The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields increased 48 basis points this week, to 4.72%. This is the highest level for the index since July 1, 2009 (71 weeks ago), when it was 4.81%.
The 11-Bond GO Index of higher-grade 20-year GO yields rose 49 basis points this week, to 4.47%, which is the highest level for the index since July 1, 2009 (71 weeks ago), when it was 4.53%.
The Revenue Bond Index, which measures 30-year revenue bond yields, gained 38 basis points this week, to 5.25%. That is its highest level since Sept. 10, 2009 (62 weeks ago), when it was 5.33%.
The Bond Buyer's One-Year Note Index rose eight basis points this week, to 0.54%, which is its highest level since Aug. 4, 2010 (15 weeks ago), when it was 0.55%.
The yield on the U.S. Treasury's 10-year note increased 25 basis points this week, to 2.91%. This is the highest the yield has been since Aug. 5, 2010 (15 weeks ago), when it was also 2.91%.
The yield on the Treasury's 30-year bond rose four basis points this week, to 4.29%, which is the highest level for the yield since June 3, 2010 (24 weeks ago), when it was also 4.29%.
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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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