Go Lower for Yield? Depends How You View the Spreads

Albano, Christine
February 1999
Bond Buyer;02/23/99, Vol. 327 Issue 30584, p6
Trade Publication
Describes the investment strategies used by portfolio managers to compensate for the relatively low absolute yields on municipal bonds. Lack of supply across the board due to fierce competition for both high-yield and high-grade paper; Purchase of more lower-rated bonds; Moderate widening of creating spreads; Factors that have limited some managers' participation in the municipal market.


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