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Wednesday July 23, 2008
Market Post: Munis Slightly Weaker in Afternoon Trade
The municipal market was weaker today, following Treasuries. Traders said tax-exempt yields were lower by about three basis points.
“The market is still struggling with the FSA/Assured issue,” a trader in Chicago said. “Like a sports figure or politician, it’s now ‘guilty until proven innocent’ instead of ‘innocent until proven guilty.’ ”
To read the column in its entirety, go to The Bond Buyer web site.
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Posted by gsiegel [Today's BB Highlights] ( July 23, 2008 01:53 PM ) Permalink | Comments[0]
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