BB indexes strengthen across the board
In the week ended May 10, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index dropped to 3.99% from 4.04% 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 3.88% from 3.89% the previous week. It is at its lowest level since April 19, when it was at 3.87%.
The 11-Bond GO Index of higher-grade 11-year GOs declined one basis point to 3.36% from 3.37% the previous week. It is at its lowest level since five weeks ago, when it was at 3.35%.
The Bond Buyer's Revenue Bond Index dropped one basis point to 4.37% from 4.38% last week. It is at its lowest level since April 19, when it was at 4.35%.
The yield on the U.S. Treasury's 10-year note rose to 2.97% from 2.95% the previous week, while the yield on the 30-year Treasury was flat at 3.12%.