BB yields continue descent
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.82% from 3.87% the week before.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields dropped six basis point to 3.73% from 3.79% the week before. It is at its lowest level since Feb. 8, 2018, when it was at 3.73%.
The 11-bond GO Index of higher-grade 11-year GOs fell five six points to 3.25% from 3.31% the previous week. It is at its lowest level since Feb. 8, 2018, when it was at 3.23%.
The Bond Buyer's Revenue Bond Index descended six basis points to 4.21% from 4.27% the week before. It is at its lowest level since Feb. 1, 2018, when it was at 4.21%.
The yield on the U.S. Treasury's 10-year note was slightly higher to 2.55% from 2.53%, while the yield on the 30-year Treasury dipped to 2.94% from 2.95%.