In the week ended May 24, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose to 4.02% from 4.00% 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 five basis points to 3.90% from 3.95% the previous week. It is at its lowest level since May 10, when it was at 3.88%.

The 11-Bond GO Index of higher-grade 11-year GOs fell five basis points to 3.38% from 3.43% the previous week. It is at its lowest level in two weeks, when it was at 3.36%.

The Bond Buyer's Revenue Bond Index dropped five basis points to 4.39% from 4.44% last week. It is at its lowest level since May 10, when it was at 4.37%.

The yield on the U.S. Treasury's 10-year note sank to 2.98% from 3.12% the previous week, while the yield on the 30-year Treasury decreased to 3.12% from 3.25%.

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Aaron Weitzman

Aaron Weitzman

Aaron Weitzman is a markets reporter for The Bond Buyer, focusing on the sell side of the municipal bond market.