Muni bond Tuesday update: 10-year yield decreases
A look at the AP Municipal Bond Index for Tuesday, Sept. 19:
BIGGEST MOVER: Eight-year bonds. Yield climbed 4 basis points over the last week to 1.82 percent.
TWO-YEAR: Yield increased less than a basis point to 0.96 percent. The two-year/10-year spread is 128 basis points, down from 130 basis points a week ago. The two-year/30-year spread is 188 basis points, compared with 187 basis points a week ago.
10-YEAR: Yield fell 1 basis point to 2.24 percent, compared with 2.24 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 6 basis points on Sept. 12. The 10-year/30-year spread for municipal bonds is 59 basis points.
30-YEAR: Yield dropped by less than a basis point to 2.84 percent, compared with 2.81 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