Public finance

A Chicago-based broker dealer has launched an electronic platform executives say will help ensure new-issue municipal bonds reach retail investors efficiently and at fair prices.

INDIANA

ALABAMA

The municipal bond market will enter the Thanksgiving holiday from a position of strength. Muni bond indexes heading into the holiday fell on all but the short end to levels not seen in more than 47 years.

There is more new leadership at the American Association of State Highway and Transportation Officials, as the group voted this week to elect Rhode Island Transportation Director Michael Lewis as the association's president for the next year.

ILLINOIS

ALABAMA

Moody's has told MBIA Inc. that it will consider downgrading bond-insurer National Public Finance Guarantee Corporation, parent-company MBIA Inc. and sister-company MBIA Corp.

The impact of the rapidly approaching fiscal cliff could devastate U.S. debt-financed infrastructure if Congress fails to find an alternative combination of cuts and revenue measures, Fitch Ratings said Monday.

INDIANA

ALABAMA

The Thanksgiving holiday brings a light calendar this week from municipal bond issuers, at $2.25 billion, while investor demand remains considerable and yields hover at record lows.

Two Virginia groups representing local governments have joined the opposition to Gov. Bob McDonnell's and the state Department of Transportation's plan to toll Interstate 95.

A congressional panel grilled members of the Metropolitan Washington Airports Authority board Friday morning in a hearing called to examine a scathing report on the bond-issuing agency's ethical practices and policies.

CALIFORNIA

ALABAMA

Another strong week of inflows for municipal bond mutual funds indicated sustained heightened demand for munis. Funds that report their flows weekly recorded inflows of $706 million for the week ended Nov. 14.

Back-to-back holiday weeks combined with robust demand have kindled a strong rally in the municipal market and driven some muni bond indexes to levels they haven’t seen in more than 45 years.

An Alberta, Canada-based financial publisher seeking to streamline the investing experience for municipal bond buyers has acquired Municipalbonds.com.

Moody's Investors Service has downgraded 27 grant anticipation revenue vehicle bonds, totaling about $10 billion in par value.