The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields declined 19 basis points this week, to 3.93%. This is its lowest level since Sept. 29, 2011 (10 weeks ago), when it was also 3.93%.
The 11-Bond GO Index of higher-grade 20-year GO yields dropped 18 basis points this week, to 3.67%, which is its lowest level since Sept. 29, 2011 (10 weeks ago), when it was also 3.67%.
The Revenue Bond Index, which measures 30-year revenue bond yields, fell six basis points this week, to 5.03%. It is at its lowest level since Nov. 10, 2011 (four weeks ago), when it was 5.00%.
The Bond Buyer’s One-Year Note Index was unchanged this week at 0.29%. It remains at its lowest level since Nov. 2, 2011 (five weeks ago), when it was also 0.29%.
The yield on the U.S. Treasury’s 10-year note declined 13 basis points this week, to 1.98%. But it remains above its 1.94% level from two weeks ago.
The yield on the Treasury’s 30-year bond dropped 12 basis points this week, to 3.00%, but is still higher than its 2.91% level from two weeks ago.
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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.
6h ago -
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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