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Monday July 14, 2008
Calif. Market Close: Tax-Exempts Finish Flat
The California municipal market was largely unchanged today, despite gains in the Treasury market, as details of the government’s bailout plan for troubled Fannie Mae and Freddie Mac become more concrete.
The Treasury market showed gains today on news of the Fed’s bailout plan for Fannie Mae and Freddie Mac. The yield on the benchmark 10-year Treasury note, which opened at 3.96%, was recently quoted at 3.86%. The yield on the two-year note was quoted recently at 2.46%, after opening at 2.60%.
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com
Posted by gsiegel [Today's BB Highlights] ( July 14, 2008 04:33 PM ) Permalink | Comments[0]
Market Close: Munis End Largely Unch
The municipal market was largely unchanged today, despite gains in the Treasury market, as details of the government’s bailout plan for troubled Fannie Mae and Freddie Mac become more concrete.
“The market is kind of just looking for its level right now. It’s quiet,” a trader in New Jersey said. “It seems like there’s a little more supply than last week. Last week was kind of quiet as a whole, summer doldrums every day. Then on Friday, the big move in the Treasury market kind of froze the market. It was tough to get a lot done.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com
Posted by gsiegel [Today's BB Highlights] ( July 14, 2008 04:28 PM ) Permalink | Comments[0]
Market Post: Munis Slightly Weaker in Morning Trade
The municipal market was weaker by one or two basis points today, despite gains in the Treasury market, as details of the government’s bailout plan for troubled Fannie Mae and Freddie Mac become more concrete.
“The market is kind of just looking for its level right now. It’s quiet and, if anything, off a basis point or two,” a trader in New Jersey said. “It seems like there’s a little more supply than last week. Last week was kind of quiet as a whole, summer doldrums every day. Then on Friday, the big move in the Treasury market kind of froze the market. It was tough to get a lot done.”
To read the column in its entirety, go to The Bond Buyer web site.
Michael.Scarchilli-AT-sourcemedia-DOT-com
Jack.Herman-AT-sourcemedia-DOT-com
Posted by gsiegel [Today's BB Highlights] ( July 14, 2008 10:56 AM ) Permalink | Comments[0]