Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending April 19, 2013

  Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending
                                April 19, 2013




  Contact:

Russell Fisher
Vice President
(801) 844-7826

Alison Andersen
Communications Officer
(801) 844-7710

Zions Direct Municipal Bond Market Snapshot for Week Ending April 19, 2013

Auction results and MSRB trade data for the week of April 15, 2013 to April
19, 2013

SALT LAKE CITY - Zions Direct, the online broker-dealer that allows its
customers to purchase corporate bonds in its daily web-based auctions,
announces its weekly auction results. Since 2006, Zions Direct has auctioned
over $2 billion in more than 9,000 fixed-income auctions.

Municipal Bond Auction Comparison Data(auction data from
auctions.zionsdirect.com)

Issuer                             Term     Rating      Auction Yield
Columbus City Sch Dist, OH GO      1 Month  Insured AA  0.85%
Edison, NJ GO                      1 Month  Insured AA  0.85%
New Mexico Fin Auth, NM Rev        1 Month  AA          0.89%
So Cal Public Pwr Auth, CA Rev     2 Month  A           0.78%
Baltimore, MD Rev                  2 Month  AA          0.88%
Douglas Cnty SD #10, NE GO         2 Month  AA          0.89%
Pennsylvania Indl Dev Auth, PA Rev 2 Month  A           0.90%
State of Wisconsin, Rev            2 Month  AA          0.90%
Maine Hlth & Hgr Ed Auth, ME Rev   2 Month  Insured AA  0.90%
South Carolina Pub Srv Auth, Rev   2 Month  Insured AA  1.00%
El Paso, TX GO                     4 Month  Insured A   0.85%
Broward Cnty, FL Rev               4 Month  Insured A   0.90%
Jurupa Cmnty Svcs Dist, CA Cop     4 Month  AA          1.00%
New Hanover Cnty, NC GO            7 Month  AA          0.83%
State of Hawaii, GO                13 Month AA          0.88%
Utah St Bldg Owrshp Auth, UT Rev   13 Month Insured AA  1.00%
Corvallis Sch Dist #509J, OR GO    14 Month AA          1.00%
State of New Mexico, Rev           14 Month AA          1.13%
New Mexico Fin Auth, NM Rev        14 Month Insured AA  1.25%
Virginia Pub Bldg Auth, VA Rev     15 Month AA          1.00%
Casey Cnty Sch Dist, KY Rev        15 Month AA          1.38%
Waubonsee Cmnty Clg, IL GO         20 Month AA          1.29%
Douglas Cnty SD #RE-1, CO GO       20 Month Insured AA  1.30%
Salt Lake Cnty, UT Rev             21 Month AAA         1.08%
Maine Muni Bd Bk, ME Rev           2.5 Year AA          1.85%
Granite Sch Dist, UT GO            3 Year   Insured AAA 1.25%
Alpine Sch Dist, UT GO             3 Year   Insured AAA 1.30%
Nevada Sys of Hgr Ed, NV Rev       3 Year   AA          1.59%
River Falls Sch Dist, WI GO        3 Year   AA          1.69%
Mingus High Sch Dist #4, AZ GO     3 Year   Insured A   1.90%

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.

ZIONS DIRECT / BONDDESK® MARKET SNAPSHOT
Municipal Bonds' Average Yields Trade Data* (source: MSRB)

               2013  2014  2015  2016  2018  2020  2023
Rating         <9mo  1 yr  2 yr  3 yr  5 yr  7 yr  10 yr
AAA            0.28% 0.31% 0.39% 0.61% 0.80% 1.20% 1.60%
AA             0.31% 0.33% 0.49% 0.67% 0.98% 1.39% 1.95%
A              0.32% 0.49% 0.63% 0.82% 1.24% 1.79% 2.22%
BBB            1.08% 1.01% 1.56% 2.39% 2.73% 3.46% 3.92%
Insured AAA-AA 0.40% 0.43% 0.55% 0.79% 1.07% 1.34% 1.85%

*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.

THE INFORMATION IN THE MARKET SNAPSHOT IS NOT INTENDED TO SERVE AS THE BASIS
FOR INVESTMENT DECISIONS. PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE
RESULTS.

For more information about Zions Direct and to sign up to receive the free
weekly e-newsletter, visit zionsdirect.com. This and past Market Snapshots can
be found at think.zionsdirect.com.

Market Snapshot Information Disclaimer
MSRB bond trade data displayed as weighted average yield. Municipal bond
information from MSRB as of April 19, 2013. 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 April 19, 2013. The aggregate
rating for each bond is based on average ratings from Moody's and S&P (when
available).

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.



   Investment products and services offered through Zions Direct, member of
                                 FINRA/SIPC.

  Investment Products: Not FDIC Insured · No Bank Guarantee · May Lose Value

      Zions Direct is a wholly owned non-bank subsidiary of Zions Bank.

                                    -end-

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Source: Zions Direct via Thomson Reuters ONE
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