Federal budget talk spurs arbitrage buys

Kuiper, Mark T.
February 1998
Bond Buyer;02/05/98, Vol. 323 Issue 30325, p35
Trade Publication
Reports on the buying spree among arbitrage traders for municipal bond contract in March 1998 following speculation that US President Bill Clinton's federal budget will contain a provision making municipal bonds less attractive to property and casualty insurance companies. Proposed reduction of the amount of interest that property and casualty firms can deduct from tax-exempt investments.


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