The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields declined two basis points this week, to 3.82%. This is the lowest level for the index since May 4, 1967 (43 years ago), when it was 3.79%.
The 11-Bond GO Index of higher-grade 20-year GO yields also fell two basis points this week, to 3.56%, which is the lowest the index has been since April 20, 1967 (43 years ago), when it was 3.53%.
The Revenue Bond Index, which measures 30-year revenue bond yields, declined one basis point this week, to 4.57%. That is its lowest level since May 31, 2007 (three years ago), when it was 4.57%.
The Bond Buyer's One-Year Note Index also dropped one basis point this week, to 0.47%, but remained above its 0.44% level from two weeks ago.
The yield on the U.S. Treasury's 10-year note rose 10 basis points this week, to 2.50%, but remained below its 2.52% level from two weeks ago.
The yield on the Treasury's 30-year bond gained 18 basis points this week, to 3.90%, which is its highest level since Sept. 16, 2010 (four weeks ago), when it was 3.93%.
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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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