Muni bond Monday update: 10-year yield rises

Markets Associated Press

A look at the AP Municipal Bond Index for Monday, Sept. 11:

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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.

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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