Markets

The $1.8 billion Jefferson County, Ala. Sewer warrant deal raised eyebrows on Friday when it thundered into the market for the first day of its retail order period where yields on some of the subordinated debt were offered at close to 8%.

The tax-exempt market ended firmer for the week as investors put in more orders for bonds than were available on deals in the primary market. The secondary was firmer as the week progressed with dealers unloading balances from deals to customers at higher prices.

As Jefferson County, Ala., began to sell sewer warrants on Friday, analysts said they remained concerned about the rate increases needed to repay the debt.

Bill de Blasio's budget proposal about a month into his tenure could provide a window to investors anxious to see how New York's new mayor will handle finances.

The Puerto Rico Treasury is taking a variety of steps to crack down on tax evasion, including hiring 195 professionals to crack down on the practice.

The Bond Buyer's weekly yield indexes rose the week ended Nov. 14.

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.

Fitch Ratings placed the BBB-minus rating of Puerto Rico's general obligation bonds on rating watch negative, citing in part concerns about market access.

The proposed merger of US Airways Group and American Airlines could be bad news for smaller airports as the combo unit gives up gates at major hubs, Moody's says.

The total net assets of tax-exempt money market funds declined by $1.32 billion to $263.26 billion in the week ended Nov. 11, as they gave up most of the prior week's gains.