June 26, 2013 / 2:55 PM / in 5 years

U.S. muni bond yields fall by up to 7 bps on preliminary read

June 26 (Reuters) - 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.

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