September 11, 2014
The Bond Buyer's 20-Bond Index® bounced off the year's low by gaining 5 basis points, ending at 4.14. The week saw an unusually light slate of new tax-exempt bond offerings. The volume of new issues increased somewhat during the period. Announced and expected new issues for the next few weeks will represent a large increase over recent weeks. We expect the Index to rise modestly as the market digests the greater supply of tax-exempts.
Below are links to The Bond Buyer's ® 20- Bond Index along with a chart showing the trend of the Bond Buyer's ® 20-Bond Index for the past two years. For those interested, we have data for prior years and will be pleased to provide it upon request.
The Municipal Securities Rulemaking Board's EMMA system is now mandatory for new issue disclosure as well as continuing disclosure and bond ratings for rated issues. Both the preliminary and final official statements can be downloaded from the following web address: EMMA.
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Modified September 17, 2014