A look at the AP Municipal Bond Index for Wednesday, Nov. 15:
BIGGEST MOVER: Three-year bonds. Yield increased 10 basis points over the last week to 1.42 percent.
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TWO-YEAR: Yield was steady at 1.30 percent. The two-year/10-year spread is 99 basis points, down from 102 basis points a week ago. The two-year/30-year spread is 149 basis points, down from 153 basis points a week ago.
10-YEAR: Yield dropped 1 basis point to 2.29 percent, compared with 2.33 percent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 9 basis points on Nov. 8. The 10-year/30-year spread for municipal bonds is 51 basis points.
30-YEAR: Yield fell by 1 basis point to 2.79 percent, compared with 2.77 percent for a 30-year Treasury.
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/