Investments

Moody's Investors Service hit seven of eight Illinois public universities with a downgrade Friday including the flagship University of Illinois in action that cuts more than $2 billion of rated debt primarily over exposure to the state's fiscal woes.

Monoline insurers that have hit rock bottom are positioned for a rebound that could see them wrapping up to 30% of new issue supply in some ratings groups, Citigroup Global Markets said.

Muni bond mutual fund outflows have fallen from recent levels, but remain heavy, at $974 million.

Low interest rates and investor skepticism continue to hold financial guarantors down, even as insurers introduced new and evolving business models to rejuvenate the market.

Municipal bond issuance fell 10% in the first half of 2013 after a surge in interest rates in May and June overwhelmed demand for refunding and other factors that analysts had expected to propel long-term volume for the year.

ALABAMA

ALABAMA

The Bond Buyer's weekly yield indexes increased the week ended August 8 amid gains in the Treasury market.

Two House members have announced that they are developing a bipartisan congressional caucus focused on infrastructure and the growing use of public-private partnerships.

Tax-exempt money market funds recorded their biggest inflow in more than a year as total net assets soared by $3.84 billion to $267.96 billion in the week ended Aug. 5

ARKANSAS

CALIFORNIA

Soon after a New Hampshire authority became the first issuer to withdraw from the Internal Revenue Service's voluntary closing agreement program for student loan bonds, the IRS initiated an audit of $135.4 million of adjustable rate education loan revenue bonds it issued in 2011.

The City Colleges of Chicago has picked a banking team led by Jefferies for its inaugural sale of $250 million of debt that's on track to sell in September or October.

The steepest yield curve in more than a year has created value for tax exempt investors, some advisors say.

A senior democrat on the U.S. House of Representatives Transportation and Infrastructure Committee has introduced a bill that would reauthorize a popular federal transportation grant program and set aside a portion of the program's funds for small and medium sized cities.

CONNECTICUT

CALIFORNIA

Table as of: 08/06/2013 10:49 AM Invisible Supply Issuer and purpose Amount

Moody's Investors Service has downgraded the rating on Redwoods Community College District to A1 from Aa2 and assigned a negative outlook.