Markets

DBC software, which is now used for structuring roughly 90% of the annual negotiated municipal bond underwriting in the U.S., said it recently filled out a client list that includes the top-30 largest underwriters by volume in the marketplace.

The stage is set for another large and eventful week as issuers in California and Florida are preparing to thunder into the market with a pair of $2 billion deals that will share the new-issue spotlight after last week's well-received flurry of volume amid late week gains and bankruptcy news out of Stockton, Calif.

The municipal market has had a stronger week, overall. But it appears as though demand has yet to reflect that fact, with Lipper FMI reporting $278 million of outflows to muni bond mutual funds for the week ended April 3.

In what could have appeared as an April Fool's joke, but was rather a coincidence, tax-exempt money market funds lost $1.79 billion in the week ended April 1 -- the exact same amount they lost in the prior week.

After wrapping 4 bond issues in 2012, Build America Mutual Assurance Corporation has seen a significant increase in business during the first quarter of 2013, insuring 114 transactions.

Eaton Vance moved one step closer to offering a non-transparent, actively managed municipal exchange-traded fund.

Standard & Poor's has proposed new criteria for rating affordable multifamily housing bonds, which could result in downgrades of 10% of rated issues.

Municipal bond issuance tumbled for a second straight month on far fewer deals for less money. Long-term muni volume fell 12% in March against the same period one year earlier.

A pair of large state general obligation offerings will pump a generous amount of new volume into the municipal market this week where more than $4 billion in new volume is expected to be priced on the heels of a brisk, and mostly stronger holiday-shortened trading session last Friday.