Primary Market Grabs Spotlight As Municipal Bonds Finish Mixed

Johnson, Anastasija
October 2004
Bond Buyer;10/27/2004, Vol. 350 Issue 31998, p2
Trade Publication
The article reports that Municipal bonds finished mixed yesterday as secondary trading took a backseat to the primary market, where underwriters priced the largest deal of the week, $ 1.88 billion of New York City Sales and Tax Asset Receivable Corp. revenue bonds. While underwriters bumped prices one or two basis points in the primary, an indication that deals were well-received, sellers outnumbered buyers in the secondary, as some participants wanted to sell bonds to make room for new issues or to realize profits. Traders said overall secondary price levels were little changed but noted that some bonds were quoted at least a basis point cheaper on the bid side.


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