Stocks slid and Treasurys continued to rally, as investors continued reacting to last week's dour March jobs report.
The U.S. stock market was closed Friday, ahead of the Easter holiday,
and in general, trading desks across asset classes were sparsely
staffed, so there was a delayed response to the disappointing jobs
number.
Muni bonds, for instance, rallied strongly Monday, in an
attempt to catch up with Treasurys. Issuance this week is expected to
be a healthy $7.7 billion to $9.3 billion, though, so it's unclear if
the pricing strength will continue, or if new bond sales will weigh on
the ...
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