Buy side

Tax-exempt money market funds continued their seesaw between inflows and outflows the week ending July 12, declining $1.89 billion to settle at $352.19 billion in total net assets, according to the Money Fund Report, a service of iMoneyNet.com.

The Bond Buyer’s weekly yield indexes mostly declined this week as the municipal market continued to edge slightly firmer throughout the period.

This year marks the 25th anniversary of The Bond Buyer 40 Municipal Bond Index, a measure of municipal bond values with an interesting and at times inglorious history.

Municipal bond mutual funds last week rebounded from a brief spell of cash leakage with the biggest influx of new money in four months.

A $1.5 billion general obligation bond sale from the Los Angeles Community College District shares the primary market spotlight this week with $900 million of BABs from Illinois, expected to price Wednesday after a two-week delay.

The Bond Buyer’s weekly yield indexes declined during this holiday-shortened week, buoyed mostly by a Wednesday rally of three to five basis points.

Build America Bonds have begun to reshape long-term taxable bond indexes that until now included little state and local government debt.

Tax-exempt money market funds recovered $3.19 billion of cash for the week ending July 5 — more than double their outflows the previous week — ending with $354.08 billion in total assets, according to the Money Fund Report, a service of iMoneyNet.com.

Closed-end municipal bond funds continue to enjoy shelter from the turbulence plaguing the rest of the sector.

Investors pulled cash out of municipal bond mutual funds last week for just the third time in a year and a half, despite a strong week for state and local government debt.

As the market closes the books on June’s low volume, investors with proceeds from recent coupon and maturity payments to reinvest hope July perks up following this holiday-shortened week’s relatively light calendar.

Nearly all of The Bond Buyer’s weekly yield indexes declined this week as tax-exempts grew firmer amid light secondary trading.

Tax-exempt money market funds lost $1.44 billion in the week ending June 28, settling at $350.9 billion, according to the Money Fund Report, a service of iMoneyNet.com.

The payments that cigarette manufacturers make to the states are dwindling as people smoke less, posing the latest setback to tobacco bonds — a sector that’s enjoyed little good news since the financial crisis.

Municipal bond mutual funds commanded a modest sum of new money last week. Muni funds reported $151.5 million in new money from investors during the week ended June 23, according to Lipper FMI.

Los Angeles serves up a $1.2 billion tax and revenue anticipation note sale in the short-term market this week while issuers in New York deliver a pair of substantial deals in the long-term market.

CHICAGO — Yields on floating-rate municipal prepaid gas bonds with ties to BP have spiked to nearly 9% from less than 0.5% as credit analysts continue to cut their ratings on the oil giant.

The Bond Buyer’s weekly yield indexes were narrowly mixed this week as municipals remained unchanged through much of the week, with the tone shifting from negative to positive.

Tax-exempt money market funds rebounded slightly the week ending June 21 to post inflows of $485.3 million after losing nearly $3 billion in the prior reporting period, according to the Money Fund Report, a service of iMoneyNet.com. The influx caused total assets to rise to $352.34 billion from $351.84 billion.

Vanguard is jumping into the municipal bond exchange-traded fund fray, proposing to launch three muni ETFs with the lowest fees in the industry.