Muni bond Friday update: 10-year yield rises

FeaturesAssociated Press

A look at the AP Municipal Bond Index for Friday, Nov. 10:

BIGGEST MOVER: One-year bonds. Yield increased 10 basis points over the last week to 1.15 percent.

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TWO-YEAR: Yield increased 2 basis points to 1.26 percent. The two-year/10-year spread is 100 basis points, down from 110 basis points a week ago. The two-year/30-year spread is 153 basis points, down from 165 basis points a week ago.

10-YEAR: Yield increased 2 basis points to 2.26 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. 3. The 10-year/30-year spread for municipal bonds is 53 basis points.

30-YEAR: Yield increased by 3 basis points to 2.79 percent, compared with 2.88 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/