TITLE

Amid Thin Conditions, Munis Fall As Weak Dollar Sinks Treasuries

AUTHOR(S)
Johnson, Anastasija; Curran, Bill
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/28/2004, Vol. 350 Issue 32038, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the prices of municipal bonds fell sharply which pushed the yield on the benchmark 10-year note to 4.31%, the highest intra-day level since December 3, 2004. It stood at 4.21% before the market closed for the Christmas holiday. Traders said municipal bond yields were quoted three to five basis points higher, depending on maturity, as some participants started feeling uneasy about the bonds they held and became more flexible with their offerings. It appeared that the market suffered from a lack of buyers rather than massive selling, and activity was limited to seasonal retail reinvestment and end of the year readjustment of positions.
ACCESSION #
15505579

 

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