Intermediates, Long-Terms Get Boost From Treasuries' Swing Into Positive

Johnson, Anastasija
January 2005
Bond Buyer;1/21/2005, Vol. 351 Issue 32054, p2
Trade Publication
This article reports that the municipal bond market remained mixed yesterday, but intermediate and long term securities received a boost after treasuries swung into positive territory following an unexpected decline in a regional manufacturing report. The long-end of the government bond market has rallied since the start of the year as investors bought bonds in a bet that expected Federal Reserve rate hikes would keep inflation in check. The Florida Board of Education sold $295 million of public education capital outlay refunding bonds in a competitive sale. Lehman Brothers Inc. won the deal and re-offered them at yields ranging from 2.63% in 2008 to 4.15% in 2021.


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