Public finance

ARKANSASJonesboro (City)Jun 18, 2009 . . . . . . $11,925,000

The 10-year muni-Treasury ratio is back to normal. Whether it will stay there is debatable.

The torrential downpour of cash upon municipal bond mutual funds has eased to mere rainfall.

The municipal market this week will again see a generous slate of new issues, led by $800 million of personal income tax revenue bonds from the Dormitory Authority of the State of New York in the long-term market and $500 million of Idaho tax anticipation notes in the short-term market.

ARKANSASFayetteville School District No. 1 of Washington CountyJun 18, 2009 . . . . . . $10,000,000

ARIZONATucson (City)Jun 17, 2009 . . . . . . $38,450,000

New York Life Investment Management agreed to buy the municipal bond firm Mariner Municipal Managers for an undisclosed amount, the company said this week.

The quarterly corporate-tax payment deadline on Monday was a key contributor of noticeable outflows among money market funds this week.

The Bond Buyer’s yield indexes were narrowly mixed this week, as three sessions of losses were sandwiched between two days of gains.

ARKANSASBauxite School District No. 14 of Saline CountyJun 17, 2009 . . . . . . $1,045,000

CALIFORNIACalifornia School Cash Reserve Program AuthorityJun 16, 2009 . . . . . . $535,235,000

ARIZONAPinal County Community College DistrictJun 16, 2009 . . . . . . $40,000,000

CALIFORNIACalifornia Infrastructure and Economic Development BankJun 9, 2009 . . . . . . $6,500,000

An atrocious three months for stocks chased retail investors to the safer perches of government bonds in the first quarter of the year, enabling state and local governments to continue borrowing.

ILLINOISPalatine VillageJun 15, 2009 . . . . . . $2,510,000

ARIZONABuckeye Elementary School District No. 33May 29, 2009 . . . . . . $3,500,000

IOWACentral City (City)Jun 10, 2009 . . . . . . $900,000

CALIFORNIACalifornia Health Facilities Financing AuthorityJun 11, 2009 . . . . . . $139,565,000

On the heels of the minor weakness that crept into both the short and long ends of the municipal market late last week and the glut of new supply that investors digested, this week's primary market again calls for a generous slate of new issues that will continue to test buyers' appetites.

Investors continued to lavish heaps of cash on municipal bond mutual funds last week as people shrugged off the surge in Treasury yields and kept taking more risk.