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Wednesday June 11, 2008
Market Post: Munis Largely Unch in Morning Trade
The municipal market was largely unchanged this morning.
“Down the curve clearly this morning the percentages have gotten tight,” a trader in New York said. “There’s definitely selling pressure. There’s supply in the market. We have weaker fundamentals, weaker technicals, but support from the 10- and 30-year Treasuries. I could see a market rally, or I could see this market cracking. I’m staying cautious.”
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Posted by gsiegel [Today's BB Highlights] ( June 11, 2008 10:52 AM ) Permalink | Comments[0]