Public finance

Municipal bond volume saw a slight bump for the month of October, continuing what has been an upward path for the issuance of new muni debt in 2012. Long-term muni bond issuance last month rose 3%, and has increased 39% for the year to date.

New York City Housing Development Corp. president Marc Jahr has been tapped as the chairman of the interim executive committee of Municipal Bonds for America, a coalition formed to stave off threats to tax exemption.

State transportation agencies are working together to develop strategies aimed at making investment in infrastructure more palatable to the public, as official fears of a rising investment gap meet public concerns about long-term debt.

MASSACHUSETTS

ALABAMA

Issuance in the municipal bond market should make a resounding return to pre-storm levels this week. Volume should total an estimated $7.06 billion, up from a hurricane-pared $1.66 billion last week.

The Bond Buyer queried some municipal market experts asking them their top concerns for the market depending on the outcome of the 2012 Presidential election. The fate of the municipal tax exemption was a major concern.

CALIFORNIA

ALABAMA

After 28 straight weeks of inflows to muni bond funds, the market saw outflow for the week ended Oct. 31. Funds that report their flows weekly recorded outflows of $123 million for the week ended Oct. 31, Lipper FMI numbers show.

Wary investors in the path of Hurricane Sandy contributed to the $1.10 billion of cash that flowed out of tax-exempt money market funds in the week ended Oct. 29.

Virginia Gov. Bob McDonnell blasted the Metropolitan Washington Airports Authority after a new U.S. Department of Transportation report found numerous flaws in its policies and procedures.

Moody's Investors Service, Standard & Poor's and Fitch Ratings directors say Hurricane Sandy could create a downward impact on a few of the most severely impacted credits.

Hurricane Sandy’s floodwaters immobilized much of the municipal market, but not the buyside. With bond issuance almost halted, investors are even more cautious and hesitant than they have been of late.

ARKANSAS

ALABAMA

Though they can often deliver infrastructure projects faster and at lower cost than traditional procurement, P3s are not a silver bullet and not always the right way to go, according to a new white paper released by the National Council for Public-Private Partnerships.

Because of Hurricane Sandy, Maui County, Hawaii, postponed the competitive sale of $70.1 million in general obligation bonds to Thursday at 1 p.m.

Hurricane Sandy left major challenges for many municipal bond firms after the Financial District of Manhattan was hammered hard by the storm.

Several Virginia municipalities have retained legal counsel to fight Gov. Bob McDonnell's plan to toll Interstate 95, which commonwealth officials have said could help close a $10 billion funding gap over the next 25 years.