Municipals Rise 3 to 5 Basis Points; $1.51B Puerto Rico Road Deal Opens

Chesla, Nicholas
April 2003
Bond Buyer;4/8/2003, Vol. 344 Issue 31610, p2
Trade Publication
Municipal bond yields in the U.S. rose between three and five basis points on April 8, 2003 in light trading while underwriters opened a retail order period on 1.51 billion dollars of Puerto Rico Highway and Transportation Authority bonds in the new-issue market. Consumer credit in February rose 1.02 percent to $1.74 trillion. Municipal yields rose between three and five basis points reflecting weakness in treasuries while market participants stayed on the sidelines waiting for new issues to establish levels.


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