In the week ended May 25, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell five basis points to 4.11% from 4.16% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields was four basis points lower to 3.69% from 3.73% in the prior week. It is at its lowest level since Nov. 10, when it was at 3.52%.

The 11-Bond GO Index of higher-grade 20-year GO yields decreased four basis points to 3.20% from 3.24% in the previous week. It is at its lowest level since 29 weeks ago, when it was at 3.10%.

The Bond Buyer's Revenue Bond Index dropped five basis points to 3.87% from 3.92% last week. It is at its lowest level since Jan. 12, when it was at 3.83%.

The yield on the U.S. Treasury's 10-year note was two basis points higher to 2.25% from 2.23%, while the yield on the Treasury's 30-year bond increased one basis point to 2.92% from 2.91% in the prior week.

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Aaron Weitzman

Aaron Weitzman

Aaron Weitzman is a markets reporter for The Bond Buyer, focusing on the sell side of the municipal bond market.