James Ramage

John L. "Jack" Kraft, bond counsel attorney for more than 45 years, has played a key role in establishing the bond counsel business in New Jersey, handled some of the state's most significant bond deals, and been at the forefront of defending the tax-exemption for municipal bonds.

Underwriters should price an estimated $11.33 billion of long-term supply in what is likely the last significant calendar of 2013.

Robust employment numbers, modest activity and a sluggish tone all combined to yield a mixed picture of the municipal market Friday.

Municipal bond investors and traders are mostly holding their positions on light activity Friday as they prepare for next week's anticipated uptick in volume.

Munis largely sidestepped a stronger-than-expected unemployment report and mixed Treasuries to perform modestly Friday morning.

The municipal bond market paddled against stronger-than-expected economic currents and weaker Treasuries Thursday, with yields losing some ground on the longer end.

A somewhat weaker tone pervades the municipal market Thursday as the remainder of the week's issuance arrives.

Municipal market participants face a full day of deals, but stronger than anticipated economic news and weaker Treasuries have led to light activity in the secondary market to start the day.

Lebenthal & Co. said it will begin trading on MuniAxis, its new platform for odd-lot municipal bond transactions, as the market opens on Dec. 12.

Strong economic news, light activity and a fade in Treasuries hamstrung the municipal market Monday.

The municipal market is struggling to tread water Monday as light new-issue volume battles against fading Treasury yields to provide direction.

Yields in the municipal market have started Monday somewhat weaker as they search for traction.

Municipal bond mutual funds recorded outflows for the 26th straight week, at $770 million, numbers from Lipper FMI showed.

Long-term muni funds are having their worst year since 2008, as rising interest rates and headlines about Detroit's bankruptcy filing and Puerto Rico's fiscal problems fueled outflows of investor money.

Investor demand for municipal bond mutual funds remained sluggish for a 25th straight week, with outflows of $903 million for the week of Nov. 13.

Investors in municipal bonds are mostly pleased that hedge funds have increased their bets recently in distressed state and local government debt.

Municipal bond mutual fund flows remained solidly in the red for a 24th straight week, with outflows of $738 million.

Joseph J. Roberts, a director of institutional sales at M&T Securities Inc., has decided to step down at the end of 2013 following a 48-year career in the financial markets, mostly in the municipal bond industry.

Brownstone Investment Group, a fixed income investment firm, brought aboard former Morgan Stanley trader Matthew Martines as managing director to expand its municipal bond trading and electronic market-making units.

Tradeweb Markets completed the purchase of BondDesk and rolled out its rebranded retail group, called Tradeweb Direct.