November 14, 2012 / 8:21 PM / in 5 years

US muni debt yields at new lows on strong demand, tax outlook

SAN FRANCISCO, Nov 14 (Reuters) - Benchmark yields on tax-free U.S. municipal bonds fell to new lows on Wednesday as investors concerned about the outlook for tax hikes snapped up the debt and institutions flush with cash swept up new issuance.

The 30-year yield fell to an all-time low for a fifth consecutive session, slipping four basis points from Tuesday’s low to end at 2.60 percent on Municipal Market Data’s benchmark triple-A scale.

The 10-year yield dropped one basis point, to a record low 1.54 percent.

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