The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields increased two basis points this week, to 4.07%. But it remained below its 4.14% level from two weeks ago.
The 11-Bond GO Index of higher-grade 20-year GO yields also rose two basis points this week, to 3.80%, but remained below its 3.86% level from two weeks ago.
The Revenue Bond Index, which measures 30-year revenue bond yields, gained four basis points this week, to 5.11%. It is still below its 5.15% level from two weeks ago.
The Bond Buyer’s One-Year Note Index declined two basis points this week, to 0.28%, which matches the all-time low that it set on July 20, 2011 (eight weeks ago). The index began on July 12, 1989.
The yield on the U.S. Treasury’s 10-year note increased 10 basis points this week, to 2.09%. But it remained below its 2.14% level from two weeks ago.
The yield on the Treasury’s 30-year bond rose five basis points this week, to 3.36%, but still remained below its 3.51% level from two weeks ago.
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Volume was robust last week, with a nearly $20 billion new-issue calendar, and while supply dips to $13 billion this week, it will end up higher thanks to four sizable prepay energy deals that priced on Monday and Tuesday.
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Four deals were on the day-to-day calendar, "playing it close to the vest, and all of a sudden, boom, they all get done," said Pat Luby, head of municipal strategy at CreditSights.
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A proposed $3 billion sports and entertainment district would involve bond issuance for a Dallas Stars hockey arena and public infrastructure.
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Muni bond issuers cut their median audit times from 2023 to 2024, with issuers in all governmental bond and most revenue bond sectors reducing audit timelines.
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Republican Spencer Pratt's second-place election-night figures have dropped behind those of City Councilwoman Nithya Raman as more votes are counted in L.A.
7h ago -
While the city projects a water emergency, capital costs in the state's latest water plan skyrocket and demand exceeds capacity in a state financing program.
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