BB indexes weaken as yields hit six-week high
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose to 3.99% from 3.97% the week before.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields increased seven basis points to 3.90% from 3.83% the previous week. It is at its highest level since June 14, when it was at 3.92%.
The 11-Bond GO Index of higher-grade 11-year GOs gained seven basis points to 3.38% from 3.31% the previous week. It is at its highest level since seven weeks ago, when it was 3.40%.
The Bond Buyer's Revenue Bond Index jumped seven basis points to 4.40% from 4.33% last week. It is at its highest level since June 14, when it was at 4.41%.
The yield on the U.S. Treasury's 10-year note was higher to 2.99% from 2.85% from the previous week, while the yield on the 30-year Treasury was up to 3.11% from 2.97%.