Markets

Investors, still high on the muni market, continue to allocate money to municipal bond mutual funds, to the tune of $545 million.

Lipper has revised its weekly municipal bond fund flows lower for the week ending Nov. 21 after an error with Goldman Sachs led the company to report higher flows.

Only seven state pension systems can lay claim to a strong 90% funded ratio while at least 21 states manage systems that fall below a "fiscally sound" threshold of 70% funded, Morningstar writes.

Charles Schwab announced Monday that it has joined with Piper Jaffray to provide clients access to Piper Jaffray's new issue municipal bonds through Schwab's BondSource® Platform.

A fairly brisk new-issue calendar will usher in the last week of the November – highlighted by an $800 million Florida aviation offering – and municipal players say the deals will satisfy post-holiday demand on the heels of dwindling supply last week.

Tax-exempt money market funds were boosted by $3.68 billion of inflows – one of the single highest weekly increases of the year – as assets swelled to $271.78 billion in the week ended Nov. 19, according to The Money Fund Report, a service of iMoneyNet.com.

A Chicago-based broker dealer has launched an electronic platform executives say will help ensure new-issue municipal bonds reach retail investors efficiently and at fair prices.

The municipal bond market will enter the Thanksgiving holiday from a position of strength. Muni bond indexes heading into the holiday fell on all but the short end to levels not seen in more than 47 years.