Buy side

American Airlines proposed merger with US Airways Group stands to impact all airports but several US Airways large hubs are most at risk for change, Wells Fargo Securities LLC says.

A rally in the municipal bond market this week couldn’t slow the stampede from muni bond mutual funds, which recorded outflows for a 17th consecutive week.

The municipal market faces more volatility after the Federal Reserve decided against reducing its stimulus efforts, as investors and other participants shift their attention to the looming fiscal debate, debt ceiling and the selection of a new Fed chairman.

Positive developments delay the date of tobacco securitization bond defaults but defaults are still likely, municipal bond analyst Richard Larkin warned.

The Bond Buyer's weekly yield indexes declined the week ended September 19.

A Financial Industry Regulatory Authority arbitration panel has ruled against The Police and Fire Retirement System of the City of Detroit, which was seeking at least $39.9 million from Citigroup Global Markets, Morgan Stanley Dean Witter and other firms over risky investments.

Outflows resumed for tax-exempt money market funds, which lost $619.5 million in the week ended Sept. 16, according to The Money Fund Report, a service of iMoneyNet.com.

The Please Touch Museum of Philadelphia defaulted on almost $59 million in bonds. The children's museum says it needs a workout.

Tradeweb Markets agreed to buy BondDesk Group LLC in a move that would combine two operators of alternative trading systems that serve the municipal bond market, among other fixed income marketplaces.

Less than half of state pension plans met Morningstar Inc.'s threshold for healthy status in 2012 with Wisconsin again ranking the strongest and Illinois the weakest.

Municipal bond pros are slashing their forecasts for long-term issuance this year, saying the industry is likely to shrink after climbing interest rates curtailed demand for refundings.

Warren Buffett's bond insurance firm Berkshire Hathaway Assurance Corp. made its first appearance in the Detroit bankruptcy as the city filed objections to creditors' requests.

With the FOMC meeting looming, municipalities have curtailed long-term bond issuance to just over $3 billion this week while they wait to see if the Fed tapers.

The municipal bond market rally failed to encourage investors, who pulled a net $1.90 billion from muni bond mutual funds for the week ending Sept. 11.

The tax-exempt market made gains in every session this week as buyers became more confident about participating in the market as the week progressed.

The Bond Buyer's weekly yield indexes declined the week ended September 12.

A bankruptcy judge confirmed American Airlines’ reorganization plan but its exit from Chapter 11 depends on resolution of the antitrust lawsuit against its merger with US Airways Group.

Nine states prevailed in arbitration with the tobacco companies in a dispute over the 1998 master tobacco settlement, providing a boost for those with outstanding tobacco bonds.

A new Standard & Poor's local methodology is expected to lead to changed ratings for 40% of issuers in a review that will start with the largest 48.

Tax-exempt money market funds saw $1.92 billion of net inflows in the week ended Sept. 9.