TITLE

Sizeable Sales From Washington And New York Push Munis Down

AUTHOR(S)
Johnson, Anastasija; Curran, Bill
PUB. DATE
March 2005
SOURCE
Bond Buyer;3/2/2005, Vol. 351 Issue 32081, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that municipal bonds in the U.S. edged lower yesterday, with participants cutting prices on their offerings in order to move paper as supply began to weigh on the market, with New York and Washington selling $516 million and $492 million of bonds, respectively, amid other sizeable new issues. Municipal bond yields were adjusted an additional two to three basis points higher after they were raised as much as seven basis points Monday, when Treasuries sold off. The market began to sell off Monday just as participants needed to make room on their shelves for heavy new issuance, creating additional selling pressure.
ACCESSION #
16283803

 

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