Nearly all of The Bond Buyer’s weekly yield indexes declined this week, as tax-exempt bonds firmed up in nearly all sessions and new-issue supply lightened substantially from last week’s deluge.

“There was a lighter calendar, so there was less supply pressure out there,” said Fred Yosca, managing director and head of trading at BNY Capital ­Markets. “But there’s still an order out there for bonds. We’ve been seeing money put to work.

“I just don’t know where this ­money is coming from, because it’s not the time of year you typically see great retail flows. But there have been pretty good retail flows.

“And maybe with a lesser supply than a week ago, those issues that are coming are easier to digest, given the amount of cash that’s out there,” Yosca said. “But the market definitely has a good feel to it.”

After over $11 billion of new-issue supply came to market a week ago, the primary market quieted down this week. Several deals smaller than $400 million in size led the market.

Among them, Barclays Capital’s $381.6 tax-exempt and taxable offering for the Virginia College Building Authority, JPMorgan’s $305 million Dormitory Authority of the State of New York sale, and Raymond James & Co.’s $300 million Louisiana Citizens Property Insurance Corp. deal.

Against that backdrop, The Bond Buyer 20-bond index of 20-year general obligation bond yields declined eight basis points this week to 4.92%. This is the lowest that the index has been since Feb. 26, when it was 4.87%.

The 11-bond index of higher-grade 20-year GO yields declined seven basis points this week to 4.68%, which is the lowest level for the index since Feb. 26, when it was 4.65%.

The revenue bond index, which measures 30-year revenue bond yields, declined three basis points this week to 5.75%, which is the lowest it has been since Feb. 19, when it was 5.70%.

The 10-year U.S. Treasury note yield was unchanged at 2.75% this week.

The 30-year U.S. Treasury bond yield declined nine basis points this week to 3.57%, which is the lowest level since March 5, when it was 3.51%.

The Bond Buyer one-year note index, which is based on one-year tax-exempt GO yields, declined 14 basis points to an all-time low of 0.65%. The index began on July 12, 1989.

The weekly average yield to maturity on The Bond Buyer 40-bond municipal bond index finished at 5.57%, unchanged from last week.

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