Muni Yields Down 2 to % Basis Points; Lehman Wins $111M of MARTA Debt

Johnson, Anastasija
May 2003
Bond Buyer;5/13/2003, Vol. 344 Issue 31634, p2
Trade Publication
Municipal bond yields fell between two and five basis points on May 12, 2003 while in the new-issue market Lehman Brothers Inc. won 111.6 million dollars of Metro Atlanta Rapid Transit Authority sales tax revenue bonds. In municipals, light trading volume, combined with muted demand from individual investors due to the absolute low level of rates and lack of bonds available at par or a discount, led to“a very, very quiet session.” Bonds due 2008 yielded eight basis points more than MMD's Friday triple-A yield curve scale, a 2013 maturity yielded 13 points more and a 2023 maturity yielded 20 points more.


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