Munis Unchanged; Retail Ends for $129 Million N.Y. State Water Deal

Chesla, Nicholas; Johnson, Anastasija
June 2003
Bond Buyer;6/24/2003, Vol. 344 Issue 31663, p2
Trade Publication
The article reports on developments related to municipal bond markets on June 23, 2003 in the United States. Yields on municipal bonds were little changed, while in the new-issue market underwriters received roughly $24 million in orders by the conclusion of a retail order period on $129 million of New York State Environmental Facilities Corp. revolving funds revenue bonds. Traders reported some, though not universal, distribution of bonds from recent new issues at cheaper levels. The market was in a state of unstable equilibrium with factors likely to keep interest rates down counterbalanced by economic stimuli which could lead to a rebound in rates.


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