Markets

All The Bond Buyer's weekly yield indexes increased this week, and the one-year note index rose 107 basis points, the largest one-week index since it began in July 1989.

For the first week since the beginning of the year, tax-free money market funds saw outflows with a $10.41 billion decline for the week ending Feb. 18, causing assets to drop to $481.64 billion, down from the prior week's high of $492.05 billion, according to the Money Fund Report from imoneynet.com.

Weekly reporting municipal bond mutual funds had a net inflow of $383 million during the period ending Feb. 13, AMG Data Services reported.

There will be few sizable deals for investors to choose from in an abbreviated trading session this week due to the observance of the Presidents Day holiday, as $2.42 billion of expected new-issue volume will come to market after last week's revised total of $4.40 billion.

Tax-free money market funds inflows were down from last week's huge haul, but still totaled $2.124 billion, boosting assets to $492.05 billion for the week ending Feb. 12, according to imoneynet.com.

Nearly all of The Bond Buyer's weekly yield indexes increased this week, as uncertainty in the auction-rate market helped push yields higher through the latter part of the week.

Eleven of the market's largest tender option bond programs have approached Moody's Investors Service with plans to update the documents defining their programs so the underlying ratings of insured bonds are taken into account.

Weekly reporting municipal bond mutual funds had a net inflow of $563 million during the period ending Feb. 6, AMG Data Services reported.

New York's Metropolitan Transportation Authority and New York City will share the spotlight in the Empire State, teaming up to bring over $1.1 billion of supply to the new-issue market this week as overall volume is expected to reach $3.9 billion, significantly down from last week's revised $17.7 billion total.

The Bond Buyer's weekly yield indexes declined this week, as municipals grew firmer in each of the week's sessions until yesterday, when yields did an about-face.