Muni bond Monday update: 10-year yield increases

Markets Associated Press

A look at the AP Municipal Bond Index for Monday, Oct. 2:

Continue Reading Below

BIGGEST MOVER: One-year bonds. Yield increased 9 basis points over the last week to 1.00 percent.

TWO-YEAR: Yield fell less than a basis point to 1.08 percent. The two-year/10-year spread is 125 basis points, down from 127 basis points a week ago. The two-year/30-year spread is 180 basis points, down from 183 basis points a week ago.

10-YEAR: Yield climbed 2 basis points to 2.33 percent, compared with 2.34 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 6 basis points on Sept. 25. The 10-year/30-year spread for municipal bonds is 55 basis points.

30-YEAR: Yield climbed by 1 basis point to 2.89 percent, compared with 2.87 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