about it all you want. Just don't do it.

Federal stimulus money is keeping states spending even as most sources of revenue dry up. In its annual report on state expenditures, the National Association of State Budget Officers estimated states spent $1.593 trillion in fiscal 2009, which for most states ended June 30.

Municipal Market Data's TM3 Web site implemented a number of changes yesterday to cope with a rapidly shifting landscape in municipals.

Investors who own bonds floated by public power utilities are political junkies by necessity, a new report says.

The tide of money washing into municipal bond mutual funds picked up again last week, offering hope that mutual funds will continue to provide a pillar of support to municipals.

The municipal bond industry might be catching an early glimpse into what the “new normal” will look like.

Phil Fischer, for decades one of the predominant voices in public finance, is retiring.

NEW YORK - Phil Fischer, for decades one of the predominant voices in public finance, is retiring.

In raising more cash to placate the rating agencies, Assured Guaranty Ltd. also pleased bondholders.

Reality has set in for municipal closed-end funds. And reality is not so bad.

Each passing week confirms the “new normal” in municipal bond mutual funds.

The technicals and the fundamentals are at war.