Investments

The Arkansas Higher Education Coordinating Board has approved bond proposals from the University of Arkansas for Medical Sciences and the University of Arkansas at Fort Smith.

IOWAClive (City)Nov 18, 2010 . . . . . . $5,520,000

ALABAMAUniversity of North AlabamaNov 19, 2010 . . . . . . $35,765,000

Skittish investors withdrew a stunning $3.107 billion from municipal bond mutual funds in the week ending Nov. 17 — the single worst week of outflows and the largest departure of cash in 10 years, according to weekly fund flow data from Lipper FMI.

CHICAGO — Ohio will enter the market Monday with $300 million of tax-exempt bonds and taxable Build America Bonds to finance higher education capital projects across the state.

The municipal market is expected to catch its collective breath this week as new volume tapers off by about $2.5 billion from the $7.25 billion that smothered the market last week, sparking a sell-off that sent benchmark yields to 15-month highs and caused the cancellation of a handful of deals, according to Ipreo LLC and The Bond Buyer.

CALIFORNIABerkeley Unified School DistrictNov 18, 2010 . . . . . . $11,500,000

ARIZONAYavapai County Industrial Development AuthorityNov 18, 2010 . . . . . . $40,000,000

Anyone considering buying a taxable municipal bond might want to get a quote on some municipal credit-default swaps first.

The Bond Buyer’s weekly yield indexes increased dramatically this week amid a supply-driven rout that persisted through Wednesday and prompted a number of issuers to postpone pricing.

Modest gains continued to boost tax-exempt money market funds for a second week in a row, as $403.7 million arrived during the week ending Nov. 15 to push total net assets to $327.49 billion, according to the Money Fund Report, a service of iMoneyNet.com.

CALIFORNIANicasio Elementary School DistrictNov 17, 2010 . . . . . . $2,440,000

ARKANSASPine Bluff (City)Nov 17, 2010 . . . . . . $3,350,000

ARIZONAGlendale (City)Nov 16, 2010 . . . . . . $38,300,000

COLORADOColorado Educational and Cultural Facilities AuthorityNov 16, 2010 . . . . . . $9,865,000

WASHINGTON — The ­Securities and Exchange Commission would violate the Tower Amendment and the principles of federalism if it applies its proposed rules on asset-backed securities to municipal bonds, 14 market groups warned this week.

ILLINOISDecatur (City)Nov 15, 2010 . . . . . . $1,805,000

ARIZONAFlorence Industrial Development AuthorityNov 15, 2010 . . . . . . $6,665,000

The story in the municipal bond market this month has been bleak. The story in the municipal bond exchange-traded fund ­market has been even bleaker.

CHICAGO — A new bond-issuing authority made up of the University of Nebraska and the city of Lincoln will take competitive bids Wednesday on nearly $100 million of recovery zone economic development bonds and Build America Bonds.