TITLE

Muni Yields Unchanged, tone Firm As Pre-Holiday Week Ends Early

AUTHOR(S)
Johnson, Anastasija
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/27/2003, Vol. 344 Issue 31643, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that while the underlying tone in the municipal bond market in the U.S. remained firm, yields were unchanged on May 23, 2003 as trading slowed down ahead of the Memorial Day weekend. Long-term bonds continued to benefit from expectations that the economy would remain weak and that the Federal Reserve would step in if additional economic stimulus was needed. Leading the negotiated sector, Morgan Stanley & Co. is expected to price $650 million of New York City general obligation bonds, while J.P. Morgan Securities Inc. is scheduled to price $152 million of Hillsborough County, Florida, Aviation Authority airport revenue bonds. In the competitive sector, the Maryland Department of Transportation is expected to sell $195 million consolidated transportation bonds.
ACCESSION #
9957314

 

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