Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending May 3, 2013

Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending May
                                   3, 2013


Russell Fisher
Vice President
(801) 844-7826

Alison Andersen
Communications Officer
(801) 844-7710

Zions Direct Municipal Bond Market Snapshot for Week Ending May 3, 2013

Auction results and MSRB trade data for the week of April 29, 2013 to May 3,

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

Issuer                             Term     Rating      Auction Yield
Provo Sch Dist, UT GO              1 Month  Insured AAA 0.79%
Geneva City Sch Dist, NY GO        1 Month  Insured A   0.81%
Grand River Dam Auth, OK Rev       1 Month  Insured A   0.95%
Beekmantown Cntl Sch Dist, NY GO   1 Month  Insured BBB 1.08%
Easthampton, MA GO                 1 Month  Insured AA  1.11%
Tolleson, AZ GO                    2 Month  Insured A   0.70%
State of Hawaii, GO                2 Month  Insured AA  0.72%
State of Florida, GO               2 Month  AA          0.88%
Metro Tran Auth, NY Rev            2 Month  Insured AA  0.88%
Haddon, NJ GO                      3 Month  AA          0.70%
Los Angeles Cmnty Clg Dist, CA GO  3 Month  AA          0.88%
State of Ohio, GO                  4 Month  AA          0.88%
New Jersey Econ Dev Auth, NJ Rev   4 Month  Insured AA  1.11%
Peace River / Manasota Wat, FL Rev 5 Month  Insured AA  0.98%
Elizabeth, NJ GO                   6 Month  Insured A   1.06%
No Thurston Pub Schs, WA GO        7 Month  AA          0.99%
State of Washington, GO            8 Month  Insured AA  0.89%
State of Washington, GO            8 Month  Insured AA  0.90%
Grant Co Pub Util Dist #2, WA Rev  8 Month  Insured AA  1.00%
Desoto, TX GO                      9 Month  AA          0.93%
Clifton Hgr Ed Fin Corp, TX Rev    10 Month A           1.02%
Southeast Alabama Gas, AL Rev      13 Month Insured A   1.14%
Tucson USD #1, Pima Co, AZ GO      14 Month AA          1.10%
Deer Vly Un Sch Dist #97, AZ GO    14 Month Insured AA  1.20%
Laguna Salada Un Sch Dist, CA GO   15 Month Insured AA  1.29%
West Virginia Univ, WV Rev         17 Month Insured A   1.32%
Hgr Ed Student Asst Auth, NJ Rev   19 Month AA          1.39%
Roanoke, VA GO                     21 Month Insured AA  1.23%

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.

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% 0.33% 0.50% 0.57% 0.80% 1.23% 1.71%
AA             0.31% 0.33% 0.46% 0.69% 0.97% 1.43% 1.97%
A              0.34% 0.39% 0.59% 0.97% 1.19% 1.75% 2.14%
BBB            0.87% 0.53% 1.89% 1.92% 2.85% 3.46% 4.25%
Insured AAA-AA 0.49% 0.40% 0.56% 0.66% 1.07% 1.47% 1.93%

*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.


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 May 3, 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 May 3, 2013. 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.

   Investment products and services offered through Zions Direct, member of

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

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



This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: Zions Direct via Thomson Reuters ONE
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