The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields increased four basis points this week, to 5.29%. This is the highest level for the index since Jan. 20, 2011 (three weeks ago), when it was 5.41%.
The 11-Bond GO Index of higher-grade 20-year GO yields also gained four basis points this week, to 5.04%, which is the highest it has been since Jan. 20, 2011 (three weeks ago), when it was 5.16%.
The Revenue Bond Index, which measures 30-year revenue bond yields, rose four basis points this week, as well, to 5.67%. It is now at its highest level since Aug. 6, 2009 (79 weeks ago), when it was 5.68%.
The Bond Buyer's One-Year Note Index declined five basis points this week, to 0.51%. This is its lowest level since Nov. 10, 2010 (13 weeks ago), when it was 0.46%.
The yield on the U.S. Treasury's 10-year note increased 14 basis points this week, to 3.70%. This is the highest the yield has been since April 29, 2010 (41 weeks ago), when it was 3.74%.
The yield on the Treasury's 30-year bond gained 13 basis points this week, to 4.80%, which is the highest the yield has been since Oct. 11, 2007 -- nearly three and a half years ago -- when it was 4.87%.
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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.
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Norman Regional Health System says it will use interim financing to make a Sept. 1 debt service payment that bondholders agreed to delay.
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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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