Investments

Great rotation or not, more money hemorrhaged from municipal bond mutual funds as outflows occurred for the sixth straight week, at $631 million.

Inflows of $57.1 million entered the tax-exempt money market industry in the week ended April 8 and total net assets inched up to $273.12 billion, according to The Money Fund Report, a service of iMoneyNet.com.

ARKANSAS

ALABAMA

The Rehabilitation Institute of Chicago plans to sell up to $450 million of new-money and refunding bonds as it finalizes financing plans for a $550 million replacement facility.

President Obama's fiscal year 2014 budget again proposed a 28% cap on tax expenditures including municipal bond interest for the top 2% of income earners, despite efforts by muni market participants lobbying against the proposal.

The commonwealth's worsening fiscal crisis — underscored by a $2.5 billion fiscal year 2013 deficit — has made the decision to curtail ownership an easy one for some mutual fund managers who own troubled credits from the island, municipal experts said.

Janet Cowell, the state treasurer of triple-A rated North Carolina, said the state may need to issue bonds or raise new revenue to pay for infrastructure needs.

ARKANSAS

Table as of: 04/09/2013 16:13 PM Invisible Supply Issuer and purpose Amount

ALABAMA

ILLINOIS

MISSOURI

DBC software, which is now used for structuring roughly 90% of the annual negotiated municipal bond underwriting in the U.S., said it recently filled out a client list that includes the top-30 largest underwriters by volume in the marketplace.

Nashville will sell $227.9 million of revenue bonds for water and sewer projects Wednesday, then returns to the market April 16 to sell $337.8 million of general obligation bonds.

ARKANSAS

ARIZONA

Table as of: 04/05/2013 14:58 PM Invisible Supply Issuer and purpose Amount

The stage is set for another large and eventful week as issuers in California and Florida are preparing to thunder into the market with a pair of $2 billion deals that will share the new-issue spotlight after last week's well-received flurry of volume amid late week gains and bankruptcy news out of Stockton, Calif.

City Comptroller John Liu and the New York City Pension Funds called on for-profit universities DeVry and Career Education to reveal students' debt levels.