Top-Rated 10-Year Muni Yields Rise to Highest in Four Months
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Yields on top-rated tax-exempt bonds due in 10 years climbed to a four-month high as the market absorbed the highest weekly issuance of municipal debt in at least seven years.
Ten-year AAA general obligations jumped 0.04 percentage point to 2.67 percent at 11:07 a.m. in New York, the highest since July 9, according to a BVAL municipal benchmark index. States and local governments are selling $16.3 billion in debt this week, the most on record, according to data compiled by Bloomberg dating to 2003.