The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields declined 10 basis points this week, to 4.02%. This is the lowest level for the index since Sept. 29, 2011 (five weeks ago), when it was 3.93%.
The 11-Bond GO Index of higher-grade 20-year GO yields also dropped 10 basis points this week, to 3.75%, which is its lowest level since Sept. 29, 2011 (five weeks ago), when it was 3.67%.
The Revenue Bond Index, which measures 30-year revenue bond yields, fell five basis points this week, to 5.05%. This is its lowest level since Oct. 6, 2011 (four weeks ago), when it was 5.04%.
The Bond Buyer’s One-Year Note Index declined two basis points this week, to 0.29%, its lowest level since Oct. 5, 2011 (four weeks ago), when it was also 0.29%.
The yield on the U.S. Treasury’s 10-year dropped 33 basis points this week, to 2.07%. It is at its lowest level since Oct. 6, 2011 (four weeks ago), when it was 1.99%.
The yield on the Treasury’s 30-year bond fell 35 basis points this week, to 3.10%, which is the lowest it has been since Oct. 6, 2011 (four weeks ago), when it was 2.96%.
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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.
6h ago -
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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