Muni bond Friday update: 10-year yield rises

Markets Associated Press

A look at the AP Municipal Bond Index for Friday, Oct. 6:

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BIGGEST MOVER: Three-year bonds. Yield climbed 4 basis points over the last week to 1.18 percent.

TWO-YEAR: Yield increased less than a basis point to 1.10 percent. The two-year/10-year spread is 124 basis points, compared with 123 basis points a week ago. The two-year/30-year spread is 179 basis points, compared with 179 basis points a week ago.

10-YEAR: Yield increased less than a basis point to 2.34 percent, compared with 2.37 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been widening over the last week. It was 1 basis point on Sept. 29. The 10-year/30-year spread for municipal bonds is 55 basis points.

30-YEAR: Yield rose by 1 basis point to 2.89 percent, compared with 2.91 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/