All BB Indexes strengthen
In the week ended July 5, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index dipped to 3.97% from 3.98% the previous week. The BB40 Index is based on the price of 40 long-term bonds.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields decreased one basis point to 3.86% from 3.87% the previous week. It is at its lowest level since May 31, when it was at 3.78%.
The 11-Bond GO Index of higher-grade 11-year GOs dropped one basis point to 3.34% from 3.35% the previous week. It is at its lowest level since three weeks ago, when it was 3.26%.
The Bond Buyer's Revenue Bond Index fell one basis point to 4.35% from 4.36% last week. It is at its lowest level since May 31, when it was at 4.27%.
The yield on the U.S. Treasury's 10-year note was lower at 2.84% from the previous week while the yield on the 30-year Treasury decreased to 2.95% from 2.98%.