Munis Finish Flat to Slightly Lower; Inactivity Discourages Price Cuts

Johnson, Anastasija; Curran, Bill
December 2004
Bond Buyer;12/29/2004, Vol. 350 Issue 32039, p2
Trade Publication
The article reports that municipal bond prices fell slightly lower level as market participants received uncertain direction from a Treasury market that fell through recent lows before climbing back to the unchanged mark. A trader in New York said the municipal market had a negative tone, but participants did not feel pressured lo lower prices. While bid-ask spreads widening because a lack of liquidity during the holiday season prompted buyers to demand a concession to protect themselves against possible price declines.


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