Muni bond Monday update: 10-year yield decreases

Markets Associated Press

A look at the AP Municipal Bond Index for Monday, Nov. 6:

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BIGGEST MOVER: 30-year bonds. Yield fell 6 basis points over the last week to 2.84 percent.

TWO-YEAR: Yield decreased less than a basis point to 1.20 percent. The two-year/10-year spread is 109 basis points, down from 118 basis points a week ago. The two-year/30-year spread is 163 basis points, down from 174 basis points a week ago.

10-YEAR: Yield fell 2 basis points to 2.29 percent, compared with 2.32 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 3 basis points on Oct. 30. The 10-year/30-year spread for municipal bonds is 55 basis points.

30-YEAR: Yield fell by 2 basis points to 2.84 percent, compared with 2.80 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/