The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields declined 10 basis points this week, to 3.71%. It is at its lowest level since Feb. 23, 2012 (11 weeks ago), when it was 3.69%.
The 11-Bond GO Index of higher-grade 20-year GO yields also dropped 10 basis points this week, to 3.49%. This is its lowest level since March 1, 2012 (10 weeks ago), when it was 3.47%.
The Revenue Bond Index, which measures 30-year revenue bond yields, fell four basis points this week, to 4.73%. It is at its lowest level since March 1, 2012 (10 weeks ago), when it was also 4.73%.
The Bond Buyer’s One-Year Note Index, which is based on one-year GO note yields, declined two basis points this week, to 0.25%. This is its lowest level since April 18, 2012 (three weeks ago), when it was 0.23%.
The yield on the U.S. Treasury’s 10-year note dropped four basis points this week, to 1.89%. It is at its lowest level since Feb. 2, 2012 (14 weeks ago), when it was 1.83%.
The yield on the Treasury’s 30-year bond fell six basis points this week, to 3.06%, which is its lowest level since Feb. 2, 2012 (14 weeks ago), when it was 3.01%.
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There are nearly 30 new-issues over $100 million on tap across the credit spectrum, led by the week's largest negotiated deal from Harris County, Texas, with $950 million of toll road first lien revenue and refunding bonds. The competitive calendar ticks up with several high-grade names.
May 17 -
The number of rural hospitals in the red jumped by 7% in 2023. A Senate Finance Committee discussed aid to help them stay afloat.
May 17 -
Possible solutions include managed lanes, EV mileage fees, and higher registration fees.
May 17 -
The median time for issuers in all municipal bond sectors to produce audited financials rose nearly 10.5% from 2011 to 2022, according to a new report.
May 17 -
Municipal analysts have been tracking the challenges faced by home insurers in California and other states plagued with extreme weather events as a harbinger of credit risk.
May 17 -
"In terms of credit quality, high-yield funds proved resilient" while investment-grade funds saw outflows of $673 million, noted J.P. Morgan's Peter DeGroot in a market note.
May 16