Public finance

Flows into municipal bond mutual funds remained positive. Barely. Those funds that report their flows weekly saw $260 million of inflows for the week ended Sept. 5.

Tax-exempt money market funds lost $1.70 billion and total net assets declined to $268.31 billion in the week ended Sept. 3 -- the second consecutive week of significant losses, according to The Money Fund Report, a service of iMoneyNet.com.

A public-private partnership to develop a $400 million light rail line in San Juan, P.R. might utilize parking revenue, fares, and other sources to finance the project, according to city officials.

Table as of: 09/05/2012 11:48 AM Invisible Supply Issuer and purpose Amount

ARKANSAS

ALABAMA

Firms from four countries as well as the U.S. expressed interest in participating in a public-private partnership to construct a street car system in the District of Columbia.

ILLINOIS

CALIFORNIA

NEW YORK

CALIFORNIA

This week will be short on days and, yet again, slight of issuance for the municipal bond market. Industry calculations hold that muni bonds expected to be sold this week should total $1.89 billion, versus a revised $2.18 billion million last week.

Long-term municipal bond volume last month easily outstripped that of the same period in a relatively issuance-starved August 2011.

Van Eck Global will soon unveil an addition to its current municipal exchange-traded fund line-up, as the firm has filed with the Securities & Exchange Commission to launch the Market Vectors Short High-Yield Municipal Index ETF.

Memphis-based, fixed-income broker-deal Carty & Co. has expanded its new public finance division into Alabama, with an eye toward other states in the Southeast.

CALIFORNIA

CALIFORNIA

Many market participants may be on vacation, but there's still interest in municipal bond mutual funds. Flows to muni bond funds rose on the week, keeping their hot streak alive.

The municipal market may have been in holiday mode this week, but there has been noticeable activity by institutions in the secondary, traders reported. The week's light issuance in the primary market was well received, as demand remained robust for tax-exempts.

BondDesk Group LLC has appointed former UBS head of municipal trading John Bagley as president and senior managing director of BondDesk Trading.