Much of the money was taken out by investors looking for higher yields in longer-term municipal bonds, it said.

Another longer-term bond due in 2008 is offered at a price to yield about 7.22 percent.

A longer-term bond, due in 2008, yields 8 1/2 percent.

Funds that invest in longer-term bonds tend to have higher interest rate risk.

Mexican officials said that in the next week or so, they will offer longer-term bonds, backed by the new American credits.

Another longer-term bond due in 2012 is priced to yield 6.029 percent.

The bulk of the day's gains were recorded among longer-term bonds and notes.

But those factors had little impact on longer-term bonds, market experts said.

Traders said yields on the longer-term bonds were expected to be around 7.50 percent.

Analysts said that the technical condition of the market was good right now, particularly among longer-term bonds.