Markets

Sales of municipal bonds in the Far West region grew by almost 11% during the first half of 2013 compared to a year earlier as low rates continued to drive volume.

The credit ratings of 15 California transit agencies are on review for downgrade by Moody's Investors Service because the Obama administration is challenging changes to state pension law.

With the recent increase in interest rates, the de minimis risk grows for municipal bond investors.

John Donaldson, director of fixed income at Haverford Trust, favors high-quality bonds with strong claims-paying ability and widespread credit diversification in the intermediate slope of the curve.

Fitch Ratings stripped Wayne County, Michigan's general obligation ratings of their investment grade over the county's rapidly deteriorating fiscal condition, in a five-notch superdowngrade.

The Justice Department and attorneys general from six states and the District of Columbia moved to block bankrupt American Airlines' proposed merger with US Airways under federal antitrust laws.

The Michigan Finance Authority will sell $92 million of state aid revenue notes for the Detroit Public School District next week in the first market offering to carry the Detroit name since the city's bankruptcy filing.

Lebenthal & Co., LLC, next month will introduce MuniAxis to improve liquidity for trading odd-lot municipal bonds in the secondary market.

On the heels of a mostly steady to stronger tone and brisk demand for deals last week, the municipal market is anticipating the arrival of a $5.5 billion California revenue anticipation note deal this week as well as more than $4 billion in new long-term paper -- all of which should see strong demand, municipal experts said.