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Illinois Reaps Benefit of Market Timing

June 16, 2016

Illinois paid a steeper penalty to borrow Thursday after a fresh round of downgrades but a municipal market offering historically low yields helped disguise the spreads. "People showed up to buy," and the bonds sold at relatively expected levels, said Brian Battle, director of trading at Performance Trust Capital Partners. "That is a good sign in the confidence investors have in Illinois' ability to pay."

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