Muni bond Tuesday update: 10-year yield rises

Markets Associated Press

A look at the AP Municipal Bond Index for Tuesday, Sept. 12:

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BIGGEST MOVER: Three-year bonds. Yield climbed 3 basis points over the last week to 1.02 percent.

TWO-YEAR: Yield decreased less than a basis point to 0.93 percent. The two-year/10-year spread is 130 basis points, up from 129 basis points a week ago. The two-year/30-year spread is 188 basis points, down from 189 basis points a week ago.

10-YEAR: Yield climbed 2 basis points to 2.23 percent, compared with 2.17 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 14 basis points on Sept. 5. The 10-year/30-year spread for municipal bonds is 58 basis points.

30-YEAR: Yield increased by 2 basis points to 2.81 percent, compared with 2.78 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