Investments

U.S. transportation secretary Anthony Foxx on Thursday announced that 52 transportation projects in 37 states will receive a total of about $474 million from the Department of Transportation’s Transportation Investment Generating Economic Recovery grant program.

Outflows curtailed the growth of tax-exempt money market funds for a second week in a row as $2.18 billion exited the industry and total net assets fell to $267.71 billion in the week ended Sept. 2, according to The Money Fund Report, a service of iMoneyNet.com.

ARKANSAS

IOWA

Table as of: 09/05/2013 17:12 PM Invisible Supply Issuer and purpose Amount

The California Senate approved a bill that would establish parameters for school and community college bond issuances.

Rep. Steve Stivers, R-Ohio, has introduced a bill that would expand leasing for offshore oil and gas drilling and allow the Treasury Department to use the revenue to issue bonds, the proceeds of which would eventually go into the highway trust fund and state revolving loan funds.

Connecticut Gov. Dannel Malloy signed legislation creating a $200 million bioscience innovation fund, which will invest through grants, equity investments, loans and loan guarantees.

Table as of: 09/03/2013 11:42 AM Invisible Supply Issuer and purpose Amount

INDIANA

There is undoubtedly considerable waste from inefficient advance refundings, but let's not throw out opportunities to save taxpayers' money, when warranted, by giving credence to half-baked theories based on shoddy scholarship, says Andrew Kalotay.

Citi has entered into a new partnership with TMC to offer its negotiated new-issue municipal bonds to dealers in the retail fixed-income trading system's network.

Illinois' public universities are burdened by the weight of state inaction on pension reform, declining aid and tight in-state tuition regulations, according to Moody's Investors Service.

Securities and Exchange Commission chairman Mary Jo White's annual salary is $165,300, far below the base compensation of any of the top-paid, full-time officials of 21 self-regulatory, industry, government, and other municipal securities-related groups, most of which the SEC either oversees or have members the commission regulates or protects.

A federal judge sided with American Airlines in agreeing to set a November trial date for the federal government's civil antitrust lawsuit against the airline's merger with US Airways Group.

Evidence suggests that declining per capita driving rates in recent years cannot be dismissed as a temporary byproduct of the Great Recession, the U.S. Public Interest Research Group Education Fund found in a study released Thursday.

KANSAS

ILLINOIS

Investors returning from the Labor Day holiday will be met with slim pickings in the primary market this week as long-term volume is expected to drop to just over $1.50 billion this week, led by the pricing of two higher education financings on Wednesday.

The plunge in long-term municipal bond volume for 2013 continued as issuers in August floated 37.7% less than they did over the same period in 2012, the latest sign that rising interest rates are curbing issuer demand.