Muni bond Tuesday update: 10-year yield increases

Markets Associated Press

A look at the AP Municipal Bond Index for Tuesday, Oct. 24:

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BIGGEST MOVER: Nine-year bonds. Yield increased 4 basis points over the last week to 2.12 percent.

TWO-YEAR: Yield rose 2 basis points to 1.11 percent. The two-year/10-year spread is 117 basis points, down from 120 basis points a week ago. The two-year/30-year spread is 175 basis points, compared with 176 basis points a week ago.

10-YEAR: Yield increased less than a basis point to 2.28 percent, compared with 2.42 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. 17. The 10-year/30-year spread for municipal bonds is 58 basis points.

30-YEAR: Yield climbed by 1 basis point to 2.86 percent, compared with 2.92 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/