Muni bond Friday update: 10-year yield decreases

Markets Associated Press

A look at the AP Municipal Bond Index for Friday, Nov. 3:

Continue Reading Below

BIGGEST MOVER: 30-year bonds. Yield decreased 6 basis points over the last week to 2.85 percent.

TWO-YEAR: Yield rose less than a basis point to 1.20 percent. The two-year/10-year spread is 110 basis points, down from 118 basis points a week ago. The two-year/30-year spread is 166 basis points, down from 175 basis points a week ago.

10-YEAR: Yield decreased 2 basis points to 2.30 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 8 basis points on Oct. 27. The 10-year/30-year spread for municipal bonds is 55 basis points.

30-YEAR: Yield dropped by 2 basis points to 2.85 percent, compared with 2.82 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/