Tax-exempt dollar bond prices inched 1/8 pointed higher in light, dealer trading yesterday, but news of a $2.5 billion New Jersey Turnpike Authority refinancing boosted their outstanding bonds 3/8 higher on the bid side and about a point higher for the offering.

New Jersey was also the talk in the short-term sector yesterday, with the pricing of $1.2 billion tax and revenue anticipation notes expected through a Lehman Brothers account today. Note traders said late yesterday that they expected the yield to be in the 4.55% to 4.60% range.

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