Short and Intermediate Munis Slip Due to Productivity Data Pressure

Johnson, Anastasija; Curran, Bill
February 2005
Bond Buyer;2/4/2005, Vol. 351 Issue 32064, p2
Trade Publication
The article reports that municipal bond prices in the short and intermediate range slipped yesterday, as productivity data pressured the market at the start of trading and many participants assumed a defensive stance ahead of a key January non-farm payrolls report due today. The monthly payrolls report tends to be followed by large price swings if the data comes in substantially below or above expectations. Economists polled by IFR BondData Americas forecast a 190,000 increase in non-farm payrolls in January after the economy created 157,000 new jobs in December.


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