Market players went for broke yesterday, trading bonds up 1/2 point, while underwriters boosted prices on $2 billion of new deals, pushing yields of most longer maturities below 6%.

The municipal market has enjoyed a week and a half of strong sessions, primarily because of voracious investor appetite for a dwindling supply of bonds. But it got an extra shot of adrenalin yesterday morning, when the Conference Board's consumer confidence index plummeted 11.6 points to 61.01% in July, much more than expected.

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