The Bond Buyer's weekly yield indexes were narrowly mixed this week, despite tax-exempt yields rising modestly in each of the week's sessions.
"Bonds have been getting cheaper by the day, it seems," said Fred Yosca, managing director and head of trading at BNY Capital Markets. "It's not a rout, though. We're still seeing some decent order flow here, but you've got to have the right paper. I think, if you're looking at high-grades, they're off certainly less than lesser-rated bonds. Quality spreads are just widening.