Municipal cash prices ended a half-point higher yesterday, while in the primary market a $678 million New York State Medical Care Facilities Finance Agency deal was repriced at slightly lower yields.

"I think it's fairly aggressive pricing, but I think it recognizes the fact that there is a desire for New York paper out there on the part of investors, so it's priced accordingly," said Richard J. Moynihan, portfolio manager of the $3.5 billion Dreyfus Municipal Bond Fund. Moynihan, however, passed on the deal.

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.