Yields Drop One to Five Basis Points at $1.5B Dallas-Ft. Worth Repricing

Chesla, Nicholas
May 2003
Bond Buyer;5/1/2003, Vol. 344 Issue 31626, p2
Trade Publication
Municipals bond yields fell two or three basis points on May 1, 2003 while yields were lowered between one and five basis points at a repricing of 1.5 billion dollar Dallas-Fort Worth International Airport Board joint revenue bonds. Conrad DeQuatros, an economist at Bear, Stearns & Co., said the decline in the Chicago purchasing managers index suggested the manufacturing sector remained weak, which would likely be confirmed in the April 2003 Institute for Supply Management manufacturing index. The tax-free money market funds' average annualized seven-day yield rose eight basis points to 0.77 percent, which remained at a record low 0.71 percent on May 29, 2003 for the second consecutive week, according to iMoneyNet Inc.


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