Muni Yields Rise Two Basis Points; N.Y.C. TFA Prices $550 Million

Chesla, Nicholas
April 2003
Bond Buyer;4/2/2003, Vol. 344 Issue 31606, p2
Trade Publication
Municipal bond yields rose two basis points on April 2, 2003, while in the new-issue market underwriters priced 550 million dollars of New York City Transitional Finance Authority future-tax-secured bonds. Treasuries were mostly lower while equities gained, in part due to renewed speculation about whether Iraqi President Saddam Hussein was alive and about the progress of coalition forces. Meanwhile, governments showed little reaction when the Institute for Supply Management's (ISM) March 2003 manufacturing index declined to 46.2 from 50.5 in February 2003, while February construction spending declined 0.2 percent.


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