CREDIT : Bonds Rise a Bit in Light Trading

Associated Press

Corporate and municipal bonds were slightly higher to unchanged in price Monday, although most investors stayed away in observance of the federal holiday for Martin Luther King Jr.'s birthday.

Treasury bonds were not traded.

In corporate trading, industrials and utilities were virtually unchanged in light trading, according to Salomon Bros.

Moody's investment grade corporate bond index, which measures price movements on 100 corporate bonds with maturities of five years or longer, rose 0.66 to 273.71.

Among tax-exempt municipal bonds, general obligations were up between 1/2 point and 3/4 point, and revenue bonds were unchanged to point higher.

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