N.Y. Dorm Deal Leads $1.3 Billion In New Issues; Cash Bonds Weaken

Chesla, Nicholas
April 2003
Bond Buyer;4/30/2003, Vol. 344 Issue 31625, p2
Trade Publication
Roughly 1.3 billion dollars in major new loans came to the U.S. bond market on April 30, 2003 led by a 488 million dollars New York State Dormitory Authority hospital revenue bond, while cash bonds weakened. In the municipal arena, amid new-issue pricing, cash bond yields increased by as much as two or three basis points reflecting softness in Treasuries in light to moderate trading. “The secondary has been mostly quiet,” a traderin New York said. “It's partly because bonds in primary deals are coming cheaper than bonds in the secondary that people are tending to focus on the primary market.”


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