Public finance

Table as of: 10/02/2012 15:46 PM Invisible Supply Issuer and purpose Amount

ALABAMA

ARKANSAS

Fitch Ratings increased the rate of public finance downgrades in the second quarter of this year compared to the first quarter.

Moody's says a new form of commercial paper could provide a liquidity solution for variable-rate municipal issuers facing impending Basel III problems.

The U.S. Court of Appeals for the Federal Circuit heard oral arguments Tuesday in the case of Corr V. Metropolitan Washington Airports Authority, a lawsuit that strikes at MWAA's primary mechanism of repaying more than $2 billion of bond debt.

ILLINOIS

CALIFORNIA

Ron Schwartz is director of the tax-exempt portfolio management at StableRiver Capital Management. He has managed the firm's High-Grade Municipal Bond and the Investment Grade Tax-Exempt Bond funds both since inception.

ARKANSAS

CALIFORNIA

Table as of: 09/28/2012 17:17 PM Invisible Supply Issuer and purpose Amount

Anticipated municipal market issuance has leveled off for a third consecutive week. Potential volume for the week is expected to total $7.45 billion, down a couple of ticks from sales of $7.47 billion last week.

Municipalities eased off the throttle last month, marking the first break this year for increases in new issuance. Long-term muni bond volume for September fell 9% from the same period in 2011.

Pennsylvania, the latest state to issue unemployment compensation revenue bonds, plans to go to market Monday and Tuesday with $2.6 billion.

CALIFORNIA

CALIFORNIA

Continuing last week's outflow pattern, tax-exempt money market funds lost $1.49 billion as total net assets declined to $268.31 billion in the week ended Sept. 24, according to The Money Fund Report, a service of iMoneyNet.com.

Table as of: 09/26/2012 14:55 PM Invisible Supply Issuer and purpose Amount

ARKANSAS