The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields rose 12 basis points this week, to 4.06%, which is the highest level for the index since Sept. 17 (three weeks ago), when it was 4.20%. It was the first increase for the index in 12 weeks.
The 11-Bond GO Index of higher-grade 20-year GO yields rose 11 basis points this week, to 3.80% -- the highest level since Sept. 17 (three weeks ago), when it was 3.93%. This was the first time in 10 weeks that the index had risen.
The Revenue Bond Index, which measures 30-year revenue bond yields, was unchanged this week at 4.69%, which is the lowest it has been since Jan. 17, 2008, when it was 4.63%.
The yield on the U.S. Treasury's 10-year note rose four basis points this week, to 3.24%, but it remained well below its 3.38% level from two weeks ago.
The yield on the Treasury's 30-year bond increased 11 basis points this week, to 4.08%, but still remained below its 4.17% from two weeks ago.
The Bond Buyer's One-Year Note Index, which is based on one-year tax-exempt note yields, rose three basis points this week, to 0.59%, which is the highest it has been since Sept. 16 (three weeks ago), when it was 0.60%. The index had been at its all-time low of 0.56% for the past two weeks.
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The market has seen a trend of "happy endings to each week, disappointing Mondays," according to James Pruskowski, managing director at Hennion & Walsh.
May 21 -
"We're going to have some weak days, we're going to have some stronger days, maybe they wash out against each other," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
May 21 -
They are seeking legislation on transportation, water and other topics.
May 21 -
A major multiple-amended housing bill that is expected to expand the use of private activity bonds passes the House and bounces back to the Senate, but obstacles remain over provisions regulating institutional investors.
May 21 -
The former Massachusetts congressman "was a true champion for the municipal bond market," GFOA's Emily Brock said.
May 21 -
The Trump administration took over the Penn Station renovation a year ago, accusing the MTA of mismanagement.
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