July 11, 2013 / 2:46 PM / 4 years ago

U.S. muni prices rise, pushing yields down 3-8 bps-MMD

July 11 (Reuters) - U.S. municipal bond prices changed course on Thursday and rose, sending yields on top-rated bonds down 3 to 8 basis points, according to a preliminary market read by Municipal Market Data.

Prices, which had been sliding lower since Friday, perked up after comments by Federal Reserve Chairman Ben Bernanke late Wednesday that the U.S. central bank’s accommodative monetary policy was still needed, said Randy Smolik, a MMD analyst.

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