Public finance

Investors, still high on the muni market, continue to allocate money to municipal bond mutual funds, to the tune of $545 million.

With Congress and the Obama administration honed in on resolving the national budget crisis and avoiding the fiscal cliff, it's unlikely the already squeezed transportation sector will avoid a hit, predicted sector specialist Jane Garvy.

Panelists at the Bond Buyer's annual transportation and P3 conference said the newly expanded TIFIA program, combined with private activity bonds and yield-hungry investors are powerful tools for governments embarking on public-private transportation projects.

Table as of: 11/28/2012 15:31 PM Invisible Supply Issuer and purpose Amount

CONNECTICUT

CALIFORNIA

President Obama should seek federally-subsidized infrastructure bonds, a national infrastructure bank, and standardization of state tolling authority to help accomplish his infrastructure investment goals, the Center for American Progress said in a new report.

Table as of: 11/28/2012 15:30 PM Invisible Supply Issuer and purpose Amount

ARKANSAS

INDIANA

Lipper has revised its weekly municipal bond fund flows lower for the week ending Nov. 21 after an error with Goldman Sachs led the company to report higher flows.

Rep. Bill Shuster appears to have secured his chairmanship of the House Transportation and Infrastructure Committee after receiving the blessing of current chairman John Mica.

MASSACHUSETTS

ILLINOIS

Only seven state pension systems can lay claim to a strong 90% funded ratio while at least 21 states manage systems that fall below a "fiscally sound" threshold of 70% funded, Morningstar writes.

Charles Schwab announced Monday that it has joined with Piper Jaffray to provide clients access to Piper Jaffray's new issue municipal bonds through Schwab's BondSource® Platform.

IOWA

CALIFORNIA

A fairly brisk new-issue calendar will usher in the last week of the November – highlighted by an $800 million Florida aviation offering – and municipal players say the deals will satisfy post-holiday demand on the heels of dwindling supply last week.

Tax-exempt money market funds were boosted by $3.68 billion of inflows – one of the single highest weekly increases of the year – as assets swelled to $271.78 billion in the week ended Nov. 19, according to The Money Fund Report, a service of iMoneyNet.com.