A look at the AP Municipal Bond Index for Wednesday, Sept. 13:
BIGGEST MOVER: Three-year bonds. Yield rose 5 basis points over the last week to 1.04 per cent.
TWO-YEAR: Yield increased 1 basis point to 0.95 per cent. The two-year/10-year spread is 128 basis points, up from 127 basis points a week ago. The two-year/30-year spread is 187 basis points, compared with 187 basis points a week ago.
10-YEAR: Yield decreased less than a basis point to 2.23 per cent, compared with 2.20 per cent for a 10-year Treasury. The gap between 10-year municipal bonds and Treasurys has been narrowing over the last week. It was 10 basis points on Sept. 6. The 10-year/30-year spread for municipal bonds is 59 basis points.
30-YEAR: Yield climbed by 1 basis point to 2.82 per cent, compared with 2.79 per cent 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/
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