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U.S. 30-year municipal bond yield falls to record low-MMD
July 12 |
July 12 (Reuters) - The yield on the U.S. 30-year municipal bond on Municipal Market data triple-A scale fell below 3 percent for the first time on Thursday, slipping 6 basis points to 2.96 percent on strong reinvestment demand, according to Municipal Market Data.
"Demand for negotiated deals this week seemed insatiable," said Randy Smolik, a senior market analyst with MMD, a Thomson Reuters company, in market commentary.
An estimated $30 billion of cash will be paid to investors in the form of redemptions and coupon payments in July, he said.
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