Munis Hold Early Gains, Treasuries Mixed Following Dec. Payroll Report

Curran, Bill
January 2005
Bond Buyer;1/10/2005, Vol. 351 Issue 32046, p2
Trade Publication
The article reports that longer-term municipal securities held onto early gains in the bond market, while the treasury market was mixed due to non-farm payrolls report. Traders said that the yields fell one or two basis points as prices increased on municipals with maturities longer than five years. Prices on shorter-dated paper were unchanged to slightly lower. While treasuries failed to provide clear direction, the seasonal need to invest coupon payments gave the municipal market a firmer tone.


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