The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields declined 19 basis points this week, to 5.10%. This is the lowest level for the index since Jan. 6, 2011 (six weeks ago), when it was 5.08%.
The 11-Bond GO Index of higher-grade 20-year GO yields dropped 20 basis points this week, to 4.84%, which is the lowest it has been since Jan. 6, 2011 (six weeks ago), when it was also 4.84%.
The Revenue Bond Index, which measures 30-year revenue bond yields, fell seven basis points this week, to 5.60%. It is now at its lowest level since Jan. 13, 2011 (five weeks ago), when it was also 5.60%.
The Bond Buyer's One-Year Note Index rose two basis points this week, to 0.53%, but remained below its 0.56% level from two weeks ago.
The yield on the U.S. Treasury's 10-year note fell 12 basis points this week, to 3.58%. But it remained above its 3.56% level from two weeks ago.
The yield on the Treasury's 30-year bond dropped 14 basis points this week, to 4.66%, which is the lowest the yield has been since Jan. 27, 2011 (three weeks ago), when it was 4.57%.
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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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