Muni Yields Fall 3 to 5 Basis Points; $323M Sacramento Refunding Priced

Chesla, Nicholas; Johnson, Anastasija
June 2003
Bond Buyer;6/4/2003, Vol. 344 Issue 31649, p2
Trade Publication
This article presents information about developments in the finance market of the United States as of June 3, 2003. Municipal yields declined between three to five basis points while pricing of a 323 million dollar Sacramento Municipal Utility District refunding loan led the new-issue market. While demand from direct retail has declined, it has held in surprisingly well in spite of the decrease in yields to historical low levels. In the competitive sector, Goldman Sachs & Co. won 271 million dollars of Los Angeles, California wastewater system subordinate revenue bonds out of four bids.


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