The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields declined 10 basis points this week, to 4.06%. That is the lowest the index has been since Oct. 8, 2009 (44 weeks ago), when it was also 4.06%.
The 11-Bond GO Index of higher-grade 20-year GO yields dropped nine basis points this week, to 3.80%, which is the lowest level for the index since Oct. 8, 2009 (44 weeks ago), when it was also 3.80%.
The Revenue Bond Index, which measures 30-year revenue bond yields, declined five basis points this week, to 4.74%. This is its lowest level since Oct. 8, 2009 (44 weeks ago), when it was 4.69%.
The Bond Buyer's One-Year Note Index dropped nine basis points this week, to 0.46%, which is its lowest level since March 31, 2010 (19 weeks ago), when it was 0.,43%.
The yield on the U.S. Treasury's 10-year note declined 16 basis points this week, to 2.75%. This is the lowest the yield has been since April 2, 2009 (71 weeks ago), when it was also 2.75%.
The yield on the Treasury's 30-year bond fell11 basis points this week, to 3.95%, which is its lowest level since July 22, 2010 (three weeks ago), when it was also 3.95%.
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Fernando Osorio Caño was named interim executive director after Mary Carmen Zapata resigned.
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A stronger-than-expected nonfarm payroll report reignited fears that the Federal Reserve will hike rates. Munis and USTs had a somewhat muted reaction, according to Hennion & Walsh's James Pruskowski.
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"The reason the number [of trade counts] is a record and not just elevated is structural, and it's been building for years," said Josh Rosenblum, head of municipal trading strategies at Brownstone.
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Oregon State Rep. Paul Evans proposed a grant program that would fill budgetary gaps for small cities at risk of closing what he deems as essential city services.
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Norman Regional Health System says it will use interim financing to make a Sept. 1 debt service payment that bondholders agreed to delay.
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The plan aims to fundamentally change how the state collects tax revenue, aiming to eventually shrink the income tax to nothing.
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