BB yields dive deeper, reach lows since Jan. ‘18
In the week ended May 9, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.78% from 3.82% the previous week.
The Bond Buyer's 20-bond GO Index of 20-year general obligation yields plummeted 10 basis points to 3.63% from 3.73% the week before. It is at its lowest level since Jan. 25, 2018, when it was at 3.59%.
The 11-bond GO Index of higher-grade 11-year GOs descended 10 basis points to 3.15% from 3.25% the previous week. It is at its lowest level since Jan. 25, 2018, when it was at 3.09%.
The Bond Buyer's Revenue Bond Index dropped 10 basis points to 4.11% from 4.11% the week before. It is at its lowest level since Jan. 25, 2018, when it was at 4.08%.
The yield on the U.S. Treasury's 10-year note was lower to 2.46% from 2.55%, while the yield on the 30-year Treasury sunk to 2.87% from 2.94%.