TITLE

Quarter Sets New Record For Volume

AUTHOR(S)
Walker, Susanne
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/1/2003, Vol. 344 Issue 31605, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Issuers seized on dramatically low interest rates in the first three months of 2003 to push volume up to the highest first quarter on record in the long-term municipal bond market.Total volume slightly eclipsed 83.5 billion dollars, a giant leap over the first quarter record of 71.65 billion dollars set in 1998, according to preliminary figures from Thomson Financial Inc.A prewar flight to quality in March 2003 led investors to pump money into bonds, in response to economic uncertainty stemming from the conflict with Iraq.On the week of March 17 2003, municipal bonds backed up 20 basis points when the perception was that the war with Iraq would end quickly, said Gary Strumeyer, managing director at BNY Capital Markets.
ACCESSION #
9504480

 

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