Muni bond Tuesday update: 10-year yield decreases

Markets Associated Press

A look at the AP Municipal Bond Index for Tuesday, Nov. 7:

Continue Reading Below

BIGGEST MOVER: 30-year bonds. Yield fell 12 basis points over the last week to 2.78 percent.

TWO-YEAR: Yield climbed 1 basis point to 1.21 percent. The two-year/10-year spread is 103 basis points, down from 117 basis points a week ago. The two-year/30-year spread is 157 basis points, down from 173 basis points a week ago.

10-YEAR: Yield fell 4 basis points to 2.24 percent, compared with 2.32 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been widening over the last week. It was 5 basis points on Oct. 31. The 10-year/30-year spread for municipal bonds is 54 basis points.

30-YEAR: Yield decreased by 6 basis points to 2.78 percent, compared with 2.77 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/