BB index yields tumble
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, 4.28% from 4.33% the week before.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields dropped six basis points to 4.30% from 4.36% the previous week. It is at its lowest level since Oct. 25, when it was also at 4.30%.
The 11-bond GO Index of higher-grade 11-year GOs decreased six basis points to 3.79% from 3.85% the previous week. It is at its lowest level in three weeks.
The Bond Buyer's Revenue Bond Index lost six basis points to 4.79% from 4.85% last week. It is at its lowest level since Oct. 04, when it was at 4.75%.
The yield on the U.S. Treasury's 10-year note was lower to 3.11% from 3.24%, while the yield on the 30-year Treasury fell to 3.36% from 3.43%.