The Bond Buyer's weekly yield indexes declined as investors returned to work after the holidays and finished the week to date with four consecutive firmer sessions.
"The market came into 2009 with a lot of cash and short duration, and that was to be expected, considering how volatile 2008 was," said Michael Pietronico, chief executive officer of Miller Tabak Asset Management. "So the fact that the market is rallying here in the first week should not surprise anyone. It generally does on any given year. And the financial press has been very helpful in touting the asset class as attractive, so it's brought some interest."