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Tuesday July 15, 2008
Market Post: Munis Firmer in Afternoon Trade
The municipal market was firmer by about three basis points today, following Treasury gains.
“I think we were quite a bit stronger this morning, but I think we’re losing some of our steam here with Treasuries clearly off their highs,” a trader in Chicago said. “Earlier I thought we were up quite a bit, especially in the short-end where there were some really big trades, but I see a lot people backing away from the market now. The volume has picked up a bit. This morning it was kind of quiet and the focus was still on the new issues. It’s picked up, but I still do think there are a lot of people sitting on the sidelines.”
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Posted by gsiegel [Today's BB Highlights] ( July 15, 2008 01:48 PM ) Permalink | Comments[0]