BB yields move lower
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, dropped to 3.75% from 3.78% the week before.
The Bond Buyer's 20-bond GO Index of 20-year general obligation yields sank six basis points to 3.57% from 3.63% the week before. It is at its lowest level since Dec. 14, 2017, when it was at 3.41%.
The 11-bond GO Index of higher-grade 11-year GOs fell five basis points to 3.10% from 3.15% the previous week. It is at its lowest level since Jan. 18, 2018, when it was at 3.02%.
The Bond Buyer's Revenue Bond Index was six basis points lower to 4.05% from 4.11% the week before. It is at its lowest level since Jan. 18, 2018, when it was at 4.01%.
The yield on the U.S. Treasury's 10-year note was lower to 2.40% from 2.46%, while the yield on the 30-year Treasury sunk to 2.84% from 2.87%.