BB indexes weaken as revenue index yield nears 3-year high
In the week ended April 26, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index jumped to 4.05% from 3.99% 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 increased 10 basis points to 3.97% from 3.87% the previous week. It is at its highest level since March 16, 2017, when it was at 4.02%.
The 11-Bond GO Index of higher-grade 11-year GOs gained eight basis points to 3.45% from 3.37% the previous week. It is at its highest level since March 16, 2017, when it was at 3.53%.
The Bond Buyer's Revenue Bond Index climbed 11 basis points to 4.46% from 4.35% 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 jumped to 3.00% from 2.92% the previous week, while the yield on the 30-year Treasury increased to 3.18% from 3.11%.