Buy side

Weekly reporting municipal bond mutual funds had a net inflow of $509 million during the period ending July 23, AMG Data Services reported.

A nearly $2 billion taxable offering of revenue bonds for the Chicago Transit Authority may be priced in the new-issue market this week, leading an otherwise modest slate of deals as July comes to a close.

Tax-free money market funds remained in negative territory this week as they lost $4.98 billion and ended the week of July 21 with $508.49 billion in total assets, according to the Money Fund Report, a service of iMoneyNet of Westborough, Mass.

The Bond Buyer's weekly yield indexes rose this week, as the municipal market weakened in all but one of the week's sessions.

Providers of municipal bond pricing and evaluation services say they are managing to deliver accurate and transparent pricing of more than one million tax-exempt securities on a daily basis - even though the market is experiencing one of the most pronounced and prolonged periods of volatility in the last three decades.

WASHINGTON - Marking the 10th anniversary of Allegheny Health, Education, and Research Foundation's historic bankruptcy filing and payment default, Moody's Investors Service issued a report yesterday on the lessons learned from that debacle and the challenges still facing nonprofit hospitals.

A pair of issuers from Los Angeles will have starring roles in this week's primary market, which is expected to see an estimated $7.67 billion of new-issue volume, according to Thomson Reuters, compared with a revised $6.27 billion last week.

Weekly reporting municipal bond mutual funds had a net inflow of $251 million during the period ending July 16, AMG Data Services reported.

Expect to hear and read this term much more often: "covered bonds."

Tax-free money market funds had a short-lived period of positive inflows last week, and returned to negative territory this week as they lost $1.32 billion and ended the week of July 14 with $513.48 billion in total assets, according to the Money Fund Report, a service of iMoneyNet of Westborough, Mass.

The Bond Buyer's weekly yield indexes were mostly higher this week, as early week gains were washed out by losses over the past two trading sessions.

New York issuers will dominate the new-issue activity this week as both the Triborough Bridge and Tunnel Authority and the New York City Municipal Water Finance Authority come to the primary market amid an anticipated slate of $7.5 billion, according to Thomson Reuters.

Weekly reporting municipal bond mutual funds had a net inflow of $272 million during the period ending July 9, AMG Data Services reported.

After two weeks of outflows, tax-exempt money market funds swelled by $11.77 billion to end the week of July 7 with $514.80 billion in total assets, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

The Bond Buyer's weekly yield indexes declined this week, as munis grew firmer in each of the week's sessions.

Thornburg Investment Management has hired Christopher M. Ryon, former head of Vanguard Group's intermediate- and long-term tax-exempt funds, as an associate portfolio manager.

A $1 billion North Texas Tollway Authority revenue refunding and a handful of hefty note deals will headline the fairly brisk post-holiday activity in the primary market this week as part of an expected $5.96 billion of competitive and negotiated new-issue volume, according to Thomson Reuters. Last week the market saw a revised $3.39 billion in total volume.

Tax-exempt money market funds began the second half of the year on a sour note, suffering outflows of $10.62 billion, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

DALLAS - After winning a positive response from the market with a $125 million deal last month, the North Texas Tollway Authority is ready to continue its record year in debt issuance by pricing $1 billion of second-tier revenue bonds this week.

Nearly all The Bond Buyer's weekly yield indexes declined this week, as tax-exempts finished firmer in each of the week's sessions.