Public finance

Three sizable Ohio deals, a large New York City utility financing, and a two-pronged Texas education sale greet investors as part of an estimated $6.72 billion of new issues in the first full week of trading and underwriting after the late summer holidays, according to Ipreo LLC and The Bond Buyer.

Retail investors ignored the pullback in the state and local government debt market last week, ­committing the third-heaviest slug of new money to ­municipal bond mutual funds this year.

ARKANSASCedarville School District No. 44 of Crawford CountySep 9, 2010 . . . . . . $2,650,000

ARIZONAPima County Industrial Development AuthoritySep 9, 2010 . . . . . . $15,790,000

Tax-exempt money market funds managed to attract inflows for the first time in nearly a month, adding a modest $244.5 million for the week ended Sept. 6 to finish with $338.1 billion in total net assets, according to the Money Fund Report, a service of iMoneyNet.com.

Nearly all The Bond Buyer’s yield indexes rose this week, as tax-exempts weakened throughout the holiday-shortened week, erasing some of the pronounced gains taken in August.

Table as of: 09/08/2010 12:47 PM Invisible Supply Issuer and purpose Amount* Approval

ARKANSASBergman School District No. 3 of Boone CountySep 8, 2010 . . . . . . $2,360,000

GEORGIARabun County Development AuthoritySep 8, 2010 . . . . . . $15,975,000

A grand-slam judgment last month has emboldened the lawyers and investors seeking to recoup losses on $2 billion in municipal arbitrage funds run by Citigroup.

COLORADOBoulder (City)Sep 7, 2010 . . . . . . $9,980,000

NEBRASKAArcadia Public School District No. 21Sep 7, 2010 . . . . . . $159,841

INDIANAClark CountySep 2, 2010 . . . . . . $2,000,000

ARKANSASArkansas Student Loan AuthoritySep 1, 2010 . . . . . . $267,500,000

Investors continue to stuff cash into municipal bond mutual funds, exacerbating a supply-demand imbalance that has kept yields on tax-exempt bonds near historic lows.

With much of the market still in vacation mode following Monday’s Labor Day holiday, Minnesota plans to issue $899.6 million of general obligation bonds in the only sizable deal expected to arrive this week.

The dearth of tax-exempt issuance and exodus of investors from volatile equity markets have translated into lower yields across the curve in the traditional municipal market, prompting some analysts to question whether long-bond buyers will continue to assume the duration risk for such minimal gains.

ARKANSASBearden School District No. 53 of Ouachita CountySep 2, 2010 . . . . . . $2,570,000

ALABAMAHuntsville (City)Sep 1, 2010 . . . . . . $173,240,000

The Bond Buyer’s weekly yield indexes were narrowly mixed, with some dipping to 43-year lows while others increased.