Investments

Joseph J. Roberts, a director of institutional sales at M&T Securities Inc., has decided to step down at the end of 2013 following a 48-year career in the financial markets, mostly in the municipal bond industry.

Brownstone Investment Group, a fixed income investment firm, brought aboard former Morgan Stanley trader Matthew Martines as managing director to expand its municipal bond trading and electronic market-making units.

ILLINOIS

IOWA

ALASKA

Tradeweb Markets completed the purchase of BondDesk and rolled out its rebranded retail group, called Tradeweb Direct.

The federal government approved a $1.6 billion Transportation Infrastructure Finance and Innovation Act loan for the New York Thruway Authority’s new Tappan Zee Bridge.

ARKANSAS

ALABAMA

The Virginia Supreme Court issued a ruling Thursday that allows the Elizabeth River Tunnels project to move forward as a tolled facility.

Long-term municipal bond volume for October trailed 2012 issuance for the third straight month, much as it has throughout the year, falling 28% over the same period in 2012.

Outflows among tax-exempt money market funds continued for a third consecutive week as $879.7 million exited the funds and total net assets fell to $262.78 billion.

ARKANSAS

COLORADO

Traffic and toll revenues are ramping up on Maryland Transportation Authority’s $2.4 billion, 19-mile Intercounty Connector built to relieve congestion in the Washington area.

Houston Community College District carries the largest debt load among community colleges in Texas with $617 million, according to Texas Comptroller Susan Combs.

Non-profit hospitals in states that have opted not to expand their Medicaid programs under the new federal health care law will face financial problems and rating pressure next year, Fitch Ratings warned.

ARIZONA

ALABAMA

U.S. airports are rebounding from the recession to a more normal pattern with stabilized ratings, Fitch said in new report issued today (Oct. 30).