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Municipal bond funds saw outflows in the latest week, according to Lipper data released on Thursday. Funds which report weekly saw $586.481 million of outflows in the week ended Sept. 2, after seeing outflows of $344.563 million in the previous week, Lipper reported.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased two basis points to 4.42% for the week ended Sept. 3 from 4.40% in the previous week.

The Municipal Securities Rulemaking Board will no longer stick to its Dec. 7 implementation date for its best execution rule, but will instead set the date to fall four months after it releases its guidance on the rule, the self-regulator said Thursday.

The Puerto Rico Electric Power Authority still has months of work ahead to come to agreement on such issues as the maturity structure for its new bonds and improvements to its efficiency.

The U.S. Justice Department’s antitrust division is conducting a general inquiry into whether certain brokers’ brokers have engaged in anti-competitive practices with regard to pricing for secondary market and other municipal bond trades, according to industry officials.

Citing Kentucky’s unfunded pension liabilities, Standard & Poor's Thursday cut the Bluegrass state’s issuer credit rating to A-plus from AA-minus; other ratings were also downgraded.

The Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission to approve proposed rule changes that would address potential conflicts of interest by limiting the gifts and non-cash benefits that non-dealer municipal advisors can give to issuers and others in connection with their activities.

Prices of top-rated municipal bonds finished little changed on Thursday, traders said, as yields on some maturities were steady to as much as one basis point stronger.

California’s exceptionally strong legal protections mean sustained pension hikes for the next several years, according to Moody’s Investors Service.

Standard and Poor’s has released a report describing how it’s incorporating into its ratings local governments’ reporting of pensions under newly applicable standards from the Governmental Accounting Standards Board.

Broward County, Fla., selected five companies that will compete to become the private partner that will expand the county’s convention center and build an adjacent hotel.

The twin ports of Los Angeles and Long Beach are bracing for potential impacts from a slowing Chinese economy.

Prospects for bringing all New York subway stations to a state of good repair are dim even if the MTA gets full capital funding, said a watchdog organization.

Prices of top-rated municipal bonds were nearly unchanged at mid-session, traders said, as yields on some maturities were unchanged to as much as one basis point stronger.

Standard & Poor's Ratings Services said it raised its long-term rating to AA-minus from A-plus on Durand, Wis.' series 2012A general obligation corporate purpose bonds outstanding.

The proposed recovery plan agreed to by the Puerto Rico Electric Power Authority (PREPA) and certain bondholders, announced Wednesday, furthers the view that a restructuring of the issuer's debt obligations remains probable, Fitch Ratings said.

The Treasury Department said it will auction $24 billion three-year notes on Sept. 8.

The Treasury Department said it will auction $21 billion 9-year, 11-month 2% notes on Sept. 9.