The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields increased one basis point this week, to 4.02%. It is at its highest level since Dec. 1, 2011 (17 weeks ago), when it was 4.12%.
The 11-Bond GO Index of higher-grade 20-year GO yields also rose one basis point this week, to 3.80%. This is its highest level since Dec. 1, 2011 (17 weeks ago), when it was 3.85%.
The Revenue Bond Index, which measures 30-year revenue bond yields, declined three basis points this week, to 4.85%. But it remains above its 3.83% level from two weeks ago.
The Bond Buyer’s One-Year Note Index, which is based on one-year GO note yields, increased one basis point this week, to 0.25%. It is at its highest level since Feb. 29, 2012 (four weeks ago), when it was also 0.25%.
The yield on the U.S. Treasury’s 10-year note declined 12 basis points this week, to 2.16%. This is its lowest level since March 8, 2012 (three weeks ago), when it was 2.03%.
The yield on the Treasury’s 30-year bond declined 10 basis points this week, to 3.27%. This is its lowest level since March 8, 2012 (three weeks ago), when it was 3.18%.
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"Bond market investors are all wishing that April was behind us as they are anxious to hear the Fed's statement at its next FOMC meeting," noted BofA Global Research. "The statement should be no surprise as the market consensus has converged to 'higher for longer' rates.
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CDIAC's revamped website, which launches May 1, will offer accessibility to state and local debt from issuance through maturity; and the ability to create summary reports based on search features.
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The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.
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The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
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With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
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Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
7h ago