June 26 Prices on top-rated U.S. municipal bonds
rose in early Wednesday trading, lowering yields by as much as
seven basis points, according to a preliminary read of Municipal
Market Data's benchmark scale.
The move comes after recent steep losses in the market last
week and Monday, when prices fell sharply and sent yields on
top-rated munis to level unseen in two years.
On Tuesday, yields on top-quality 30-year bonds were
unchanged at 4.13 percent, while the 10-year yields rose one
basis point to 2.81 percent.