Markets - Market News
Market Post: Buyers Won't Nibble in the Secondary While Awaiting the Primary
Monday, February 25, 2013
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A leaden and lackluster municipal market shuffled into the afternoon Monday. While the retail order periods for some of the week's issuance seep in, market participants, particularly institutions, have been holding their fire in the secondary in anticipation of larger offers to come, giving the market a ponderous tone.

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Opinion

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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