Buy side

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell five basis points to 4.30% in the week ended Nov. 24 from 4.35% in the prior week.

Rhode Island selected Invesco and Ascencus to manage its $7 billion CollegeBoundfund 529 program, replacing AllianceBernstein.

Municipal bond funds reported inflows for the seventh week in a row, according to Lipper data released on Thursday.

In the week ended Nov. 19, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell to 4.35% from 4.38% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Municipal market trading plummeted to $551 billion in the third quarter, the lowest level since at least 2005 when the Municipal Securities Rulemaking Board began recording the statistics, according to the board.

Securities and Exchange Commission chair Mary Jo White on Wednesday declined to take a position on a bill that would increase hedge fund reporting in the wake of fund purchases of Puerto Rico’s debt, saying it has both pros and cons..

The 32-year-old national fixed-income shop First Empire Securities has begun underwriting new-issue municipal bonds it could offer to its institutional clients and opened a Chicago office.

California’s treasurer has launched an open data website that he says will make it easier to analyze $1.5 trillion in debt issued in the state since 1984.

Unrated Scranton, Pa., is taking steps to regain the good graces of the capital markets, said its mayor and business administrator.