Buy side

Tax-exempt money market funds generated inflows for a second week in a row as $2.29 billion of new cash boosted total net assets to $265.75 billion in the period ending Dec. 9, according to The Money Fund Report, a service of iMoneyNet.com.

The not-for-profit health care sector has reached a negative tipping point, warned Standard & Poor's, which also said new health care law could start to impact states' larger credit profiles.

Discount bonds performed worse because of the dreaded de minimis rule, under which buyers pay taxes on the gain at maturity at the ordinary income rate when the discount is large. But there is a silver lining — taking a tax-loss can ease the pain.

Moody's will extend its stable outlook to the airport sector in 2014 as more passengers will provide more support for new money debt.

American Airlines emergence from Chapter 11 and merger with US Airways Group Inc. officially took off Monday as trading on the new company began.

John L. "Jack" Kraft, bond counsel attorney for more than 45 years, has played a key role in establishing the bond counsel business in New Jersey, handled some of the state's most significant bond deals, and been at the forefront of defending the tax-exemption for municipal bonds.

Underwriters should price an estimated $11.33 billion of long-term supply in what is likely the last significant calendar of 2013.

The Bond Buyer's weekly yield indexes rose the week ended Dec. 5.

Tax exempt money market funds lured $725.2 million in the week ended Dec. 2, according to The Money Fund Report, a service of iMoneyNet.com.

Lebenthal & Co. said it will begin trading on MuniAxis, its new platform for odd-lot municipal bond transactions, as the market opens on Dec. 12.

Investors endorsed Illinois’ pension restructuring legislation with state paper trading at tighter spreads while rating agencies, though cautious, called the overhaul a positive step.

California water and sewer utilities have performed well in the past year, with the average agency rated AA, according to Fitch Ratings.

Massachusetts will hold its third annual investor conference, which Treasurer Steven Grossman touts as art of the commonwealth's enhanced investor disclosure program.

After 14 straight quarters of revenue growth, most U.S. states are heading into the new year with a stable outlook even as local governments will continue to feel the financial pressures they experienced over the course of the economic downturn, according to Fitch Ratings.

The municipal market is struggling to tread water Monday as light new-issue volume battles against fading Treasury yields to provide direction.

Tax-exempt money market funds had $1.08 billion in outflows, reducing total net assets to $262.74 billion in the week ended Nov. 25, according to The Money Fund Report, a service of iMoneyNet.com.

Yields in the municipal market have started Monday somewhat weaker as they search for traction.

Municipal issuance is expected to surge in the post-holiday primary market, led by a $1.2 billion revenue sale from the New York State Tobacco Settlement Authority.

Mitre Media plans the beta launch in February of a web-based tool designed to connect buyers and sellers, in the latest online marketing venture aimed at munis.

A bankruptcy Court judge said he expects to rule by Wednesday on American Airlines' request for final clearance to merge with US Airways Group Inc. and exit Chapter 11.