He also said heavy supply could be a concern when the Treasury's refunding got under way next week.

Nonetheless, the heavy supply has recently raised yields in the short end of the municipal spectrum.

Traders said the heavy supply of new issues could put bond prices under pressure.

The heavy supply of new issues is seen as the reason behind the rise in yields.

The soldiers could march, but their equipment and heavy supplies would need to be ferried by sea.

Market analysts said the day's lows were extended mostly on concern over the coming heavy supply of new issues.

Another factor is a heavy supply of new corporate issues, as companies take advantage of the environment for low interest rates.

Periods of heavy supply are usually difficult times, because often prices must be marked down to attract customers.

A strong market with good investor demand would prompt a heavy supply of new issues, analysts said.

Nor does the heavy supply of new issues being offered.