The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields declined one basis point this week, to 4.33%. This is the lowest the index has been since Jan. 21, 2010 (seven weeks ago), when it was 4.30%.
The 11-Bond GO Index of higher-grade 20-year GO yields was unchanged this week, at 4.06%. It remains at its lowest level since Feb. 11, 2010 (four weeks ago), when it was also 4.06%.
The Revenue Bond Index, which measures 30-year revenue bond yields, dropped one basis point this week, to 4.92%, which is the lowest the index has been since Jan. 21, 2010 (seven weeks ago), when it was 4.91%.
The Bond Buyer's One-Year Note Index declined one basis point this week, to an all-time low of 0.39%. The previous record low for the index, which began on July 12, 1989, was 0.40% last week.
The yield on the U.S. Treasury's 10-year note increased 12 basis points this week, to 3.73%, which is the highest the yield has been since Feb. 18, 2010 (three weeks ago), when it was 3.80%.
The yield on the Treasury's 30-year bond gained 11 three basis points this week, to 4.67%, which is its highest level since Feb. 18, 2010 (three weeks ago), when it was 4.74%.
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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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