Muni bond Monday update: 10-year yield rises

Markets Associated Press

A look at the AP Municipal Bond Index for Monday, Nov. 13:

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BIGGEST MOVER: One-year bonds. Yield climbed 12 basis points over the last week to 1.17 percent.

TWO-YEAR: Yield climbed less than a basis point to 1.28 percent. The two-year/10-year spread is 101 basis points, down from 108 basis points a week ago. The two-year/30-year spread is 153 basis points, down from 164 basis points a week ago.

10-YEAR: Yield climbed 2 basis points to 2.29 percent, compared with 2.40 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been widening over the last week. It was 4 basis points on Nov. 6. The 10-year/30-year spread for municipal bonds is 52 basis points.

30-YEAR: Yield increased by 1 basis point to 2.81 percent, compared with 2.87 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/