BB indexes see double-digit yield drops

Bonds

In the week ended March 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.87% from 3.96% the previous week.

The Bond Buyer’s 20-Bond GO Index of 20-year general obligation yields plummeted 13 basis points to 3.79% from 3.92% the week before. It is at its lowest level since May 31, 2018, when it was at 3.78%.

The 11-bond GO Index of higher-grade 11-year GOs fell 13 basis points to 3.30% from 3.43% in the previous week. It is at its lowest level since May 15, 2018, when it was at 3.26%.

The Bond Buyer’s Revenue Bond Index declined 13 basis points to 4.26% from 4.39% the week before. It is at its lowest level since Feb. 8, 2018, when it was at 4.22%.

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The yield on the U.S. Treasury’s 10-year note fell to 2.41% from 2.54%, while the yield on the 30-year Treasury was lower to 2.81% from 2.97%.

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