Public finance

CALIFORNIA

The Thornburg Limited Term Municipal Fund began with just $12 million of total assets under management and 30 years later has grown to $6.8 billion.

Bond insurer Financial Guaranty Insurance Co., the last major holdout creditor in Detroit's bankruptcy, is reportedly nearing a settlement with the city that includes a mix of cash and city assets.

KANSAS

NEBRASKA

Managers say the uptick in volume in recent weeks has helped them diversity clients' portfolios, lowering their exposure to losses from unforeseen calamities.

US Bankruptcy Judge Steven Rhodes, who is overseeing Detroit's bankruptcy, ruled in favor of the city Monday when he dismissed a restraining order blocking the city's ability to shut off water to nonpaying customers.

Federal grants awarded to transit systems damaged by Hurricane Sandy will reduce the financial strain from future storms, Moody's said.

MISSISSIPPI

ARIZONA

A $1.1 billion Texas Transportation Commission will lead the activity in the primary market and usher in the fourth quarter as this week's largest deal -- even while volume is forecasted to decline from last week's recent high of over $8 billion.

Detroit Friday gained Michigan's final approval for a plan to issue $1.1 billion of bonds for a bankruptcy exit financing and to raise money to pay off several creditors.

Triet Nguyen is starting as a managing director at NewOak on Monday.

Most Texans want to increase state spending on transportation infrastructure without raising taxes, according to a new statewide poll.

Taxable municipal bond sales surged to a five-month high in the past week, attracting yield-hungry investors as tax free spreads tighten.

ARKANSAS

ALABAMA

Detroit officials regained control of most government functions, while remaining under state-controlled emergency management, after the city council late Thursday adopted a resolution that keeps Kevyn Orr on as manager with reduced powers until the bankruptcy is over.

The weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell four basis points the week of Sept. 25 to 4.42%.

Green muni bond underwriters are stepping up marketing, with a focus on retail clients, as they compete for a share of the fledgling market.