The Bond Buyer’s weekly yield indexes increased this week as the absence of an extension of the Build America Bond program in a new tax bill led to two ­consecutive mid-week routs that brought 20-year yields to a 17-month high.

“There’s been a lot of volatility this week,” Evan Rourke, ­portfolio manager at Eaton Vance, said Thursday. “There’s still a lot of confusion with BABs. Today they were dead, yesterday they were getting extended, the day before they’re dead, and so on. All in all, not a great week for munis.”

Rourke added that the market will continue to see patches of weakness until there is certainty over the future of the BAB ­program.

“A fair amount” of weakness is priced in if the program is not extended, “but perhaps not all of it,” he said. “I think getting through the [30-year Treasury] auction is the big factor helping us today, allowing munis to get more ­support. The relative value is helping us.”

The Bond Buyer 20-bond index of 20-year general obligation bond yields rose 21 basis points this week to 4.86%. This is the highest level for the index since June 18, 2009, when it was also 4.86%.

The 11-bond GO index of higher-grade 20-year GO yields also increased 21 basis points this week, to 4.60%, the highest it has been since June 18, 2009, when it was also 4.60%.

The revenue bond index, which measures 30-year revenue bond yields, gained 14 basis points this week to 5.32%. This is its highest level since Sept. 10, 2009, when it was 5.33%.

The Bond Buyer one-year note index, which is based on one-year tax-exempt note yields, rose three basis points this week to 0.57%, its highest level since July 7, when it was 0.59%.

The yield on the 10-year Treasury note rose 22 basis points this week to 3.22%. It is at its highest level since June 10, when it was 3.32%.

The yield on the 30-year ­Treasury bond increased 14 basis points this week to 4.41%, which is the highest it has been since May 13, when it was 4.45%.

The weekly average yield to maturity on The Bond Buyer’s 40-bond municipal bond index, which is based on 40 long-term municipal bond prices finished at 5.41%, up 14 basis points from last week’s 5.27%, the highest level since Dec. 30, 2009.

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