Investments

ALABAMALawrence CountyDec 21, 2009 . . . . . . $13,130,000

Table as of: 12/23/2009 17:00 PM Invisible Supply Issuer and purpose Amount* Approval

Money market funds coughed up more cash last week as investors continued to embrace risk amid signs of a stabilized economy.

One of the craziest, most transformative years ever in state and local government finance will end with a whimper this week. Municipalities are slated to sell just $74.1 million of bonds this week, according to data from The Bond Buyer and Ipreo LLC, after having floated $611.7 million last week.

The Bond Buyer's weekly yield indexes rose last week as a weaker tone permeated the municipal market throughout the holiday-shortened set.

ALABAMAIndustrial Development Board of the City of OxfordDec 21, 2009 . . . . . . $1,200,000

INDIANAFrankfort (City)Dec 22, 2009 . . . . . . $6,715,000

Texas Children's Hospital in Houston will open the new year by retiring $78 million of auction-rate securities almost two years after the market for that type of debt collapsed.

MINNESOTAFarmington (City)Dec 21, 2009 . . . . . . $1,200,000

ALABAMAEvergreen (City)Dec 16, 2009 . . . . . . $2,500,000

Municipal market participants want Congress to provide more assistance for muni bonds next year by extending or expanding many of the bond-related provisions in the American Recovery and Reinvestment Act, especially those authorizing the Build America Bond program.

Although Bank of America Merrill Lynch does not foresee municipals repeating this year's performance in 2010, the bank's strategists see a few prominent roles for municipals in their main investment themes for the year.

INDIANACumberland (Town)Dec 10, 2009 . . . . . . $650,000

ALABAMAAuburn UniversityDec 10, 2009 . . . . . . $79,500,000

Municipal bond mutual funds keep garnering new money at a steady clip as investors continue to grow bored waiting on the sidelines.

Even as the approaching holidays are expected to put a seasonal damper on primary market supply, New York's Liberty Development plans to begin marketing $2.59B of escrow bonds tomorrow to meet a year end deadline to sell Liberty bonds for redevelopment of the World Trade Center site.

ARKANSASHope School District No. 1-A of Hempstead CountyDec 17, 2009 . . . . . . $2,840,000

ARIZONAFestival Ranch Community Facilities DistrictDec 17, 2009 . . . . . . $7,600,000

Most of The Bond Buyer's weekly yield indexes declined slightly this week, despite weakness in the municipal secondary market through Tuesday.

Pennsylvania Gov. Edward Rendell Thursday warned that he would lay off 1,000 state employees to help balance the current budget unless the legislature passes a table games bill by Jan. 8.