BB indexes mostly weaken; revenue index yield still at highest level in nearly three years
In the week ended March 15, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose to 4.02% from 4.01% 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 was one basis point higher to 3.89% from 3.88% the previous week. It is at its highest level since March 23, 2017, when it was at 3.91%.
The 11-Bond GO Index of higher-grade 11-year GOs gained one basis point to 3.39% from 3.38% the prior week. It is at its highest level since 52 weeks ago, when it was at 3.42%.
The Bond Buyer's Revenue Bond Index was unchanged at 4.37% from last week. It is at its highest level since June 4, 2015, when it was at 4.55%.
The yield on the U.S. Treasury's 10-year note dropped to 2.82% from 2.87% the previous week, while the yield on the Treasury's 30-year decreased to 3.05% from 3.13% in the prior week.