Buy side

California Gov. Jerry Brown proposes paying off the state's long-term debt, including all economic recovery bonds, and adding to its rainy day fund in his $106.8 billion general fund spending plan.

Los Angeles is hosting its 2nd Regional Investor Conference 2014 on Feb. 26-27 at Universal Studios and Paramount Studios.

Thornburg Investment Management has launched a low duration municipal bond fund aimed at investors looking for a tax-exempt income stream as interest rates rise.

The municipal market will see the first substantial influx of new issue volume this week after a holiday lull that was marked by few new bonds.

The municipal bond market capped a light year of issuance with a 6% drop in long-term volume in December.

Outflows from municipal bond mutual funds persisted for a 32nd straight week, at $1.47 billion.

Muni bond funds that report flows weekly recorded outflows of $1.49 billion for the week of Dec. 25, down from $1.71 in the week prior, Lipper FMI numbers showed.

Outflows, weak supply, rising interest rates, and mediocre returns are forecast for the municipal market as it rings in 2014 — in other words: more of the same.

Light issuance and the Federal Open Market Committee's decision to taper its bond-buying program drove the municipal market on the pre-holiday week.

Puerto Rico Gov. Alejandro García Padilla is proposing three measures to strengthen the commonwealth's and its municipalities’ finances.

When Standard & Poor's downgraded Jefferson County, Ala.'s school warrants to D, some people said the action was misleading and others were confused.

Outflows from weekly reporting municipal bond mutual funds persisted for the 30th straight week, at $1.71 billion.

Heavy outflows from municipal bond mutual funds persisted, Lipper FMI numbers for the week of Dec. 18 showed.

The Bond Buyer's weekly yield indexes were mixed in the week ended Dec. 19.

Battered by rising interest rates and credit concerns in 2013, the muni market may face additional obstacles next year as regulatory limits on broker dealers could crimp liquidity.

Moody's Investors Service is maintaining a stable outlook for public power utilities in 2014, citing modest growth in demand and low volatility in natural gas prices.

Volume is expected to trail off to less than $3 billion this week in what will be the last five full trading sessions of 2013 in which a pair of Northeast deals will lead an otherwise skimpy slate of new issuance in the primary market ahead of a holiday hiatus next week.

Muni bond mutual funds struggled through their 29th straight week of outflows, at $1.90 billion for the week ended Dec. 11.

Municipal bond mutual funds recorded heavy outflows, marking the 29th straight week money has left funds, Lipper FMI numbers showed.

Improved issuer disclosure breeds investor confidence which in turn boosts Massachusetts' bond ratings, according to state Treasurer Steven Grossman.