BB index yields drop 2 to 4 BPs

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In the week ended Feb. 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 4.04% from 4.06% the previous week.

The Bond Buyer's 20-Bond GO Index of 20-year general obligation yields declined four basis points to 4.19% from 4.23% the week before. It is at its lowest level since Jan. 17, when it was also at 4.19%.

The 11-bond GO Index of higher-grade 11-year GOs dipped four basis points to 3.66% from 3.70% in the previous week. It is at its lowest level since Jan. 3, when it was at 3.58%.

The Bond Buyer's Revenue Bond Index decreased to 4.66% from 4.70% the week before. It is at its lowest level since Jan. 17, when it was at 4.66%.

The yield on the U.S. Treasury's 10-year note inched up to 2.70% from 2.69%, while the yield on the 30-year Treasury rose to 3.07% from 3.05%.

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