| Wednesday, April 16, 2025 |
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MANAGING DIRECTOR: |
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US Treasury Market |
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| Date | 1 mo | 3 mo | 6 mo | 1 yr | 2 yr | 3 yr | 5 yr | 7 yr | 10 yr | 20 yr | 30 yr |
| 04/09/25 | 4.30 | 4.33 | 4.21 | 4.04 | 3.91 | 3.93 | 4.05 | 4.19 | 4.34 | 4.79 | 4.74 |
| 04/10/25 | 4.30 | 4.32 | 4.16 | 3.98 | 3.87 | 3.91 | 4.07 | 4.25 | 4.43 | 4.91 | 4.87 |
| 04/11/25 | 4.29 | 4.32 | 4.20 | 4.04 | 3.96 | 4.01 | 4.16 | 4.33 | 4.49 | 4.94 | 4.87 |
| 04/14/25 | 4.30 | 4.31 | 4.19 | 4.00 | 3.85 | 3.87 | 4.01 | 4.19 | 4.38 | 4.85 | 4.81 |
| 04/15/25 | 4.30 | 4.31 | 4.19 | 4.01 | 3.85 | 3.86 | 3.98 | 4.15 | 4.33 | 4.82 | 4.78 |
The data in the table above is static as of the time it was pulled, so rates may have changed. Treat all data in this table and PMR as indications only and availability is always subject to change. This information was pulled manually from sources we believe to be reliable. New source, as of 12/12/2022, Bloomberg, L.L.P. As of: close of business 4/15/2025.
A standard gauge of value when evaluating municipal securities is the Municipal/Treasury ratio, which simply calculates a tax-free municipal yield as a percentage of its corresponding Treasury yield. Historically, 80% of Treasuries has been a threshold of determining value – ratios over 80% indicates municipal bonds are cheap, whereas under 80% indicates they are expensive.
For the better part of the last three years, municipals inside of 10 years have traded extraordinarily rich in relation to US Treasuries at ratios well under 80%. This, along with liquidity constraints, largely forced bank municipal buyers to the sidelines.
Recently, the Municipal/Treasury yield relationships have undergone a welcome reordering. Below illustrates US Treasury (UST) yields alongside Bloomberg’s AA rated bank qualified GO yields as of January 2nd, 2025:
We have already seen increased bank demand as these ratios have normalized. Take a look at below offerings inside of 10 years currently owned & offered by Country Club Bank and reach out to your representative to take advantage of the current market.
This information is intended for institutional investors only. The material provided in this document/presentation is for informational purposes only and is intended solely for private use. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instruments.
•Not FDIC Insured •No Bank Guarantee •May Lose Value