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Wednesday July 23, 2008
Market Post: Munis Slightly Weaker in Morning Trade
The municipal market was slightly weaker this morning, following Treasuries.
“It feels better than it did yesterday,” a trader in New York said. “It looked like the end of the world yesterday, but there’s actually business going on today. There was business going on yesterday, but it was at a very distressed level. We might be off a little bit because Treasuries are off a little bit, but I don’t think we’re underperforming Treasuries today.”
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Posted by gsiegel [Today's BB Highlights] ( July 23, 2008 10:57 AM ) Permalink | Comments[0]