BB yields dive deeper, reach lows since Jan. ‘18

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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%.

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