Muni bond Thursday update: 10-year yield decreases

A look at the AP Municipal Bond Index for Thursday, Nov. 30:

BIGGEST MOVER: Four-year bonds. Yield increased 16 basis points over the last week to 1.73 percent.

TWO-YEAR: Yield increased less than a basis point to 1.51 percent. The two-year/10-year spread is 92 basis points, compared with 92 basis points a week ago. The two-year/30-year spread is 141 basis points, down from 143 basis points a week ago.

10-YEAR: Yield decreased 2 basis points to 2.43 percent, compared with 2.42 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 1 basis point on Nov. 22. The 10-year/30-year spread for municipal bonds is 48 basis points.

30-YEAR: Yield decreased by 3 basis points to 2.91 percent, compared with 2.83 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/