TITLE

'Painful' Day for Munis as Treasuries Slip

AUTHOR(S)
Curran, Bill
PUB. DATE
June 2006
SOURCE
Bond Buyer;6/23/2006, Vol. 356 Issue 32409, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports the weakening of the municipal market in the U.S. as sell-off in Treasuries ahead of a meeting of the Federal Open Market Committee forced government bond yields to multi-year highs. Experts claimed that tax-exempt yields has risen by three to four basis points as prices fell. The decline was attributed, in part, to market illiquidity due to a lack of buy-and-hold investors.
ACCESSION #
21387419

 

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