11:03 EDT - Top-rated munis are taking a break from the tear they've
seen this month, with yields on AAA bonds as much as a basis point
higher today, shows an initial read on Thomson Reuters Municipal
Market Data's benchmark scale. Weaker Treasurys are giving "muni guys
a sign that the bond chase has ended for a while," says MMD's Randy
Smolik. Muni yields are already hovering at or around record lows on
MMD's scale, which dates to 1981. Meanwhile, there are few new bond
sales in the market Friday, with Maryland taking orders from
individuals on a $75M AAA deal. Yields match those offered on MMD's
scale. (kelly.nolan@dowjones.com)
(END) Dow Jones Newswires
July 27, 2012 11:03 ET (15:03 GMT)
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