TITLE

Munis Sell Off After Fed Funds Rate Increase, FOMC Inflation Warning

AUTHOR(S)
Johnson, Anastasija; Curran, Bill
PUB. DATE
March 2005
SOURCE
Bond Buyer;3/23/2005, Vol. 351 Issue 32096, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that the municipal bond market sold off yesterday after the Federal Reserve increased its fed funds rate 25 basis points to 2.75% as expected. Suggestion that pressures on inflation have picked up in recent months and pricing power is more evident; Assertion that market interpreted the Federal Open Market Committee statement as a signal for more rate hikes in future; Surge in the yield on two-year Treasury notes.
ACCESSION #
16520234

 

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