Yields Slip 3 Basis Points as Georgia, N.Y. EFC, and DISD Bring New Deals

Chesla, Nicholas; Johnson, Anastasija
June 2003
Bond Buyer;6/25/2003, Vol. 344 Issue 31664, p2
Trade Publication
This article presents an insight into developments in bond markets on June 24, 2003. Georgia, the New York State Environmental Facilities Corp., and the Dallas Independent School District introduced more than $400 million in new loans while cash bond yields fell three basis points. Meanwhile, Federal Reserve Board policy-makers began their deliberations ahead of an announcement on interest rates, due early this afternoon. Lara Rhame economist at Brown Brothers Harriman & Co. said various factors, which included fiscal stimulus, improvements in economic data and higher stocks, indicated the U.S. economy was set to grow at a faster pace in the second half of the year, making a 25 basis point easing more likely than a larger cut. In the competitive sector, Citigroup Global Markets Inc. bought $151 million of Georgia GOs with a low interest cost of 3.72%.


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