TITLE

Muni Yields Fall 2 to 3 Basis Points; $650M of New York City GOs Priced

AUTHOR(S)
Johnson, Anastasija
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/30/2003, Vol. 344 Issue 31646, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Municipal bond market yields fell two or three basis points on May 29, 2003, as Morgan Stanley & Co. priced and repriced 650 million dollars of New York City general obligation bonds after a two-day retail order period. John Ryding, senior economist at Bear, Stearns&Co., said the elevated level of jobless claims indicated the economy has not resumed job creation. Bonds due in 2008 yielded 67 basis points more than Municipal Market Data's May 28 triple-A yield curve scale, while a 2013 maturity yielded 75 basis points more. Serials due in 2008 and 2013 yielded two basis points less than MMD's Wednesday triple-A yield curve scale, while bonds maturing in 2018 yielded three basis points less.
ACCESSION #
9986366

 

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