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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Fernando Osorio Caño was named interim executive director after Mary Carmen Zapata resigned.
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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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