The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices fell five basis points to 4.16% from the previous week's 4.21%.

The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields was eight basis points lower to 3.73% from 3.81% in the prior week. It is at its lowest level since April 20, when it was at 3.71%.

The 11-Bond GO Index of higher-grade 20-year GO yields decreased by eight basis points to 3.24% from 3.32% in the previous week. It is at its lowest level since five weeks ago, when it was at 3.22%.

The Bond Buyer's Revenue Bond Index dropped nine basis points to 3.92% from 4.01% last week. It is at its lowest level since April 20, when it was at 3.91%.

The yield on the U.S. Treasury's 10-year note was 17 basis points lower to 2.23% from 2.40%, while the yield on the Treasury's 30-year bond decreased 12 basis points to 2.91% from 3.03% 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.