Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – both floating and swap-to-fixed as well as the credit spreads of key local and state entities with data as of March 31, 2019. At the end of March, the yield on the benchmark 10-year U.S. treasury note fell below the 3-month short term yield as fixed-income investors continued to worry about growth and a possible deceleration in the U.S. economy. The last time the 3-month treasury yield exceeded the 10-year yield was in July 2007. The probability of a rate hike through 2020 declined to zero based on U.S. Fed Funds Futures.
Municipal Yield Curves
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The Municipal Market Update is written for those making credit and investment related decisions for municipalities and non-profit institutions. If you have additional questions or would like to learn more about our municipal advisory and investment banking services, visit our Municipal Advisory page and contact Michael Stone, CFA.