Municipal bonds sold off by as much as 10 basis points outside of five years but triple-A benchmarks were cut across the curve as customer selling pressure increased again and investors are demanding more yield as economic data shows an improving economy and federal stimulus more likely. Trading to higher yields was swift out of the gates. Large blocks of high grades, such as Maryland, Georgia and Washington, traded as much as 20 basis points higher than prints from last week and double-digit higher than benchmark yields Monday.
Source: The Bond Buyer
