US municipal bond prices resume fall
NEW YORK: US municipal bond prices resumed their decline on Friday as Treasuries fell after a strong US employment report.
Yields, which move inversely to prices, on top-rated 10-year munis rose five to seven basis points from Thursday's close of 2.55 percent, according to a preliminary read of Municipal Market Data's benchmark triple-A scale.
Yields on 30-year munis were up from three to five basis points from Thursday's finish at 3.70 percent, according to MMD, a unit of Thomson Reuters.
The US Labour Department on Friday said employers added 103,000 jobs in September, well above the 60,000 forecast by analysts polled by Reuters.
In taxable trading on Friday, 10-year Treasury notes were down 27/32 in price to yield 2.08 percent. The 30-year Treasury bond fell 1-29/32 to yield 3.05 percent.
Copyright Reuters, 2011
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