Investments

ARKANSAS

ALABAMA

New head of state highway officials group seeks national economic stability through sustainable federal transportation funding.

IOWA

FLORIDA

Banks extended their record holdings of municipal bond debt in the first half of 2013 to the highest level since 1991 as they cashed in on an unprecedented opportunity for higher yields amid volatility, municipal sources said.

Moody's lowered the rating of Alabama State University to A3 from A2, and said the rating could drop further when the final results of a forensic audit are known.

INDIANA

CALIFORNIA

A $1.61 billion California various purpose general obligation offering will headline the primary market this week and contribute to the more than $8 billion of new supply, as volume nearly doubles from last week.

Triple-A Northwestern University in Illinois plans to offer nearly $600 million of taxable debt to raise new money for ongoing capital work and refund some now callable debt for savings.

After nearly two years of analysis, Indiana University has dropped its effort to privatize its parking system.

A burst of activity in the secondary market has pushed intermediate and long-term tax-exempt yields lower as the day's session crosses into the afternoon.

Municipal market participants foresee mostly a quiet Friday, in anticipation of a growing calendar projected to arrive next week.

Table as of: 10/17/2013 12:00 PM Invisible Supply Issuer and purpose Amount

ARKANSAS

ARIZONA

Outflows from municipal bond mutual funds continued their stranglehold on the market as demand faltered for a 21st straight week.

A sizeable anticipated calendar, an end to the standoff in Washington and cash-laden investors have provided some downward momentum to yields in the municipal market.

Lebenthal Holdings LLC next month will continue its expansion by starting a private wealth advisory division for retail and institutional clients and adding two Wall Street veterans to lead the endeavor.