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Note Issuance in 2012 Mirrors Prior Year's Pace
by: Christine Albano
Sunday, February 10, 2013
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The steady but flat volume of note offerings that carried over into 2012 from the previous year was largely sustained by a shift in issuance patterns among municipalities.

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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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