February 6, 2018 / 3:06 PM / 7 months ago

U.S. muni price rise lowers yields 5-9 basis points

Feb 6 (Reuters) - U.S. municipal bond prices climbed on Tuesday, lowering yields 5 to 9 basis points in early trading, according to a preliminary read of Municipal Market Data’s benchmark triple-A yield scale.

MMD Chief Market Analyst Randy Smolik said the muni market, where states, cities, schools and other issuers sell debt, was catching up with a fall in U.S. Treasury yields on Monday.

Reporting By Karen Pierog Editing by Chizu Nomiyama

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