All The Bond Buyer’s weekly yield indexes for long-term debt climbed this week, as muni yields continued to push higher, even increasing by as much as 10 basis points in spots Wednesday, prior to finally stabilizing yesterday.
“It’s a function of munis going from no bonds to no bid,” said Evan Rourke, portfolio manager at Eaton Vance. “We’ve come from being significantly cheaper. The shorter part of the curve may have given back a little, but that was the part of the curve that got impacted more, and that part of the curve had rallied more earlier. Rates are still lower than where they were earlier in the year.”