Muni bond Thursday update: 10-year yield falls

Markets Associated Press

A look at the AP Municipal Bond Index for Thursday, Nov. 16:

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BIGGEST MOVER: Three-year bonds. Yield increased 9 basis points over the last week to 1.43 percent.

TWO-YEAR: Yield rose 1 basis point to 1.31 percent. The two-year/10-year spread is 97 basis points, down from 100 basis points a week ago. The two-year/30-year spread is 149 basis points, down from 152 basis points a week ago.

10-YEAR: Yield fell 2 basis points to 2.28 percent, compared with 2.37 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been widening over the last week. It was 9 basis points on Nov. 9. The 10-year/30-year spread for municipal bonds is 52 basis points.

30-YEAR: Yield rose by less than a basis point to 2.80 percent, compared with 2.81 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/