Public finance

ALABAMAAthens (City)Nov 8, 2010 . . . . . . $16,000,000

ILLINOISCrystal Lake Park DistrictNov 4, 2010 . . . . . . $1,500,000

ARIZONAFlorence Industrial Development AuthorityNov 5, 2010 . . . . . . $6,645,000

State and local governments generally will be able to take steps to address the economic turbulence they face without filing for bankruptcy or defaulting on their debt, Standard & Poor's said in a pair of reports released Monday.

Cash flows into municipal bond mutual funds last week were at the slowest pace since early in the financial crisis.

Underwriters are bracing for a challenging and busy week as a hefty $10.22 billion of new municipal volume heads to the primary market, according to Ipreo LLC and The Bond Buyer.

ARKANSASBryant School District No. 25 of Saline CountyNov 4, 2010 . . . . . . $14,065,000

ARKANSASNashville (City)Nov 4, 2010 . . . . . . $2,840,000

Build America Bonds have entered a world of their own. As the market braces for a blitz of taxable state and local government debt sales to close out the year, some experts expect the already-shaky correlations between BABs and other assets to break down.

Both tax-exempt and taxable money market funds lost cash in the weeks ending Nov. 1 and 2. Tax-exempt funds saw noticeably trimmed outflows compared with last week, while the taxable losses are in stark contrast to the previous week's short-lived period of inflows.

Heavy supply trumped easy monetary policy this week as muni yields mostly drifted higher despite the announcement of a second quantitative easing campaign from the Federal Reserve.

ARKANSASJonesboro School District No. 1 of Craighead CountyNov 3, 2010 . . . . . . $13,030,000

ALABAMALimestone County Water and Sewer AuthorityNov 3, 2010 . . . . . . $6,580,000

Dupree Funds is launching a taxable municipal bond fund this week, just the second effort at creating a mutual fund devoted to Build America Bonds.

Table as of: 11/02/2010 14:45 PM Invisible Supply Issuer and purpose Amount* Approval

CALIFORNIAMountain View-Whisman School DistrictNov 1, 2010 . . . . . . $2,645,000

CALIFORNIAYucaipa Redevelopment AgencyNov 2, 2010 . . . . . . $6,030,000

ILLINOISIndian Prairie Community Unit School District No. 204Nov 1, 2010 . . . . . . $770,000

ILLINOISCity of MomenceOct 18, 2010 . . . . . . $450,000

Money market funds continue to waive big chunks of their management fees as yields on cash instruments remain too low to charge the full amount.