Players said aggressive bidding for competitive deals ushered bond prices higher yesterday, but results of the sales were unclear, rendering the gains suspect.

In a busy day, over $1.9 billion of offerings were brought to market. Underwriters set low yields for several high-grade competitive deals, including $800 million California bonds.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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