BB indexes strengthen across the board, as yields drop as many as eight BPs
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, dipped to 4.04% from 4.05% the week before.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields decreased eight basis points to 3.89% from 3.97% 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 eight basis points to 3.37% from 3.45% the previous week. It is at its lowest level in three weeks.
The Bond Buyer's Revenue Bond Index dropped eight basis points to 4.38% from 4.46% 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 headed south to 2.95% from 3.00% the previous week, while the yield on the 30-year Treasury decreased to 3.12% from 3.18%.