Public finance

Tax-exempt money market funds started the New Year on a positive note, amassing $3.66 billion in new cash to end the week ending Jan. 3 with $332.16 billion.

CONNECTICUTConnecticut Regional School District No. 18Jan 5, 2011 . . . . . . $5,000,000

COLORADOPublic Finance AuthorityJan 4, 2011 . . . . . . $8,375,000

Table as of: 01/05/2011 15:05 PM Invisible Supply Issuer and purpose Amount* Approval

No sooner did Build America Bonds become orphaned than they caught fire.

CALIFORNIACalifornia Enterprise Development AuthorityDec 29, 2010 . . . . . . $37,200,000

KANSASAshland (City)Jan 3, 2011 . . . . . . $250,000

Table as of: 01/03/2011 15:44 PM Invisible Supply Issuer and purpose Amount* Approval

CALIFORNIACalifornia Enterprise Development AuthorityDec 29, 2010 . . . . . . $30,000,000

CALIFORNIACalifornia Enterprise Development AuthorityDec 30, 2010 . . . . . . $45,000,000

Municipalities will continue their hiatus from borrowing money this week as they are once again slated to sell a meager amount of new debt.

Municipal bond mutual funds coughed up more cash last week as investors continue to take their money out of state and local government debt funds at a record pace.

NEW YORKDelhi VillageDec 29, 2010 . . . . . . $3,169,000

CALIFORNIACalifornia Pollution Control Financing AuthorityDec 22, 2010 . . . . . . $4,850,000

Tax-free money market funds commanded new money from investors last week — the second straight week of inflows — possibly marking an ebb, or at least a slowdown, to the rush of cash away from money funds the past two years.

Holiday doldrums coupled with a Sunday blizzard that buried much of the Northeast conspired to keep the secondary market very quiet.

Table as of: 12/28/2010 13:32 PM Invisible Supply Issuer and purpose Amount* Approval

PENNSYLVANIAYork County Industrial Development AuthorityDec 27, 2010 . . . . . . $3,400,000

MFS Investment Management's Municipal High Income Fund is a gem of consistency. In late December 2010, it was sporting a 4.57% year-to-date return — good enough to lead the average performance of its peers by three-quarters of a percentage point.

MISSISSIPPIMississippi Development BankDec 21, 2010 . . . . . . $10,395,000