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The column instantly drew a rich and argumentative response that ensured a constant supply of issues to address that meshed directly with readers' own.
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In the corporate and tax-exempt markets, however, the supply of new issues will remain light.
The most important negative influence on the bond market currently is the continued heavy supply of new issues for sale.
Bond prices continued to de cline pushed down by the weight of the supply of new issues currently being market ed.
Investors looking for higher yields than those available in the Treasury market had an ample supply of new issues to choose from yesterday.
The prospect of a lighter supply of Treasury issues helped raise prices of outstanding Government bonds but was of less benefit in the beleaguered market for tax-exempt bonds.
The first two sizable tax-exempt offerings of the year were well received this week, as a light supply of new issues compensated for the lack of buying by commercial bank investment portfolios.
Removing the large financing from this week's calendar immediately benefited the tax-exempt market, where prices fell sharply earlier last week due to a heavy supply of new issues and selling from portfolios of insurance companies and mutual funds.
The securities, which some have dubbed "TMB's" are not exactly new, since nearly $2.5 billion have been sold so far this year, but the supply of such issues is expected to increase.
"There is the risk that there is going to be so much supply of rights issues that investor appetite might decline," said Matti Ahokas, an analyst with Handelsbanken Capital Markets.
One of the new sources of income to publishers is the supplying of back issues or providing copies of such issues.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com