BB Indexes strengthen; yields reach three-week lows
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.99% from 4.00% the week before.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields decreased five basis points to 3.87% from 3.92% the previous week. It is at its lowest level since May 31, when it was at 3.78%.
The 11-Bond GO Index of higher-grade 11-year GOs dropped five basis points to 3.35% from 3.40% the previous week. It is at its lowest level since three weeks ago, when it was 3.26%.
The Bond Buyer's Revenue Bond Index fell five basis points to 4.36% from 4.41% last week. It is at its lowest level since May 31, when it was at 4.27%.
The yield on the U.S. Treasury's 10-year note was lower at 2.90% from the previous week while the yield on the 30-year Treasury decreased to 3.04% from 3.05%.