Markets

Municipal bond funds reported inflows for the 10th straight week, according to Lipper data released on Thursday.

Moody’s Investors Service gave stable outlooks to the state and local government sectors for 2016.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell three basis points to 4.27% in the week ended Dec. 3 from 4.30% in the prior week.

Municipal investors said Puerto Rico’s $355 million Government Development Bank note payment and claw-back debt management plan did little to resolve the island’s debt crisis.

A legal opinion defining San Diego Unified School District bonds as special revenues was credited with the district's $470 million pre-Thanksgiving general obligation bond sale being oversubscribed.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell five basis points to 4.30% in the week ended Nov. 24 from 4.35% in the prior week.

Rhode Island selected Invesco and Ascencus to manage its $7 billion CollegeBoundfund 529 program, replacing AllianceBernstein.

Municipal bond funds reported inflows for the seventh week in a row, according to Lipper data released on Thursday.

In the week ended Nov. 19, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell to 4.35% from 4.38% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Municipal market trading plummeted to $551 billion in the third quarter, the lowest level since at least 2005 when the Municipal Securities Rulemaking Board began recording the statistics, according to the board.