Zions Direct Announces Municipal Bond Auction Results through June 8, 2012

  Zions Direct Announces Municipal Bond Auction Results through June 8, 2012

Auctions of Municipal Bonds for week ending June 8, 2012

PR Newswire

SALT LAKE CITY, June 12, 2012

SALT LAKE CITY, June 12, 2012 /PRNewswire/ --Zions Direct, the online
broker-dealer that allows its customers to purchase municipal bonds in its
daily web-based auctions, announces its weekly auction results. In auctions
closed from June 4, 2012 to June 8, 2012, investors purchasing municipal bonds
in the auctions received average tax-exempt yields 0.70 percentage points, or
70 basis points, higher than similar bonds as reported by the Municipal
Securities Rulemaking Board (MSRB).

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Zions Direct, in conjunction with BondDesk Group LLC, regularly publishes a
Market Snapshot for investors to help understand the current bond market,
summarizing current weighted-average yields of investment-grade municipal and
corporate bonds. Findings are compared against similar securities auctioned at
Zions Direct Auctions. Since February 2007, Zions Direct has auctioned over
1.1 billion dollars in more than 5,000 fixed-income auctions.

Municipal Bonds' Average Yields Trade Data (source: MSRB)

               2012 – 2013 2013  2014  2015  2017  2019  2022
Rating         <9mo        1 yr  2 yr  3 yr  5 yr  7 yr  10 yr
AAA            0.33%       0.36% 0.47% 0.60% 0.84% 1.31% 1.88%
AA             0.39%       0.41% 0.58% 0.77% 1.17% 1.62% 2.16%
A              0.46%       0.61% 0.95% 1.22% 1.65% 2.31% 2.65%
BBB            0.52%       1.19% 1.39% 2.03% 2.54% 2.76% 3.71%
Insured AAA-AA 0.50%       0.46% 0.65% 0.88% 1.22% 1.62% 2.12%

Municipal Bond Auction Comparison Data (auction data from

Issuer                       Term     Rating      Auction MSRB  Difference
                                                          Avg   (basis points)
Peoria, AZ GO                1 Month  Insured AA  0.80%   0.40% 40
New Jersey Trans Auth, NJ    6 Month  Insured A   1.00%   0.40% 60
Jordon School Dist, UT GO    1 Year   AAA         0.89%   0.33% 56
Colorado Springs, CO Rev     3.5 Year Insured AA  2.20%   0.81% 139
Daytona Beach, FL GO         1 Month  Insured AA  1.00%   0.40% 60
St Charles Mesa Wtr Dist, CO 6 Month  Insured BBB 1.25%   0.40% 85
Apex, NC GO                  1 Year   AA          0.99%   0.38% 61
Arizona Trans Brd, AZ Rev    2 Year   AA          1.62%   0.55% 107
Miami-Dade Cnty, FL Rev      4 Month  Insured AA  1.19%   0.40% 79
South Carolina Pub Srv Auth, 7 Month  AA          1.24%   0.36% 88
New York St Dorm Auth, NY    13 Month Insured A   1.40%   0.51% 89
Union City, NC GO            21 Month Insured AA  1.40%   0.56% 84
United Indep Sch Dist, TX GO 2 Month  Insured AAA 0.90%   0.40% 50
Univ of North Carolina, Rev  4 Month  AA          0.85%   0.36% 49
College Station, TX GO       8 Month  Insured AA  0.95%   0.40% 55
South Carolina Pub Srv Auth, 19 Month Insured AA  1.29%   0.56% 73
Arizona Wtr Infra Fin Auth,  4 Month  AAA         0.95%   0.35% 60
AZ Rev
State of Connecticut, GO     6 Month  AA          0.73%   0.36% 37
Durham County, NC GO         1 Year   AAA         0.97%   0.33% 64
Harris County, TX GO         16 Month AAA         0.91%   0.33% 58
Average Difference                                              70

For more information on Zions Direct and the BondDesk Market Snapshot go to
zionsdirect.com to sign up to receive the free weekly newsletter or visit
think.zionsdirect.com to view a Market Snapshot archive.


About Zions Direct

Zions Direct is a broker-dealer that specializes in offering securities for
self-directed and fixed income-focused investors. Zions Direct allows retail
investors to buy FDIC-insured certificates of deposit, corporate and municipal
bonds, and other investment products through its web-based Bond Store and
auction platforms. In addition, clients can invest in stocks, mutual funds,
and exchange-traded funds online or through a Zions Direct financial

About BondDesk Group LLC

BondDesk Group LLC is a financial technology firm, providing enterprise-wide
fixed income solutions to many of the top broker-dealers in North America. The
BondDesk Alternative Trading System (ATS), run by BondDesk Trading LLC,
connects broker-dealers through a centralized marketplace by offering a
diverse pool of liquidity for odd-lot fixed income securities in multiple
asset classes. The BondDesk ATS executes over 20,000 transactions per day by
providing 2,000 broker-dealers access to 35,000 live and executable offerings
from over 100 premier fixed income dealers. In addition, BondDesk Group is a
leading provider of innovative fixed income wealth management solutions,
advisor workstations and fixed income analytical tools and applications.

Market Snapshot Information Disclaimer

MSRB bond trade data displayed as weighted average yield. Municipal bond
information from MSRB as of June 8, 2012. The Trade Data was developed by
BondDesk Group based on information from MSRB's Real-Time Transaction
Reporting System, and excludes transactions in taxable bonds. Auction
information from auctions.zionsdirect.com as of June 8, 2012. The aggregate
rating for each bond is based on average ratings from Moody's and S&P (when

Although information in this Market Snapshot is believed to be reliable, Zions
Direct and BondDesk make no express or implied warranties of any kind
regarding this information, including as to its accuracy or completeness.
Auction data excludes bonds in undersubscribed auctions. Any specific weekly
results may be heavily influenced by large, atypical volatility, trade volume,
or other unusual investing events.

Municipal bonds are exempt from federal tax and may or may not be tax-exempt
in individual states. The inclusion of municipal bonds selected by tax-exempt
status is generated from pertinent federal tax attributes as populated from
Muller, IDC, and/or BD ATS data sources.

Terms are defined as follows: < 9 months = anything up to .75 years to
maturity; 1 year = anything greater than 0.75 years up to 1.5 years to
maturity; 2 years = anything greater than 1.5 years up to 2.5 years to
maturity; 3 years = anything greater than 2.5 years up to 4 years to maturity;
5 years = anything greater than 4 years up to 6 years to maturity; 7 years =
anything greater than 6 years up to 8.5 years to maturity; 10 years = anything
greater than 8.5 years up to 11.5 years to maturity.

Investment products and services offered through Zions Direct, member of
FINRA/SIPC, a non-bank subsidiary of Zions Bank are NOT insured by the FDIC or
any federal or state governmental agency, are NOT deposits or other
obligations of, or guaranteed by, Zions Bancorporation or its affiliates, and
MAY be subject to investment risks, including the possible loss of principal
value or amount invested.

SOURCE Zions Direct
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