Most of The Bond Buyer's weekly yield indexes pushed higher this week, as tax-exempts grew weaker in all the week's sessions despite light to moderate activity and Treasury market gains.
"It's a fairly tough market," said Howard Mackey, president of the broker-dealer business unit of Rice Financial Products. "It kind of reminds me of where things were some months ago, when bids pretty much dried up in the marketplace. You're seeing that now there's very little bidding activity that's going on, and I think just about all of the new issues that have come to market have had some struggles. And we're still seeing balances outstanding in deals that have come over the past week or so."