Munis Stuck in a Narrow Range; FOMC Hikes Rate 25 Basis Points

Johnson, Anastasija; Curran, Bill
February 2005
Bond Buyer;2/3/2005, Vol. 351 Issue 32063, p2
Trade Publication
The article reports that the Federal Open Market Committee once again met market expectations yesterday when it raised its target inter-bank lending rate 25 basis points to 230%, leaving municipal bonds stuck in a narrow range until the next potentially market-moving event. Traders said that the tax-exempt market felt a little heavy before the FOMC in the afternoon announced its sixth consecutive rate hike since last June but returned to unchanged levels on discovering no unpleasant surprises in the statement that accompanied the interest rate decision.


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