Puzzle #10: Erratic Bond Pricing? asks you what might explain some apparently erratic swings in yields for certain sporadically traded municipal bonds. I stated that the bonds share the same issuer and maturity date.
The puzzle is a bit sneaky, so it’s time for a hint. While the bonds have the same issuer and maturity, I did not say they are completely alike in all respects.
Hope that helps. Let me know.