Muni bond Monday update: 10-year yield rises
A look at the AP Municipal Bond Index for Monday, Sept. 11:
BIGGEST MOVER: Eight-year bonds. Yield dropped 5 basis points over the last week to 1.76 percent.
TWO-YEAR: Yield rose less than a basis point to 0.92 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 186 basis points, down from 189 basis points a week ago.
10-YEAR: Yield increased 1 basis point to 2.20 percent, compared with 2.14 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 7 basis points on Sept. 1. The 10-year/30-year spread for municipal bonds is 58 basis points.
30-YEAR: Yield climbed by 1 basis point to 2.79 percent, compared with 2.75 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