Investments

Tax-exempt money market funds lost the inflows they earned last week — and then some — as a result of the $2.82 billion of outflows that fled during the week ended Aug. 17 that caused the funds to settle at $446.12 billion, according to The Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

ARIZONAPima County Industrial Development AuthorityAug 19, 2009 . . . . . . $176,260,000

CONNECTICUTGuilford (Town)Aug 19, 2009 . . . . . . $11,400,000

Asset managers expect it will take four to seven years to recover the assets under management lost during the economic crisis, according to a study by McKinsey & Co.

With municipal volume down nearly $50 billion so far this year, retail investors are having to look outside their comfort zones to add value to their portfolios, municipal analysts, trading, sales, and underwriting sources said.

CHICAGO - Indiana's Purdue University plans to enter the market next week with roughly $50 million of certificates of participation divided into a tax-exempt tranche and a taxable series that will be issued under the Build America Bonds program.

FLORIDAMiami-Dade CountyAug 18, 2009 . . . . . . $83,280,000

With a gusher of new money and seemingly few alluring opportunities on which to spend it, one might guess municipal bond mutual funds would be sitting on a ton of cash.

ALABAMAAlabama State University Board of TrusteesAug 6, 2009 . . . . . . $35,000,000

KANSASOverland Park (City)Aug 17, 2009 . . . . . . $22,600,000

New York State Attorney General Andrew Cuomo Monday filed fraud charges against Charles Schwab & Co., alleging it misled investors about the risks of auction-rate securities.

ALABAMAPickens County Hospital AssociationJul 30, 2009 . . . . . . $7,030,000

The municipal market will get another significant dose of Build America Bonds this week when more than $2 billion of the taxable securities are expected to arrive in the primary market as part of an estimated $7.26 billion in total new-issue volume, according to Ipreo LLC and The Bond Buyer.

Even the most uninviting yields ever on short-term municipal debt cannot stem the tidal wave of cash flooding short-term municipal bond mutual funds.

ALABAMATarrant (City)Aug 13, 2009 . . . . . . $3,660,000

DALLAS — Standard & Poor’s raised the underlying credit ratings for the Alamo Community College District and the Houston Community College System to AA-plus from AA as each prepares to bring maintenance tax notes to market.

After seeing slight losses last week, the total assets of tax-exempt money market funds rose by $2.07 billion and settled at $448.94 billion for the week ending Aug. 10, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

The University of California this week announced plans to issue more than $1 billion of taxable Build America Bonds next week, as part of an issuance that will total $1.375 billion.

The Bond Buyer’s yield indexes were mixed this week, as the municipal market experienced little movement, with a good primary market supply and fairly light secondary trading activity.

ALABAMABirmingham Special Care Facilities Financing AuthorityAug 12, 2009 . . . . . . $235,000,000