TITLE

Munis Weaken on Treasury Sell-Off; Yields Up 7 Basis Points on Offer Side

AUTHOR(S)
Johnson, Anastasija; Curran, Bill
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/30/2004, Vol. 350 Issue 32019, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on municipal bond market in the U.S. The municipal bond market weakened yesterday as a largely technical sell-off in Treasuries unnerved buyers and forced participants to cut their offerings. Traders said bond prices were marked down and yields increased at least seven basis points on the offer side, while the bid side eroded even more with yields quoted as much as 10 basis points higher in spots. Many participants returned after a shortened Thanksgiving trading week to find the yield on the benchmark 10-year note had broken through the 4.30% level for the first time since August, setting off a chain reaction in the municipal bond market.
ACCESSION #
15256351

 

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