The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields increased seven basis points this week, to 4.09%. It is at its highest level since Oct. 27, 2011 (three weeks ago), when it was 4.12%.
The 11-Bond GO Index of higher-grade 20-year GO yields also rose seven basis points this week, to 3.82%, reaching its highest level since Oct. 27, 2011 (three weeks ago), when it was 3.85%.
The Revenue Bond Index, which measures 30-year revenue bond yields, gained nine basis points this week, to 5.09%. This is its highest level since Oct. 27, 2011 (three weeks ago), when it was 5.10%.
The Bond Buyer’s One-Year Note Index increased one basis point this week, to 0.31%, which is its highest level since Oct. 26, 2011 (three weeks ago), when it was also 0.31%.
The yield on the U.S. Treasury’s 10-year dropped nine basis points this week, to 1.96%. It is at its lowest level since Sept. 22, 2011 (eight weeks ago), when it was 1.71%.
The yield on the Treasury’s 30-year bond declined 12 basis points this week, to 2.98%, which is its lowest level since Oct. 6, 2011 (six weeks ago), when it was 2.96%.
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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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