TITLE

Munis Rally But Treasuries End Flat; Lehman Reprices $500M Phoenix Deal

AUTHOR(S)
Johnson, Anastasija; Curran, Bill
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/8/2004, Vol. 350 Issue 32025, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the U.S. municipal bonds which finished a touch better as price bumps on some new deals and strong bids in December 2004. Tax-exempt yields were quoted on or two basis points lower amid continuous buying interest, as the market tried to catch up with its taxable counterparts. Both markets rallied for two days on the back of weaker than expected employment data, but municipals had lagged Treasuries and were making up for it. Although gains were not very broad-based, traders said the long end of the market was lifted by strong bids.
ACCESSION #
15309098

 

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