Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending June 7, 2013

  Zions Direct : Zions Direct Municipal Bond Market Snapshot for Week Ending
                                 June 7, 2013


Russell Fisher
Vice President
(801) 844-7826

Alison Andersen
Communications Officer
(801) 844-7710

Zions Direct Municipal Bond Market Snapshot for Week Ending June 7, 2013

Auction results and MSRB trade data for the week of June 3, 2013 to June 7,

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
Montville, NJ GO                    1 Month  AAA        0.80%
Univ of Hawaii, HI Rev              1 Month  Insured A  0.81%
State of Wisconsin, Rev             1 Month  AA         0.86%
Grant Jt Union Sch Dist, CA GO      2 Month  Insured A  0.65%
Weston, CT GO                       2 Month  AAA        0.70%
So San Joaquin Irr Dist, CA Cop     2 Month  AA         1.19%
FSU Fin Asst Inc, FL Rev            4 Month  Insured A  0.85%
St Johns River Pwr, FL Rev          4 Month  Insured AA 0.86%
California Infra & Econ Dev, CA Rev 4 Month  Insured AA 0.88%
Miramar, FL Rev                     4 Month  Insured A  0.89%
Elizabeth, NJ GO                    5 Month  Insured A  0.89%
Modesto, Ca Rev                     5 Month  Insured A  0.89%
Lake Cnty Cmnty Clg Dist, OH GO     6 Month  AA         1.14%
Batavia, IL GO                      7 Month  Insured AA 1.10%
Florida Gulf Coast Univ, FL Rev     8 Month  A          0.90%
Ho-Ho-Kus Brd of Ed, NJ GO          8 Month  Insured AA 0.90%
Delano-Earlimart Irr Dist, CA COP   8 Month  AA         0.99%
Palestine Indep Sch Dist, TX GO     8 Month  Insured AA 1.00%
Fort Worth, TX GO                   9 Month  AA         0.97%
Texas Transportation Comm., GO      10 Month AA         0.85%
Evergreen Sch Dist #114, WA GO      1 Year   AA         1.00%
Jackson, TN GO                      1 Year   AA         1.04%
Kansas Dev Fin Auth, KS Rev         1 Year   AA         1.19%
Palmyra Sch Dist, PA GO             1 Year   Insured A  1.20%
North Brunswick Brd of Ed, NJ GO    19 Month Insured AA 1.30%
Charleston, SC Rev                  2.5 Year AA         1.75%
Nevada Sys of Hgr Ed, NV Rev        3 Year   AA         1.75%
Johnson County, KS GO               3.5 Year AAA        1.89%
State of Maine, ME GO               5 Year   AA         1.75%

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            0.38% 0.36% 0.44% 0.66% 1.06% 1.61% 2.00%
AA             0.30% 0.40% 0.52% 0.76% 1.20% 1.85% 2.37%
A              0.40% 0.48% 0.65% 0.98% 1.46% 2.12% 2.53%
BBB            0.70% 0.95% 1.93% 2.04% 3.03% 2.98% 3.89%
Insured AAA-AA 0.41% 0.41% 0.51% 0.80% 1.23% 1.75% 2.33%

*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 June 7, 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 June 7, 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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