Muni bond Wednesday update: 10-year yield rises

Markets Associated Press

A look at the AP Municipal Bond Index for Wednesday, Nov. 22:

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BIGGEST MOVER: Two-year bonds. Yield increased 11 basis points over the last week to 1.41 percent.

TWO-YEAR: Yield climbed 4 basis points to 1.41 percent. The two-year/10-year spread is 92 basis points, down from 99 basis points a week ago. The two-year/30-year spread is 143 basis points, down from 150 basis points a week ago.

10-YEAR: Yield climbed 3 basis points to 2.33 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 Nov. 15. The 10-year/30-year spread for municipal bonds is 52 basis points.

30-YEAR: Yield increased by 2 basis points to 2.84 percent, compared with 2.75 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/