Inflation fears continued to batter municipal bond prices this week, but Tuesday's powerful one-day rally offset the rest of the week's losses and left The Bond Buyer's bond indexes only slightly above or below last Thursday's levels.

The 20-bond index of general obligation bond yields was squeezed one basis point higher this week, to 5.46% yesterday from 5.45% last Thursday. The 20-bond index has not been that high since Aug. 5, when it was 5.61%.

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