Municipal bond yields ratcheted up more quickly the last three weeks than any other period in 2011. But instead of worrying the market, alienated investors are happy to see yields finally returning to attractive levels.

The Bond Buyer’s 20-bond general obligation index of 20-year GO yields climbed three basis points this week to a 10-week high of 4.17%, marking a third straight week of rising yields, from 3.85%.

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