Yields Up Fifth Consecutive Session; New-Issue Balances Dampen Trading

Chesla, Nicholas; Johnson, Anastasija
June 2003
Bond Buyer;6/23/2003, Vol. 344 Issue 31662, p2
Trade Publication
It has been reported that U.S. municipal bonds continued along the path to higher yields for the fifth consecutive trading session, rising three basis points on Friday as the U.S. Treasury declined. In the municipal arena, municipal bond yields rose by three basis points, reflecting weakness in the U.S. Treasury as balances from recent issues weighed on the market sentiment. As yields continued to rise for the fifth consecutive session, traders said that while a correction in the market had been overdue, participants had mixed views about the move to higher yields.


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