Munis End Lower in Short Session Following Optimistic Economic Data

Johnson, Anastasija
September 2004
Bond Buyer;9/7/2004, Vol. 349 Issue 31963, p2
Trade Publication
The article presents information on the current developments in the U.S. stock market. It is reported that the municipal bond prices closed lower on Friday after the long-awaited August non-farm payrolls report painted a healthier picture of the labor market, sending Treasuries lower and prompting arbitrage selling in the exempt market. Although trading volume appeared to be light due to an abbreviated session and the long holiday weekend ahead traders said that the municipal bond yields were quoted five to seven basis points higher, as Treasury yields continued their ascent.


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