Municipal Yields Rise as War Looms And FOMC Leaves Rate Unchanged

Chesla, Nicholas
March 2003
Bond Buyer;3/19/2003, Vol. 343 Issue 31596, p2
Trade Publication
Issuers brought more than 1.2 billion dollars in loans on March 18, 2003, led by a 675 million dollar refunding revenue bond deal involving the company Energy Northwest in Washington, while cash bond yields rose between four and five basis points. “There is a lot of uncertainty surrounding any war, ”said Patrick Fearon, economist at A.G. Edwards &Sons Inc. “It looks like the Federal Reserve Board is doing exactly what just about everyone else in the country is doing, which is taking a wait-and-see attitude to see how things progress in Iraq. Yields on Columbia Generating Station bonds were raised three basis points in 2010, by 13 basis points in 2012, and by 23 basis points in 2015. Yields on Project Number 3 bonds were raised five basis points in 2011 and 2012 and by three basis points in 2013, 2015, and 2017.


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