The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields declined four basis points this week, to 3.86%. It is at its lowest level since March 8, 2012 (seven weeks ago), when it was 3.84%.
The 11-Bond GO Index of higher-grade 20-year GO yields also dropped four basis points this week, to 3.65%. This is its lowest level since March 1, 2012 (eight weeks ago), when it was 3.47%.
The Revenue Bond Index, which measures 30-year revenue bond yields, fell three basis points this week, to 4.78%. It is at its lowest level since March 8, 2012 (seven weeks ago), when it was 4.76%.
The Bond Buyer’s One-Year Note Index, which is based on one-year GO note yields, increased three basis points this week, to 0.26%. This is its highest level since Jan. 4, 2012 (16 weeks ago), when it was 0.28%.
The yield on the U.S. Treasury’s 10-year note was unchanged this week, at 1.96%. It remains at its lowest level since Feb. 2, 2012 (12 weeks ago), when it was 1.83%.
The yield on the Treasury’s 30-year bond gained one basis point this week, to 3.13%, but remained below its 3.22% 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.
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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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