TITLE

Bond Buyer Yield Indexes Fall Across the Board as long End Rallies

AUTHOR(S)
Johnson, Mathew
PUB. DATE
January 2005
SOURCE
Bond Buyer;1/14/2005, Vol. 351 Issue 32050, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that all of "The Bond Buyer's," weekly yield indexes fell as the long end of the municipal bond market rallied to catch up with the Treasury market as of January 14, 2005. While the yield curve is still relatively steep in the municipal market, it has flattened in U.S. Treasuries, making it increasingly difficult to sell bonds on the short end and harder to find supply on the long end, said Bob Jackman, a senior managing director at Bear, Steams ∧ Co. Inc. As a result, a spread-shortening correction in the municipal market is taking place and will continue in the near term because municipal market always lag the treasury market, said Paul Kuhns, managing director of underwriting at Merrill Lynch.
ACCESSION #
15684293

 

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