ETF Managers Group Bond Market Expert Bryce Doty in The Bond Buyer

Munis underperform UST rally

Municipals were stronger on the backs of a U.S. Treasury rally but underperformed the movements there, pushing ratios on the 10-year near 80% and the 30-year close to 90%.

Triple-A benchmark scales were bumped two to three basis points on bonds outside nine-years while the 10-year UST fell seven basis points and the 30-year fell 10 from a day prior.

Municipal-to-UST ratios showed the 5-year at 56%, the 10-year at 79% and the 30-year at 88%, according to Refinitiv MMD. ICE Data Services had the 5-year at 54%, 10-year at 79% and the 30 at 89%.