Yields Fall 1 to 2 Basis Points; Retail Ends for $2.15B N.Y. Tobacco Sale

Chesla, Nicholas; Johnson, Anastasija
June 2003
Bond Buyer;6/10/2003, Vol. 344 Issue 31653, p2
Trade Publication
Municipal bonds yields fell two basis points on June 9, 2003 while underwriters concluded a retail order period on 2.15 billion dollars of New York State Tobacco Settlement Financing Corp. asset-backed tobacco bonds in which roughly 153 million dollars in orders were received. In the new-issue market, Citigroup Global Markets Inc. The issue contains 400 million dollars non-callable and 1.75 billion dollars of callable bonds. Arbitrageur accounts continued to lend support to the market amid declining treasury yields, cheap tax-exempts and day-to-day volatility.


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