Public finance

Frederick "Bud" Wright is expected to become the new executive director of the American Association of State Highway and Transportation Officers early next year, sources said Tuesday.

The federal government should both exempt private activity bonds from the alternative minimum tax and create a national public-private partnership office to help state and local governments put deals together according to Brookings Institution reports issued Tuesday.

IOWA

ALABAMA

Municipals marked a day of rest following a torrid week of buying and record-setting yields as the bond markets closed for Veterans Day. Industry watchers said they were optimistic about investor demand and the overall state of the market.

The municipal market earned a day of rest after its torrid week of buying and record-setting yields. While the bond markets are closed for Veterans Day, industry watchers are optimistic about investor demand and the overall state of the market.

The municipal market, glad to mark the end to election-related uncertainty and hurricane-generated disruption, still has yet to reach seasonal average volumes. This week's calendar should total $7.61 billion.

California's non-partisan Legislative Analyst said the state's use of public-private partnerships has fallen short by using unclear processes and picking unsuitable projects.

The MSRB, to boost trade transparency, announced that the par amount of trades of less than $5 million will now be posted on the EMMA system in real time.

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.