Muni bond Thursday update: 10-year yield decreases

Markets Associated Press

A look at the AP Municipal Bond Index for Thursday, Oct. 19:

Continue Reading Below

BIGGEST MOVER: 30-year bonds. Yield decreased 6 basis points over the last week to 2.82 percent.

TWO-YEAR: Yield rose less than a basis point to 1.08 percent. The two-year/10-year spread is 118 basis points, down from 122 basis points a week ago. The two-year/30-year spread is 174 basis points, down from 179 basis points a week ago.

10-YEAR: Yield dropped 2 basis points to 2.26 percent, compared with 2.33 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been widening over the last week. It was 3 basis points on Oct. 12. The 10-year/30-year spread for municipal bonds is 56 basis points.

30-YEAR: Yield dropped by 1 basis point to 2.82 percent, compared with 2.83 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/