Public finance

Municipal bonds scheduled for negotiated sale next week (Nov. 12-16, 2012) are estimated at $6,628.0 million, up from $3,686.9 million sold this week (Nov. 5-9, 2012).

CALIFORNIA

ALABAMA

Bond insurer's Assured Guaranty Ltd.'s operating income improved in the third quarter of 2012 to $166 million from $38 million in the third quarter of 2011.

Municipal bond mutual funds saw heavy inflows, rebounding with authority from their first week of outflows in more than six months.Those funds that report their flows weekly recorded inflows of $866 million for the week ended Nov. 7.

After a storm of unusually high outflows last week, investors who weathered the storm in the Northeast returned to money market funds with cash this week.

Results from the U.S. elections on Wednesday provided a record-breaking boost to a municipal market still recovering from last week's hurricane.

In a move to increase its public finance business, bond insurer Assured Guaranty has hired three senior professionals.

Rep. Bill Shuster, R- Pa., announced on Thursday his candidacy to serve as chairman of the House Committee on Transportation and Infrastructure.

The re-election of President Obama is a credit neutral event for non-profit hospitals, but looming changes in the federal landscape tied to the new health care law and budget deficit, present challenges, Moody's Investors Service said in a report Wednesday.

John Horsley and Jack Basso will take about 90 years of experience with them when they retire from the American Association of State Highway and Transportation Officials in February, and the two are disappointed to be stepping away from a very uncertain future.

Hawaii Finance Director Kalbert Young is concerned that other bond sales rescheduled after Hurricane Sandy could impact the Aloha State's $900 million sale planned for next week.

Peter M. Demirali, 52, of Mendham, N.J., a managing director at Cumberland Advisors, died suddenly on October 30, and a memorial service is planned for Nov. 17 at 11 a.m. in Queens, N.Y.

ALABAMA

ARKANSAS

Bond insurer parent company MBIA Inc. had an adjusted pre-tax loss of $118 million in the third quarter of 2012.

Overwhelming uncertainty surrounding the U.S. elections stands as the most likely cause industry watchers cite behind the first outflows municipal bond mutual funds reported in more than six months.

CALIFORNIA

CALIFORNIA

New York's MTA, restoring its subway and commuter rail systems after Hurricane Sandy's damage, will continue its flurry of bond activity this week.