Friday, July 19, 2013

Reuters: Bankruptcy News: Muni bond yields rise day after Detroit bankruptcy

Reuters: Bankruptcy News
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Muni bond yields rise day after Detroit bankruptcy
Jul 19th 2013, 15:11

NEW YORK, July 19 | Fri Jul 19, 2013 11:11am EDT

NEW YORK, July 19 (Reuters) - Yields in the $3.7 trillion U.S. municipal bond market rose on Friday, a day after Detroit filed for the largest municipal bankruptcy in history.

Longer dated rates on maturities ranging from 2037 to 2043 rose by 5 to 9 basis points, according to a preliminary read on Municipal Market Data's triple A scale.

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