Yields on all four of The Bond Buyer's indexes rose slightly last week, as dealers minimized the price damage of a new-issue deluge by keeping bonds out of a decidedly weaker secondary market.

Tax-exempt yields increased only two to three basis points. Given the nearly $4.6 billion of new issues sold during the week, the performance appears strong. But municipal sources said the small yield increases are deceptive because underwriters and Wall Street dealers are holding back from selling bonds into the soft market.

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