Treasuries Give Tax-Exempts Boost In New Year's First Trading Session

Johnson, Anastasija
January 2005
Bond Buyer;1/4/2005, Vol. 351 Issue 32042, p2
Trade Publication
The article reports that the US Treasury has given the tax-exempt market a positive tone on the first trading session of the year. Traders reported that there were attempts to buy bonds cheaper in early trading yesterday, but the bid side had to come closer to the offer side once 10-year government notes and 30-year bonds moved into positive territory. According to manufacturing data released by the Institute for Supply Management, the index rose to 58.6 in December from 57.8 in November. Furthermore, it is expected that compared to previous two weeks, municipal issuance is slated to pick up this week, but will still remain relatively low.


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