Most BB indexes see double-digit drops
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.96% from 3.99% the week before.
The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields sunk 12 basis points to 3.92% from 4.04% the week before. It is at its lowest level since July 26, 2018, when it was at 3.90%.
The 11-bond GO Index of higher-grade 11-year GOs dropped 10 basis points to 3.43% from 3.53% in the previous week. It is at its lowest level since Aug. 23, 2018, when it was at 3.42%.
The Bond Buyer's Revenue Bond Index declined 12 basis points to 4.39% from 4.51% the week before. It is at its lowest level since July 12, 2018, when it was at 4.34%.
The yield on the U.S. Treasury's 10-year note fell to 2.54% from 2.63%, while the yield on the 30-year Treasury was lower to 2.97% from 3.05%.