Markets

PFM Group announced last week that Robert W. Crispin, the former chairman and chief executive of ING Investment Management Americas, has joined its board of directors.

The exodus of cash from municipal bond mutual funds has slowed down as the November spike in yields attracted buyers back into the market, following a few frightening weeks of outflows.

In the wake of November’s hefty volume and the sell-off it helped precipitate, the market is poised for an estimated $12.11 billion of supply this week as issuers continue to race the clock against the impending expiration of the Build America Bonds program, according to Ipreo LLC and The Bond Buyer.

This week didn’t exactly seem like an ideal time to float a tobacco bond.

Tax-exempt money market funds lost cash for a second straight week as investors withdrew $1.77 billion, leaving $325.56 billion in total net assets for the week ending Nov. 29, according to the Money Fund Report, a service of iMoneyNet.com.

The Bond Buyer’s weekly yield indexes were mixed this week as tax-exempts erased early-week gains with Treasury-driven losses Wednesday and Thursday.

Issuers in the Midwest and Northeast are expected to serve up a meaty $11.27 billion of post-holiday fare in the municipal market this week, according to Ipreo LLC and The Bond Buyer, as they hope to take advantage of last week’s firmness following recent supply and pricing ­volatility.

If the Build America Bond program expires at the end of this year, long-term tax-exempt bonds could lose their latest pillar of support.

A week after the biggest weekly outflow in history, municipal bond mutual funds this week reported the third-biggest.