If Federal Reserve policymakers are going to replace the expiring "Operation Twist" purchases of long-term Treasury securities with outright Treasury purchases, and if they want to keep the current level of monetary stimulus, then they should do so on a less than one-for-one basis, St. Louis Federal Reserve Bank President...
Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY