Falling single-family home sales in May helped push municipal prices up as much as 1/4 point Wednesday, while the short-term sector sagged under the weight of $1.2 billion of New Jersey notes and a tailing off of coupon reinvestment.

A group including Lehman Brothers as senior manager tentatively priced and then repriced the New Jersey tax and revenue anticipation notes to raise the yield five basis points.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.