Funds Pick Up Muni Rate Locks

29 May 2012

Hedge funds and money managers have been buying three- and six-month rate locks on the 10-year Municipal Market Data municipal bond index rates because the locks are considered cheap relative to spot.

Hedge funds and money managers have been buying three- and six-month rate locks on the 10-year Municipal Market Data municipal bond index rates because the locks are considered cheap relative to spot.

One New York strategist said buysiders have increased buying the locks since markets opened today. The rate ...

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