Investments

The Reserve Primary Fund broke the buck in September, but despite fears to the contrary, it has not broken the back of the money market fund industry. Click here to read the American Banker article.

The rush of state and local governments into the taxable bond market has prompted reports of significant savings. Just how much savings is a contentious - and complicated - question.

ILLINOISOrland Park VillageMay 4, 2009 . . . . . . $7,785,000

ARIZONAMaricopa County Industrial Development AuthorityApr 27, 2009 . . . . . . $4,000,000

New York Gov. David Paterson yesterday nominated a new chairman to the Dormitory Authority of the State of New York, the second largest issuer of bonds in the country. Paterson picked Alfonso L. Carney Jr. to replace Gail Gordon, who has served as chairwoman for 11 of the 14 years she’s been on the board.

OKLAHOMACleveland County Independent School District No. 2 (Moore)Apr 30, 2009 . . . . . . $28,620,000

ARIZONAMaricopa County Industrial Development AuthorityApr 30, 2009 . . . . . . $75,115,000

The Massachusetts Health and Educational Facilities Finance Authority will head to market in the next two weeks with $200 million of tax-exempt, new-money debt on behalf of Partners HealthCare System.

A trio of sizable financings from issuers in California, as well as a large Georgia offering, will be the largest deals to usher in the first full trading week of May as the primary market anticipates an estimated $5.46 billion in total new issuance this week, according to Ipreo LLC and The Bond Buyer. The issuance comes on the heels of a revised total of $3.62 billion last week, according to Thomson Reuters.

DALLAS — This week’s Texas docket includes two sizeable issues, a multi-tranche sale from a north Dallas suburb, and a couple of school district offerings.

Investors handed over another fat slug of cash to municipal bond mutual funds last week as money continued to flood out of safe havens and into higher-yielding assets.

ALABAMALamar County Board of EducationApr 30, 2009 . . . . . . $3,825,000

CALIFORNIACalifornia Municipal Finance AuthorityApr 29, 2009 . . . . . . $8,895,000

With outflows totaling $5.94 billion, tax-exempt money market funds settled at $468.57 billion in total assets for the week ending April 27, according to the Money Fund Report, a service of iMoneyNet.com.

Reports that the municipal bond market found its savior may have been premature.

For the past seven years, Peter Demirali has urged clients to put money into taxable municipal bonds — a small, neglected sector of the industry.

KANSASDerby (City)Apr 28, 2009 . . . . . . $2,755,000

ARIZONAArizona Board of RegentsApr 28, 2009 . . . . . . $202,370,000

The Dormitory Authority of the State of New York yesterday approved $1.8 billion of borrowing for school construction and capital improvements throughout the state, while agency officials are also evaluating issuing personal income tax bonds through the federal Build America Bonds program.

DALLAS - Federal stimulus funding will provide a cushion for colleges and universities as they scramble to cut costs over the next two years, but prospects for 2012 and beyond are extremely uncertain, analysts at Standard & Poor's said yesterday.