Illinois Bond Yields Rise to Nine-Month High
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Illinois debt is trading at the highest average yield in almost nine months as investors demand greater returns to hold the securities following credit downgrades by Moody’s Investors Service and Fitch Ratings.
Taxable Illinois pension-obligation bonds maturing in June 2033 traded yesterday at an average yield of about 5.42 percent, the highest since Sept. 17, data compiled by Bloomberg show. The securities averaged about 96 cents on the dollar, down from 101 cents May 17. The yield climbed to about 2.63 percentage points more than benchmark Treasuries, the biggest amount since May 9.