Muni bond Monday update: 10-year yield decreases

Markets Associated Press

A look at the AP Municipal Bond Index for Monday, Sept. 18:

Continue Reading Below

BIGGEST MOVER: Eight-year bonds. Yield rose 6 basis points over the last week to 1.83 percent.

TWO-YEAR: Yield decreased 1 basis point to 0.96 percent. The two-year/10-year spread is 128 basis points, compared with 128 basis points a week ago. The two-year/30-year spread is 187 basis points, up from 186 basis points a week ago.

10-YEAR: Yield fell less than a basis point to 2.25 percent, compared with 2.23 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. 11. The 10-year/30-year spread for municipal bonds is 59 basis points.

30-YEAR: Yield decreased by less than a basis point to 2.83 percent, compared with 2.80 percent for a 30-year Treasury.

_____

Continue Reading Below

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