Investments

On the heels of a historic decline in the money market funds overall last week, tax-exempt funds stemmed their own losses to nearly half of last week’s outflows. Approximately $2.03 billion fled the market and total assets closed at $370.07 billion during the week ending March 22, according to the Money Fund Report, a service of iMoneyNet.com.

Fitch Ratings will raise its credit rating on nearly every state and most cities under an overhaul of its municipal credit-evaluation system next month.

Nearly all of The Bond Buyer’s weekly yield indexes rose this week, as cheapness particularly on the short-end of the curve permeated the market.

Table as of: 03/24/2010 15:18 PM Invisible Supply Issuer and purpose Amount* Approval

ARKANSASPerryville School District No. 7 of Perry CountyMar 24, 2010 . . . . . . $4,340,000

CALIFORNIACalifornia Educational Facilities AuthorityMar 23, 2010 . . . . . . $38,500,000

DALLAS — Louisiana’s 14 state colleges and universities were advised at a legislative budget hearing on Tuesday to begin preparing now for a loss of almost $300 million in federal stimulus funds after fiscal 2011.

ALABAMAAlabamaMar 23, 2010 . . . . . . $12,180,000

DISTRICT OF COLUMBIADistrict of ColumbiaMar 23, 2010 . . . . . . $29,000,000

CHICAGO — Legislation that would allow Illinois’ eight public universities to issue short-term debt to manage through the state’s chronic payment delays ­advanced this week towards a House floor vote.

IOWAClinton CountyMar 22, 2010 . . . . . . $4,515,000

ARIZONAIndustrial Development Authority of the Town of Florence, Inc.Mar 16, 2010 . . . . . . $5,450,000

Toll-road bond investors can stop panicking over high gasoline prices.

DALLAS — In its second large deal of the month, the ­University of Texas Board of Regents plans to take advantage of its triple-A ratings with a $373 million refunding issue scheduled to price today.

IOWAPottawattamie CountyMar 18, 2010 . . . . . . $5,540,000

CALIFORNIAAcalanes Union High School DistrictMar 18, 2010 . . . . . . $29,999,816

The flow of cash into municipal bond mutual funds slowed down another notch last week.

There will be several significantly sized offerings this week, including a pair of $2 billion financings — one in California and the other in Florida — that will join other large deals in the primary market.

Joseph Darcy’s first task upon becoming manager of the Hartford High-Yield Municipal Bond Fund this year: resisting temptation.

Moody’s Investors Service last week revised Temple University’s outlook to negative from stable as fiscal challenges at Temple University Health System may affect the school’s balance sheet.