And, indeed, prior MMD governments were accused of some of the same practices.
When measuring relative value, investors subtract the proposed yield on a bond from the corresponding yield on the MMD.
Ironically, while candidate Sata campaigned against claims of past MMD corruption, President Sata has impeded investigations of its own members.
Mr Mulongoti said the MMD's constitution governs the election of a party leader and warned against acting out of panic.
On January 1, 2000, the MMD AAA 30-year bond was yielding 5.97%.
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Like other professional municipal bond investors, I use the Thomson Reuters Municipal Market Monitor (MMD) as a benchmark to make these kinds of assessments.
However, when Mr Chiluba nominated Levy Mwanawasa as MMD candidate in 2001, Mr Sata, left and set up a new party, the Patriotic Front (PF).
This time he has put more energy into campaigning in rural areas, still the MMD's base, so that is where the election may be decided.
In this case, I looked at the MMD A Electric Power as a benchmark, since there is no MMD for BBB-rated bonds in the electric power sector.
Mr Banda's Movement for Multiparty Democracy (MMD) has ruled Zambia for 20 years and this was the fourth time Patriotic Front (PF) leader Mr Sata had run for the presidency.
From January until the day the bonds were formally priced in August, the spread between the MMD AAA and the MMD A Electric Power tightened steadily from 90 bps to 69 bps.
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