Alert September 17, 2010

Bond Market Snapshot

Municipal Bonds and Treasuries

The September 2010 yield on AAA-rated municipal bonds dropped slightly from 4.31% to 4.08% for 30-year bonds and from 2.64% to 2.30% for 10-year bonds. Yields on 30-year treasury bonds held relatively steady at 3.74%, and yields on 10-year treasury notes rose slightly from 2.63% to 2.67%, rising above munis for the first time since June 2010.

 

Source: Bloomberg (www.bloomberg.com)

Recent Municipal Bond Transactions

Issue DateBondsLast MaturityYield
August 19, 2010 $66,300,000 Jurupa Public Financing Authority Revenue Bonds, 2010 Series A (Superior Lien Bonds) (Insured by Assured Guaranty Municipal Corp.) September 1, 2039 5.100%
August 19, 2010 $20,085,000 Jurupa Public Financing Authority Revenue Bonds, 2010 Series B (Subordinate Lien Bonds) September 1, 2040 6.250%
August 19, 2010 $9,240,000 Community Facilities District No. 3 (Eastvale Area) of Jurupa Community Services District Special Tax Refunding Bonds, Series A of 2010 September 1, 2039 8.625%
August 17, 2010 $2,285,000 City of Desert Hot Springs Community Facilities District No. 2006-1 Improvement Area 1, Special Tax Refunding Bonds, Series 2010 September 1, 2038 6.540%
August 11, 2010 $24,975,000 City of Orange Community Facilities District No. 06-1 (Del Rio Public Improvements), 2010 Special Tax Bonds October 1, 2040 6.070%
August 11, 2010 $12,670,000 Community Facilities District No. 2008-1 of the Tejon Ranch Public Facilities Financing Authority (Tejon Industrial Complex Public Improvements – East), Special Tax Bonds, Series 2010-A September 1, 2040 7.375%
August 11, 2010 California School Finance Authority Educational Facilities Revenue Bonds (High Tech High Chula Vista K-8 Project), Series 2010 Qualified School Construction Bonds (Direct Subsidy Bonds) September 1, 2020 5.041%


Source:
Goodwin Procter LLP