Muni bond Friday update: 10-year yield increases

Markets Associated Press

A look at the AP Municipal Bond Index for Friday, Nov. 17:

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BIGGEST MOVER: Three-year bonds. Yield climbed 7 basis points over the last week to 1.45 percent.

TWO-YEAR: Yield rose 1 basis point to 1.33 percent. The two-year/10-year spread is 96 basis points, down from 100 basis points a week ago. The two-year/30-year spread is 146 basis points, down from 152 basis points a week ago.

10-YEAR: Yield climbed 1 basis point to 2.29 percent, compared with 2.35 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 13 basis points on Nov. 10. The 10-year/30-year spread for municipal bonds is 51 basis points.

30-YEAR: Yield fell by 1 basis point to 2.80 percent, compared with 2.78 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/