COVID-19 | Municipal Bond Market Update
Even as the US COVID-19 death toll tops 40,000 lives and unemployment insurance claims continue to rise by multiple millions with each report, we again saw municipal interest rates move in a favorable direction for our issuer clients for the week ending April 17, 2020. The 10-Year term for the Municipal Market Data Index (the MMD) closed last week at 1.07%, which was 0.13%, or 13 basis points (bps), lower than a week earlier when the 10-Year MMD closed at 1.20% on April 9, 2020, which was a movement reflected throughout the entire yield curve.
