Bond Buyer indexes strengthen; higher-grade bond yield hits lowest in a year
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was lower to 3.92% from 4.00% last week.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields fell 18 basis points to 3.49% from 3.67% in the previous week. It is at its lowest level since Sept. 7 when it was at 3.49%.
The 11-Bond GO Index of higher-grade bonds decreased 18 basis points to 2.99% from 3.17% the previous week. It is at its lowest level since Nov. 3 2016 when it was 2.85%.
The Bond Buyer's Revenue Bond Index dropped 18 basis points to 3.86% from 4.04% last week. It is at its lowest level since Oct.19, when it was at 3.86%.
The yield on the U.S. Treasury's 10-year note dropped to 2.33% from 2.35% in the previous week, while the yield on the Treasury's 30-year fell to 2.79% from 2.83% in the prior week.