Calif. Market Close: Tax-Exempts Finish Weaker

The California municipal market was weaker today, with more losses situated on the long end.
“We weren’t seeing much earlier on, but as the day wore on, more of that weakness came through,” a trader in Los Angeles said. “I’d say we’re down two or three basis points overall, but I’ve seen it as much as five or six basis points weaker on the very long end. It’s just very illiquid still.”
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 Finish Weaker

The municipal market was weaker today, with bigger losses situated on the long end.
“We weren’t seeing much earlier on, but as the day wore on, more of that weakness came through,” a trader in Los Angeles said. “I’d say we’re down two or three basis points overall, but I’ve seen it as much as five or six basis points weaker on the very long end. It’s just very illiquid still.”
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 Unch to Slightly Weaker in Morning Trade

The municipal market was little changed this morning, with some mild losses on the long end.
Traders said tax-exempt yields were higher by one or two basis points out 20 years and longer, following last week’s incredible volatility, but shorter and intermediate maturities were largely unchanged.
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