Munis Climb With Support From Treasuries; New Deals See Demand

Curran, Bill; Johnson, Anastasija
February 2005
Bond Buyer;2/10/2005, Vol. 351 Issue 32068, p2
Trade Publication
The article reports that the municipal market climbed higher, as Treasuries supported tax-exempts and several new issues found sufficient demand from investors in the United States. Traders said that yields fell by two or three basis points as bonds continued a rally when lower-than-expected January non-farm payrolls eased inflationary fears. Despite a short-lived attempt to buck a seemingly relentless flattening trade, Treasuries buoyed municipals as the government market pushed into positive territory when participants showed strong demand for $15 billion auction of five-year notes.


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