price of issue

Prices of issues sold by the Treasury at last week's refunding auctions continued to advance.

Prices of issues across the maturity spectrum all improved, with the biggest gains recorded among long-term bonds.

Demand is strong, but the supply is lighter, one investment banker said, causing prices of issues to rise, lowering yields.

Q. Has Internet mania inflated prices of issues that are not pure Web plays?

Prices of issues outstanding in the investment-grade corporate bond market were dragged down by the slide in Treasury prices.

While not predicting a contraction in business activity, William Meehan, chief market analyst at Cantor Fitzgerald, was leery about stocks, noting that the prices of issues comprising the Standard & Poor's 500-stock index were nearing a lofty and almost unheard-of 30 times earnings.

The demise earlier this year of Drexel Burnham Lambert Inc., the brokerage house that built the junk-bond market, came as an aftershock: prices of issues in the secondary market were already in a free fall and would-be issuers had been shoved to the sidelines.