TITLE

Scarce Calendar, Seasonal Demand Unable to Rouse Munis, Which Fall

AUTHOR(S)
Johnson, Anastasija; Curran, Bill
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/23/2004, Vol. 350 Issue 32036, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the U.S. municipal bond market which finished little changed to a touch easier, as minor losses in Treasuries translated into lower prices on the bid side, despite tight technical conditions created by lack of supply, and seasonal reinvestment demand. A trader in New York said that he was able to fill orders a basis point cheaper than if he had bought the same bonds, but added that this softer tone "was nothing dramatic," given that interest rates in general remained range-bound. Ten-year and 30-year Treasury yields were three basis points higher, as the market returned to negative territory after an attempt to push it higher failed.
ACCESSION #
15479649

 

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