Muni bond Thursday update: 10-year yield falls

Markets Associated Press

A look at the AP Municipal Bond Index for Thursday, Sept. 7:

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BIGGEST MOVER: One-year bonds. Yield fell 4 basis points over the last week to 0.91 percent.

TWO-YEAR: Yield climbed less than a basis point to 0.93 percent. The two-year/10-year spread is 126 basis points, down from 129 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 fell 1 basis point to 2.19 percent, compared with 2.05 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been widening over the last week. It was 9 basis points on Aug. 31. The 10-year/30-year spread for municipal bonds is 60 basis points.

30-YEAR: Yield fell by 1 basis point to 2.79 percent, compared with 2.66 percent for a 30-year Treasury.

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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/

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Keywords: Muni Bonds