Buy side

Tax-exempt money market funds managed to continue their upward growth for the week ending June 16, though they saw significantly lower inflows than last week, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Conn.

Weekly reporting municipal bond mutual funds had a net inflow of $695 million during the period ending June 11, AMG Data Services reported.

Retail investors and money market funds will be targeted by underwriters preparing to price some of the largest offerings during a week that expects to see $7.9 billion of estimated new-issue volume in the long-term market and a note deal of up to $2 billion in the short-term market.

Most of The Bond Buyer's weekly yield indexes rose this week, as losses in the municipal market outweighed gains.

Following a one-week blip of outflows last week, tax-free money market funds returned to positive territory for the week ending June 9, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

A Texas issuer and a New York issuer will share the primary market spotlight this week, with a handful of deals from diverse sectors - including energy, tobacco, and airports - though the activity will arrive amid relatively light overall volume.

Weekly reporting municipal bond mutual funds had a net inflow of $693 million during the period ending June 4, AMG Data Services reported.

After four straight weeks of significant inflow activity and record-high asset levels, municipal bond money market funds experienced outflows in the week ending June 2, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

Most of The Bond Buyer's weekly yield indexes declined this week, as gains from an early-week rally barely withstood a sell-off yesterday.

As a means of exiting the auction-rate securities market and seeking new alternatives for cost-efficient leverage, a handful of municipal closed-end funds are in the midst of launching new floating-rate products or relying on traditional tender-option bond programs to redeem their outstanding auction-rate preferred shares.

With the June rollover season officially getting underway this week, there should be strong demand for the large new issues scheduled for pricing in the primary as many investors are in need of fresh supply to reinvest their coupon, maturity, or redemption proceeds.

Weekly reporting municipal bond mutual funds had a net inflow of $903 million during the period ending May 28, AMG Data Services reported.

Nearly all The Bond Buyer's weekly yield indexes rose this week, as firmness that existed in the market prior to the three-day Memorial Day weekend eroded upon return due to rising Treasury yields.

May has been a stellar month for tax-exempt money market funds.

Weekly reporting municipal bond mutual funds had a net inflow of $815 million during the period ending May 21, AMG Data Services reported.

The arrival of a billion-dollar deal from Florida along with large utility offerings this week will keep the primary market busy despite the abbreviated trading in observance of Memorial Day yesterday. However, new-issue volume at the end of May won't be much higher than it was at the start of the month.

The Bond Buyer's weekly indexes were mixed this week, as slight gains were nearly washed away by a sell-off yesterday.

Tax-free money market funds continued on their record-breaking streak this week.

When June 1 officially kicks off the spring reinvestment season, bondholders will be faced with an estimated $51.6 billion in municipal bond redemptions for the month - approximately a 15% increase over June 2007, according to new figures from Interactive Data.

Weekly reporting municipal bond mutual funds had a net inflow of $695 million during the period ending May 14, AMG Data Services reported.