The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.98%, from 3.99% last week.

The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields fell two basis points to 3.49% from 3.51% the prior week. It is at its lowest level since Nov. 3, when it was at 3.27%.

The 11-Bond GO Index of higher-grade 11-year GO was two basis points lower to 3.00% from 3.02% the previous week. It is at its lowest level since 45 weeks ago, when it was at 2.85%.

The Bond Buyer's Revenue Bond Index was down two basis points to 3.70% from 3.72% last week. It is at its lowest level since Aug. 3, when it was at 3.70%.

The yield on the U.S. Treasury's 10-year note decreased eight basis points to 2.05% from 2.13% last week, while the yield on the Treasury's 30-year was six basis point lower to 2.67% from 2.73% 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.