Tax-exempt prices rose in the face of stronger-than-expected economic data yesterday, while $1.5 billion Los Angeles County tax and revenue anticipation notes led another wave of new issues.

U.S. housing starts climbed 11% in May to a seasonally adjusted annual rate of 1.230 million units, but May housing permits, a measure of future building activity, fell 0.7%, to 1.051 million units, according to the Commerce Department.

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