Municipal borrowers in Massachusetts and Indianapolis reduced yields on two of the largest municipal bond issues, helping to bolster long-term bonds. Indianapolis Local Public Improvement Bond Bank cut yields on bonds due in 2038 to sell more than $550 million of the debt. Meanwhile, the Massachusetts Water Pollution Abatement Trust dropped yields by as much as two basis points on a 2024 maturity to offer nearly $212 million in top-rated debt.

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