Munis Weaken As Market Tries Again to Sell Sizeable New Issues

Johnson, Anastasija; Curran, Bill
October 2004
Bond Buyer;10/28/2004, Vol. 350 Issue 31999, p2
Trade Publication
The article presents information that the municipal bonds weakened yesterday as the bid side eroded in sympathy with Treasuries and the market attempted to distribute the second batch of sizeable new issues, including a $799 million Massachusetts new-money and refunding offering. Strong new home sales and a 0.2% rise in September durable goods orders as well as a weak two-year note auction contributed to the decline in the Treasury market. As Treasury losses widened, the bid side in the municipal bond market began to erode.


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