Municipal issuers led by Ohio sold about $6.3 billion of fixed-rate bonds with final maturities longer than 18 months, down from $9.9 billion last week, according to data compiled by Bloomberg. California borrowed $8.8 billion, selling notes at yields of 1.5 percent and 1.25 percent, which will be paid off by the end of its fiscal year that began July 1.
Friday, September 25, 2009
Muni Yields at 42-Year Low as Sales Slow, Funds Grow
Bloomberg reports:Benchmark borrowing costs for highly rated state and local governments dropped to a 42-year low this week, as the pace of new municipal-bond issues slowed and cash flowing into mutual funds accelerated to a record.
Municipal issuers led by Ohio sold about $6.3 billion of fixed-rate bonds with final maturities longer than 18 months, down from $9.9 billion last week, according to data compiled by Bloomberg. California borrowed $8.8 billion, selling notes at yields of 1.5 percent and 1.25 percent, which will be paid off by the end of its fiscal year that began July 1.
Municipal issuers led by Ohio sold about $6.3 billion of fixed-rate bonds with final maturities longer than 18 months, down from $9.9 billion last week, according to data compiled by Bloomberg. California borrowed $8.8 billion, selling notes at yields of 1.5 percent and 1.25 percent, which will be paid off by the end of its fiscal year that began July 1.
