TITLE

Muni Yields Rise on Falling Treasuries; Morgan Stanley Prices N.Y.C GO Deal

AUTHOR(S)
Johnson, Anastasija
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/28/2003, Vol. 344 Issue 31644, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Municipal bond yields rose one to four basis points on May 29, 2003 following the decline of Treasuries, while in the new-issue market, Morgan Stanley & Co. opened the first day of an expected two-day retail order period for 650 million dollar of New York City general obligation bonds. Jonathan Basile, economist at Credit Suisse First Boston, said the latest economic data reflected some improvement on the demand side of the economy. Regarding the tax deduction package approved by the Congress, George Friedlander, a fixed-income strategist at Citigroup Global Markets Inc., said that the reduction of tax rates on dividends would not have a significant impact on the demand for municipal bonds, but would influence bonds subject to alternative minimum tax.
ACCESSION #
9944947

 

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