Muni bond Friday update: 10-year yield rises
A look at the AP Municipal Bond Index for Friday, Sept. 29:
BIGGEST MOVER: One-year bonds. Yield climbed 10 basis points over the last week to 1.02 percent.
TWO-YEAR: Yield rose less than a basis point to 1.08 percent. The two-year/10-year spread is 123 basis points, down from 127 basis points a week ago. The two-year/30-year spread is 180 basis points, down from 184 basis points a week ago.
10-YEAR: Yield rose less than a basis point to 2.32 percent, compared with 2.33 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 2 basis points on Sept. 22. The 10-year/30-year spread for municipal bonds is 56 basis points.
30-YEAR: Yield fell by 1 basis point to 2.88 percent, compared with 2.86 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