Public finance

CONNECTICUT

ILLINOIS

To keep the Highway Trust Fund solvent in 2015, Congress would need to eliminate highway and mass transit spending from the fund, raise taxes on motor fuels by about 10 cents/gallon or transfer about $15 billion from the general fund, a Congressional Budget Office official told lawmakers Tuesday.

IOWA

ALABAMA

The Obama administration said on Monday that the president will veto the fiscal 2013 appropriations bill for the Departments of Transportation and Housing and Urban Development pending in the House if it is enacted in its current form because of cuts to bond-related and other programs.

Table as of: 07/19/2013 11:10 AM Invisible Supply Issuer and purpose Amount

MASSACHUSETTS

ALABAMA

Volume in the new-issue market this week will slow to $5.54 billion, down from the robust pace of last week when municipals weakened under heavy supply.

Detroit bankruptcy, substantial outflows, heavy calendar, Ben Bernanke, economic indicators -- the municipal market had a wealth of drivers vying for influence on yields this week.

The municipal market started Friday unaffected by Detroit's Chapter 9 bankruptcy filing Thursday afternoon, the biggest in history.

Heavy outflows, at $1.56 billion, endure for municipal bond mutual funds as investor demand for tax-exempts continues to flag.

ALABAMA

ALABAMA

The Bond Buyer's weekly yield indexes were narrowly mixed the week ended July 18.

Municipal bond mutual funds continue to hemorrhage money as investor demand remains low.

Robust activity, largely driven by new issuance, propelled the municipal market through Thursday.

The U.S. Department of Transportation has suspended consideration of a $5.5 billion loan request for a high-speed rail project from Las Vegas to Southern California.

Tax-exempt money market funds suffered $852.6 million in outflows, offsetting part of the previous week's gain, as total net assets dipped to $265.13 billion in the week ended July 15, according to The Money Fund Report, a service of iMoneyNet.com.