TITLE

Lehman to Raise Liquidity Levels, Use S&P Ratings

AUTHOR(S)
Johnson, Matthew
PUB. DATE
October 2004
SOURCE
Bond Buyer;10/13/2004, Vol. 350 Issue 31988, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the recent announcement made by Lehman Brothers Inc. to raise liquidity requirements and to begin incorporating Standard & Poor's ratings for most of its U.S. municipal bond indexes in 2005. Lehman maintains more than 2,500 rules based, market-value-weighted tax-exempt muni indexes to track the $2 trillion municipal bond market. The indexes are widely used by portfolio managers to benchmark their own performance against the broader market. The 2005 standards will raise the current minimum deal-size requirement to $75 million from $50 million for most of its indexes.
ACCESSION #
14718389

 

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