August 28, 2014
The Bond Buyer's 20-Bond Index® hit a another new low for the year at 4.17, down 4 basis points from the previous week. Typically, activity in the tax-exempt market slows noticeably in the last half of August as traders and underwriters head for vacation before the Labor Day holiday. Sometimes, but not always, the result is lower yields on municipal bonds. That is the case this year, but last year yields hit the high of 2013 on September 5, 2013.
Below are links to The Bond Buyer's ® 20- Bond Index along with a chart showing the trend of the Bond Buyer's ® 20-Bond Index for the past two years. For those interested, we have data for prior years and will be pleased to provide it upon request.
The Municipal Securities Rulemaking Board's EMMA system is now mandatory for new issue disclosure as well as continuing disclosure and bond ratings for rated issues. Both the preliminary and final official statements can be downloaded from the following web address: EMMA.
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Modified September 1, 2014