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U.S. muni yields drop as much as 10 bps-MMD preliminary scale read
December 6, 2017 / 4:29 PM / 11 days ago

U.S. muni yields drop as much as 10 bps-MMD preliminary scale read

Dec 6 (Reuters) - U.S. municipal bond prices soared for a fifth straight session on Wednesday, lowering yields as much as 10 basis points, according to a preliminary read of Municipal Market Data’s benchmark triple-A yield scale.

Yields have been sinking amid a huge surge in supply spurred by federal tax changes pending in the U.S. Congress that could eliminate federal tax breaks for private activity and advance refunding bonds starting in 2018. (Reporting By Karen Pierog Editing by Chizu Nomiyama)

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