Munis End Higher, Treasures Rise As Oil Prices Reach Record Levels

Johnson, Anastasija
October 2004
Bond Buyer;10/13/2004, Vol. 350 Issue 31988, p2
Trade Publication
The article claims that municipal bond prices finished higher as oil prices hit a new record level sending treasuries higher, in a move that encouraged better bids in the tax-exempt sector. These gains come on top of the advance the tax-exempt market made Friday, when weaker-than-expected employment figures raised concerns about the pace of economic growth and sent bond markets rallying. Treasuries tend to rise when oil prices go up, as higher energy costs are expected to slow down the economy and eventually bring about a break in Fed tightening.


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