Muni bond Thursday update: 10-year yield rises
A look at the AP Municipal Bond Index for Thursday, Sept. 28:
BIGGEST MOVER: One-year bonds. Yield increased 12 basis points over the last week to 1.02 percent.
TWO-YEAR: Yield climbed 2 basis points to 1.07 percent. The two-year/10-year spread is 124 basis points, down from 128 basis points a week ago. The two-year/30-year spread is 181 basis points, down from 184 basis points a week ago.
10-YEAR: Yield increased 1 basis point to 2.31 percent, compared with 2.31 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 1 basis point on Sept. 21. The 10-year/30-year spread for municipal bonds is 57 basis points.
30-YEAR: Yield increased by 2 basis points to 2.88 percent, compared with 2.87 percent for a 30-year Treasury.
AP created this story using data from Municipal Bond Information Services and the U.S. Department of the Treasury. Learn more about the AP Municipal Bond Index at http://mbis.com/
Keywords: Muni Bonds