Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending May 31, 2013

Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending May
                                   31, 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 31, 2013

Auction results and MSRB trade data for the week of May 27, 2013 to May 31,

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
State of Utah, GO                1 Month  AAA         0.70%
Peoria USD #11, Maricopa, AZ GO  1 Month  AA          0.79%
State of Wisconsin, Rev          1 Month  AA          0.86%
Yuma Union Sch Dist #70, AZ GO   1 Month  Insured A   0.90%
Pleasanton Unif Sch Dist, CA GO  2 Month  Insured BBB 0.86%
Gwinnett Cnty, GA Rev            2 Month  AAA         1.00%
State Pub Sch Bldg Auth, PA Rev  3 Month  A           0.79%
Murray State Univ, KY Rev        3 Month  Insured A   1.10%
Monroe Cnty, FL Rev              4 Month  Insured A   0.90%
Wichita, KS Rev                  4 Month  AA          1.23%
Fleming County, KY REV           5 Month  AA          0.88%
Exeter Twp Sch Dist, PA GO       5 Month  Insured AA  0.99%
Lexington Co Hlth Dist, SC Rev   5 Month  A           1.00%
Mountain Reg Wat SS Dist, UT Rev 6 Month  Insured BBB 1.00%
Jefferson Co Sch Dist, KY REV    9 Month  Insured AA  1.09%
Univ of North Texas Sys, TX Rev  10 Month Insured AA  1.00%
Kansas Dev Fin Auth, KS Rev      1 Year   AA          0.95%
Wilkinsburg Jt Wtr Auth, PA Rev  15 Month A           1.13%
West Virginia Univ, WV Rev       16 Month Insured A   0.88%
Menomonee Falls, WI GO           16 Month AA          1.40%
River Falls Sch Dist, WI GO      3 Year   AA          1.13%
Idaho Hlth Facs Auth, ID Rev     3.5 Year AA          1.75%
Forsyth Cnty, NC GO              4 Year   AAA         1.70%

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            0.31% 0.36% 0.44% 0.61% 1.00% 1.55% 2.01%
AA             0.38% 0.36% 0.48% 0.73% 1.16% 1.75% 2.24%
A              0.47% 0.56% 1.17% 0.96% 1.39% 2.16% 2.66%
BBB            1.20% 0.70% 2.24% 2.05% 3.41% 3.76% 3.13%
Insured AAA-AA 0.42% 0.43% 0.55% 0.72% 1.13% 1.60% 1.83%

*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 31, 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 31, 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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