Munis Unchanged Ahead of FOMC Minutes Release

Curran, William; Scarchilli, Michael
May 2006
Bond Buyer;5/31/2006, Vol. 356 Issue 32392, p2
Trade Publication
The article reports that the municipal bond market seemed unchanged in the last week of May, 2006 just before the release of the minutes of the May 10 meeting of the Federal Open Market Committee in the United States. The investors were cautious after the holiday weekend to buy securities but those who are in the field will receive $39.2 billion in June 2006, which is a higher amount than any other recent months. In July the bonds will bring another $35.4 billion of potential reinvestment income. The tax exemption calendar also is weaker in the last week of May with only $3.6 billion of long-term bonds scheduled for sale.


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