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Market Close: After Losing Streak, Munis End Steady
by: Taylor Riggs
Wednesday, December 19, 2012
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The tax-exempt market managed to end Wednesday on a steady note, allowing the market to take a small breather after what has been a two-week collapse in municipal bond prices.

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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.

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