Markets

Demand for municipal bonds fell modestly for the week of March 27, as the market saw outflows to muni bond mutual funds for the fourth straight week, at $43 million.

Tax-exempt money market experienced a week of net losses as $1.79 billion fled the industry and total net assets settled at $274.86 billion in the week ending March 25.

Though analysts and municipal managers said Tuesday's Standard & Poor's downgrade of the Puerto Rico Aqueduct & Sewer Authority was widely expected, the cut — the second experienced by one of the commonwealth's issuers in as many weeks — means more stress and concern for Puerto Rico bond holders, and could likely lead to less liquidity, wider spreads, and consequently, costlier trips to market.

Most non-profit hospitals are expected to find the 2% Medicare reimbursements cuts that take effect Monday manageable, Fitch Ratings says in a new report.

The Bond Buyer's weekly yield indexes were flat to lower the week ended March 27.

A solid base in city and regional economic forecasting and planning laid an atypical foundation for Michael Brooks, senior portfolio manager at AllianceBernstein, to build a career in municipal bonds.

A bankruptcy court hearing is slated next week on settlement agreement between American Airlines Inc. and holders of its $1.4 billion of New York City airport debt.

Automated programs for the bidding process haven't transformed trading in the municipal bond market as they have in equities, but they've been making noticeable inroads in the past few years.

Municipal market issuers have noticeably scaled back new financings this Good Friday holiday shortened week, giving the market a chance to catch its collective breath after digesting a recent glut of new volume.