The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, dropped to 3.90% from 3.99% last week.

The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields fell 30 basis points to 3.29% from 3.59% in the previous week. It is at its lowest level since Nov. 03, 2016, when it was at 3.27%.

The 11-Bond GO Index of higher-grade 11-year GO was 30 basis points lower to 2.79% from 3.09% the previous week. It is at its lowest level since Oct. 6, 2016, when it was 2.78%.

The Bond Buyer's Revenue Bond Index dropped 27 basis points to 3.77% from 4.04% last week. It is at its lowest level since Sept. 14, when it was at 3.77%.

The yield on the U.S. Treasury's 10-year note decreased to 2.37% from 2.42% in the previous week, while the yield on the Treasury's 30-year gained to 2.76% from 2.84% in the prior week.

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Aaron Weitzman

Aaron Weitzman

Aaron Weitzman is a markets reporter for The Bond Buyer, focusing on the sell side of the municipal bond market.