Tax-exempt prices are nearing heights not seen since January; when yields fell to recent record lows, and market players yesterday reported a continued firm tone.

Heady municipal prices in January gave way to a precipitous fall in February. But since then much of the damage has been undone. Economic news has proved friendly to bond prices, and aggressively priced deals have been met with increased investor demand, boosted by hopes for an influx of cash from massive July 1 bond calls.

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