Notice to my finance students:  a fire sale means to sell at any price (no matter what!) ... To see the article on our class website (click on this link), courtesy of the Wall Street Journal.

                        

Notice an interesting point, the shorter term (5 year) bonds have been harder to sell than the long term (30 year) bonds (that is, the interest rate is higher on 5 yr. so the price is lower - sold at a much cheaper price).  Perhaps there is more confidence in the Munis long term.  Obviously, supply has greatly outstripped demand and the price fell drastically of recent!  Wow, teaching finance and economics in one post!  (Laughing!)