Buy side

T. Rowe Price recently launched an Intermediate Tax-Free High-Yield Fund targeting investors who are worried about protecting their principle in the face of potentially higher interest rates yet comfortable with some extra risk.

Rhode Island's Tobacco deal has been put on day to day status by Citigroup following a lawsuit from two Oppenheimer Rochester funds.

Shortening duration, buying premium bonds, and minimizing risk are three paths municipal managers are taking as the second half of 2014 gets under way in anticipation of higher interest rates.

Volume will inch up slightly from last week but remain relatively sparse as an estimated $5.81 billion makes its way to market, led by a $575 million Illinois Finance Authority revenue sale and a Rhode Island Tobacco Settlement Financing Corp. offering.

Inflows for all municipal bond funds fell off slightly this week from last week, but still remain fairly strong.

The Bond Buyer's muni bond indexes were mixed in the week ending July 31.

If the Puerto Rico Electric Power Authority were to fail to make loan payments to Citibank due on July 31, the consequences might spread beyond Puerto Rico bonds. Bad news on PREPA could also trigger a selloff of tobacco bonds, analysts speculated.

Analysts are conflicted over how investors should protect their 2014 returns and mitigate their interest rate risk for the rest of the year.

New-issue volume is expected to decline by around $2 billion this week, as a handful of deals from California, the District of Columbia and Illinois will vie for investors’ attention.

Municipal funds reported their highest inflows in 11 weeks.

Texas will provide nearly $6 million in subsidies for Charles Schwab Corp. to add a new center in El Paso and expand its Austin operation, Gov. Rick Perry said.

The Bond Buyer’s muni bond indexes strengthened in the week ending July 24.

Hospital bankruptcies are on pace to set a record in 2014 and investors should get more involved with restructuring efforts, a firm specializing the field says.

Samson Capital Advisors LLC, a New York-based global fixed-income investment management boutique, has tripled its assets under management in the past decade, as demand surged for wealth management advice.

Outflows from tax-exempt money market funds decreased to $66 million in the week ended July 21, as total net assets settled at $256.75 billion, according to The Money Fund Report, a service of iMoneyNet.com.

Gov. Jerry Brown signed a bill into law on Wednesday that will expand an existing law to require California debt issuers to disclose any direct loans from banks to the California Debt and Investment Advisory Commission.

Analysts and investors are applauding the pressure Standard & Poor's is putting on issuers to disclose their outstanding direct loans.

The Amsterdam at Harborside plans to file for bankruptcy tonight or tomorrow, the conclusion of over a year of restructuring negotiations with bondholders. The plan does not forgive any debt, but does feature a senior and subordinate exchange offer.

Amid heightened demand for municipals and volume estimated to remain around $5 billion this week, competitive sales will dominate new-issue activity with a pair of Maryland general obligation offerings and an Alabama GO sale.

The Bond Buyer's muni bond indexes were mixed in the week ending July 17.