State and local budget challenges will put pressure on municipal credits and will drag overall economic growth next year, according to the Securities Industry and Financial Markets Association’s semiannual economic projections released Monday.

The 10-year Treasury note yield will be 2.8% by mid 2011 and 3.3% by the end of the year, according to the median estimate of 22 broker-dealer firms that responded to a survey conducted between Nov. 17 and Dec. 1.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access