Buy side

Two of The Bond Buyer’s weekly yield indexes declined to 40-year lows this week as yields dropped slightly in all the week’s sessions.

After experiencing a one-week decline of $5.90 billion, tax-exempt money market funds ended the week of Sept. 28 with $423.01 billion in total assets as the market prepared to close the books on the third quarter, according to the Money Fund Report, a service of iMoneyNet.com.

Dwindling yields on municipal bonds have done nothing to deter investors from continuing to sock away unparalleled sums of cash into municipal bond mutual funds.

The official start of the fourth quarter will be marked by some brisk new-issue activity this week as several large financings - led by two significantly sized Build America Bond deals in California and New York - come to market.

The Bond Buyer’s weekly yield indexes again fell this week, extending a string of declines seen over several weeks and recording an all-time low on the one-year index.

Invesco Powershares is preparing to launch an exchange-traded fund linked to Build America Bonds, fusing two of the hottest ideas in public finance.

It is now prohibited for the New York State Common Retirement Fund (CRF) to enter into business with investment advisors who have made political contributions to the state’s comptroller or a candidate for state comptroller.

With outflows of $8.46 billion, tax-exempt money market funds fell to $428.91 billion in total assets during the week ending Sept. 21, according to the Money Fund Report, a service of iMoneyNet.com.

SAN FRANCISCO - After pricing its massive $8.8 billion revenue anticipation note sale on the low end of its projected yield range yesterday, California now turns to a general obligation bond sale planned in two weeks.

Retail investors and mutual funds snapped up municipal bonds in the second quarter, powering the fastest growth in outstanding state and local government debt in two years.

Municipal bond mutual funds continue to amass record quantities of cash from investors, building a pillar of demand for state and local government debt even as bond yields have never been lower.

In what is the single-largest note deal so far this year, California will issue $8.8 billion of revenue anticipation notes this week, more than double the estimated $4.37 billion of long-term volume expected to be priced in the primary market, according to Ipreo LLC and The Bond Buyer.

WASHINGTON — The Treasury Department’s guarantee program for money market funds expired Friday after generating $1.2 billion of fees from funds that participated in the program.

The Bond Buyer’s weekly yield indexes declined this week, as tax-exempts showed gains in nearly all the week’s sessions.

After slight inflows last week, tax-exempt money market funds fell by $5.33 billion and settled at $437.36 billion for the week ending Sept. 14, according to the Money Fund Report, a service of iMoneyNet.com. The drop coincided with the Sept. 15 corporate tax deadline.

Interactive Data Corp. and Pluris Valuation Advisors LLC have teamed up to provide what they contend will be first-of-its-kind daily pricing data for illiquid student loan and other municipal auction-rate securities.

CHICAGO - Michigan could partner with private companies to build or operate its highways and bridges to boost badly needed transportation revenue under a bill being considered by the Legislature.

Volume in the primary market is expected to be an estimated $9.11 billion of new issues, according to data from Ipreo LLC and The Bond Buyer. That follows a revised $2.31 billion of deals priced the week of Labor Day, according to Thomson Reuters.

Standard & Poor’s revised its outlook to negative on two series of outstanding debt issued by Ward County on behalf of Trinity Health, the main tertiary provider in northwest North Dakota.

Weekly reporting municipal bond mutual funds had a net inflow of $1.07 billion during the week ending Sept. 9, AMG Data Services ­reported.