Public finance

Municipal bond fund flows turned negative for the week ending April 30, as funds reported $26.38 million of outflows.

A federal judge Wednesday heard arguments from Michigan attorneys defending the state's controversial emergency management law from a lawsuit that calls it unconstitutional and illegal.

Approval of a $1.9 billion federal transportation loan for the $5.7 billion Silver Line rail extension to Washington's Dulles Airport is the largest ever awarded.

An issuer's credit health may become more important to the evaluation of special revenue bonds if Detroit impairs its water and sewer debt, Fitch Ratings said in a detailed look at how it may revise criteria after the largest municipal bankruptcy in the U.S.

Tax-exempt money market fund outflows slowed to $3.48 billion as total net assets dropped to $257.62 billion in the week ended April 28, according to The Money Fund Report, a service of iMoneyNet.com.

CALIFORNIA

ARIZONA

Tolling and transit advocates praise the $302 billion transportation legislation now in Congress, but others doubt lawmakers will act before the November elections.

Investment advisors gave their take Tuesday at the Milken Institute Global Conference on investments at a time when questions are rising about the status of the economic cycle.

The banks that hold $1.4 billion of Detroit pension certificates have appealed the bankruptcy court's recent approval of a settlement with the counterparties that hold interest-rate swaps hedging the certificates.

COLORADO

ARKANSAS

President Obama sent to Congress a $302 billion, four-year surface transportation funding bill that ends the prohibition on tolling existing interstate highways.

IOWA

INDIANA

Re-introducing the Build America Bonds program would once again drive much-needed infrastructure spending and broaden the buyer base to non-traditional taxable investors, while at the same time providing a complementary alternative to the currently challenged landscape of the traditional tax-exempt market.

Wells Fargo links limited supply of transportation infrastructure bonds to uncertainty over federal funding.

With two new settlements in hand, Detroit's attorneys at a hearing Monday touted the city's recent progress, with the judge calling the series of deals unprecedented in Chapter 9 history.

Settlements are coming quickly now in the Detroit bankruptcy case, as the city Monday announced a deal with a coalition of unions over collective bargaining agreements.

The federal judge overseeing Detroit's bankruptcy will consider final approval of a key bankruptcy document Monday that includes a fresh settlement reached with retirees late Friday.