TITLE

Surprise Surge in Core PPI Drives Muni, Treasury Prices Downward

AUTHOR(S)
Johnson, Anastasija; Curran, Bill
PUB. DATE
February 2005
SOURCE
Bond Buyer;2/22/2005, Vol. 351 Issue 32075, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the municipal bond market in the U.S. succumbed to selling pressure when an unexpected surge in the core producer price index sparked inflationary worries and pushed tax-exempt and government bond prices lower. At the end of an abbreviated session ahead of the long Presidents Day holiday weekend, bond yields were adjusted five to eight basis points higher and prices fell as traders desperately tried to find buyers, who were in general either more interested in new-issue product or waiting for still cheaper levels.
ACCESSION #
16213011

 

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