A quote from Municipal Market Advisors’ Matt Fabian in a story about auction-rate bonds yesterday mischaracterized the parties that historically have bought up bonds to prevent a failed auction. The broker-dealers have played this role in the past by buying bonds in an auction that appears likely either to fail or to reset at unreasonably higher yields.
Independent and authoritative analysis and perspective for the bond buying industry.
No credit card required. Complete access to articles, breaking news and industry data.
Have an account? Sign In