Investments

Neither primary volume nor moderately volatile Treasuries did much to upset the municipal market's steady mien this week. Despite the modest backup in most rates among munis and Treasuries on the week, muni bond indexes held their levels.

Tax-exempt money market funds continued to lose cash for a second week in a row as total net assets decreased by $679 million to $266.74 billion in the week ended Oct. 22, according to The Money Fund Report, a service of iMoneyNet.com.

Bonds have played a role in financing spaceports.

Table as of: 10/24/2012 15:22 PM Invisible Supply Issuer and purpose Amount

CALIFORNIA

ALABAMA

Spaceports are popping up all over the U.S., as both existing airports and brand new facilities position themselves to profit from a new age of commercial space travel and transport, but the industry is still in its infancy.

Moody's said the ongoing wave of mergers sweeping the non-profit health care sector led to an uptick in upgrades during the third quarter and could reverse earlier expectations that downgrades would outpace upgrades for the full year.

The Internal Revenue Service is examining almost $40.63 million of variable rate student loan bonds and notes issued by the Oklahoma Student Loan Authority in 2002.

Moody's Investors Service downgraded the long term rating of Pennsylvania's State System of Higher Education to Aa3 from Aa2, affecting $1.5 billion of debt.

Table as of: 10/23/2012 13:29 PM Invisible Supply Issuer and purpose Amount

ARKANSAS

COLORADO

IOWA

ALABAMA

The Kansas Board of Regents approved a plan to build two residence halls at the University of Kansas with $47.8 million of bonds.

IDAHO

ALABAMA

The municipal market can expect another middling week of new issuance. Estimates hold that anticipated volume for the week should reach $7.64 billion.

Standard & Poor's downgraded local and state governments more than it upgraded them in the third quarter 2012, but did the opposite with public utilities.