The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields declined two basis points this week, to 3.60%. This is its lowest level since April 13, 1967 (nearly 45 years ago), when it was 3.54%.
The 11-Bond GO Index of higher-grade 20-year GO yields also dropped two basis points this week, to 3.34%, which is its lowest level since Feb. 9, 1967 (nearly 45 years ago), when it was 3.33%.
The Revenue Bond Index, which measures 30-year revenue bond yields, increased three basis points this week, to 4.77%. But it remained below its 4.93% level from two weeks ago.
The Bond Buyer’s One-Year Note Index, which is based on one-year GO note yields, declined one basis point this week, to an all-time low of 0.24%. The index began in July 1989.
The yield on the U.S. Treasury’s 10-year note rose six basis points this week, to 1.99%, but remained below its 2.00% level from two weeks ago.
The yield on the Treasury’s 30-year bond gained eight basis points this week, to 3.05%, but remained below its 3.06% level from two weeks ago.
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Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.
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Munis posted losses in April, returning negative 1.24%. The asset class is also seeing losses of 1.62% year-to-date.
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Alaska's efforts to manage its cyclical revenues brought an upgrade from S&P Global Ratings and positive outlook from Moody's Ratings.
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Sen. Joe Manchin, D-W.Va., has already pledged to try to overturn the rule in Congress.
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April's volume stood at $40.456 billion in 653 issues, up 21.2% from $33.377 billion in 666 issues in 2023.
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The deal, originally planned at $1.5 billion in three maturities, was downsized and restructured and then restructured again into one 10-year bullet maturity.
May 1