Calif. Market Close: Tax-Exempts Finish Slightly Weaker

The California municipal market was unchanged to slightly weaker today, lagging behind an afternoon Treasury rally that followed an early-morning Treasury market sell-off.
With Treasuries down in the morning, tax-exempt yields were higher by three to five basis points. However, while Treasuries finished the session improved, munis drifted back to flat to one basis point weaker.
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

Market Close: Munis Unch to Slightly Weaker

The municipal market was unchanged to slightly weaker today, lagging behind an afternoon Treasury rally that followed an early-morning Treasury market sell-off.
With Treasuries down in the morning, tax-exempt yields were higher by three to five basis points. However, while Treasuries finished the session improved, munis drifted back to flat to one basis point weaker.
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

Market Post: Munis Weaker in Afternoon Trade

The municipal market was weaker today, following Treasuries. Traders said tax-exempt yields were higher by three to five basis points.
“It’s definitely better than it was this morning, but we’re still down about one to three,” a trader in Chicago said. “There’s still not much trading going on either way, though, as everybody is kind of waiting it out. If you had something you had to do or had to get out of, you probably lost a bit of money.”
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

Market Post: Munis Weaker in Morning Trade

The municipal market was weaker this morning, following Treasuries.
The Treasury market showed losses today on news that, after much speculation, the U.S. government yesterday captured control of troubled mortgage giants Fannie Mae and Freddie Mac, placing them under conservatorship by their federal regulator, the Federal Housing Finance Agency.
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