The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields rose two basis points this week, to 5.41%. This is the highest level for the index since Dec. 18, 2008 (109 weeks ago), when it was 5.46%.
The 11-Bond GO Index of higher-grade 20-year GO yields also increased two basis points this week, to 5.16%, which is its highest level since Dec. 18, 2008 (109 weeks ago), when it was 5.25%.
The Revenue Bond Index, which measures 30-year revenue bond yields, gained six basis points this week, to 5.66%. This is its highest level since Aug. 13, 2009 (75 weeks ago), when it was also 5.66%.
The Bond Buyer's One-Year Note Index declined three basis points this week, to 0.52%, which is its lowest level since Nov. 10, 2010 (10 weeks ago), when it was 0.46%.
The yield on the U.S. Treasury's 10-year note rose 13 basis points this week, to 3.44%. This is the note's highest yield since May 13, 2010 (36 weeks ago), when it was 3.55%.
The yield on the Treasury's 30-year bond gained 10 basis points this week, to 4.60%, which is its highest level since April 29, 2010 (38 weeks ago), when it was also 4.60%.
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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.
6h ago -
Norman Regional Health System says it will use interim financing to make a Sept. 1 debt service payment that bondholders agreed to delay.
6h ago -
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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