MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, September 18, 2013 Munis Rally Ahead of Fed Municipal bonds are enjoying a much needed break from the Detroit-inspired panic, with municipal bond market seeing its biggest rally since April, Bloomberg's Brian Chappatta reports. Chappatta writes that the rally precedes two days of deliberations by Fed policymakers on whether to begin the tapering. The rally extended, with investors buying Puerto Rico, Illinois and California debt before the Fed meeting, Bloomberg writes. Bloomberg reports that yields on top-rated municipal bonds maturing in a decade fell 0.04 percent point to 2.99 percent, the lowest it's been since August 16 and the tax-exempt interest rate reached a nearly 30-month high of 3.15 percent on September 6, then fell the most in five months. “The muni market rallied nicely,” David Manges, muni trading manager at BNY Mellon Capital Markets LLC. “This is likely to be a volatile week.” The yield on 10-year U.S. Treasuries dropped by 0.11 percentage point to 2.78 percent on Monday, Bloomberg reports. To read more, click here here. Printed from: MFWire.com/story.asp?s=46099 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |