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Article: Bond volume stalls in November; 11-month total up 23% from '92.
- Article from:
- The Bond Buyer
- Article date:
- December 2, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Municipal bond sales faltered in November's chilly market conditions, but still remained well above 1992 levels for the year, according to data extracted by The Bond Buyer from Securities Data Co.'s data base.
Rising interest rates and uncertainty about the U.S. economy pushed issuers away from the municipal market last month, reducing November's volume to $16.35 billion. That was 27% less than October's revised total of $22.46 billion, 3% less than the $16.84 billion figure for November 1992, and the lowest total for any month since February 1992.
"I think we've seen the worst month in a long time," said Robert Chamberlin, senior vice president of ...
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