The municipal market was again unchanged yesterday as Citi priced $908 million of taxable Build America Bonds for California.

In the new-issue market yesterday, Citi priced $908 million of BABs for the Golden State that mature in 2039, yielding 7.26%, or 4.74% after the 35% federal subsidy. The bonds were priced to yield 300 basis points over the comparable U.S. Treasury yield. 

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