The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields was unchanged this week, at 3.92%. It remains at its lowest level since Sept. 22, 2011 (13 weeks ago), when it was 3.85%.
The 11-Bond GO Index of higher-grade 20-year GO yields rose one basis point this week, to 3.66%, but remained below its 3.67% level from two weeks ago.
The Revenue Bond Index, which measures 30-year revenue bond yields, was unchanged this week, at 5.01%. It is still at its lowest level since Nov. 10, 2011 (six weeks ago), when it was 5.00%.
The Bond Buyer’s One-Year Note Index also was unchanged this week, remaining at its all-time low of 0.27%. The index began on July 12, 1989.
The yield on the U.S. Treasury’s 10-year note increased four basis points this week, to 1.96%. But it remained below its 1.98% level from two weeks ago.
The yield on the Treasury’s 30-year bond gained seven basis points this week, to 2.99%, but remained below its 3.00% 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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