The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields increased 12 basis points this week, to 3.84%. It is at its highest level since Dec. 29, 2011 (10 weeks ago), when it was 3.88%.
The 11-Bond GO Index of higher-grade 20-year GO yields rose 11 basis points this week, to 3.58%. This is its highest level since Dec. 29, 2011 (10 weeks ago), when it was 3.62%.
The Revenue Bond Index, which measures 30-year revenue bond yields, gained three basis points this week, to 4.76%. It is at its highest level since Feb. 9, 2012 (four weeks ago), when it was 4.77%.
The Bond Buyer’s One-Year Note Index, which is based on one-year GO note yields, dropped one basis point this week, to 0.24%, but remained above its 0.23% level from two weeks ago.
The yield on the U.S. Treasury’s 10-year note was unchanged points this week, at 2.03%. It continues to be at its highest level since Feb. 9, 2012 (four weeks ago), when it was 2.04%.
The yield on the Treasury’s 30-year bond gained three basis points this week, to 3.18%. This is its highest level since Feb. 9, 2012 (four weeks ago), when it was 3.19%.
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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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