| Friday, April 12, 2024 |
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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 |
| 04/05/24 | 5.35 | 5.37 | 5.34 | 5.06 | 4.75 | 4.56 | 4.40 | 4.41 | 4.40 | 4.66 | 4.55 |
| 04/08/24 | 5.38 | 5.38 | 5.34 | 5.08 | 4.79 | 4.61 | 4.43 | 4.43 | 4.42 | 4.66 | 4.55 |
| 04/09/24 | 5.38 | 5.36 | 5.32 | 5.04 | 4.74 | 4.56 | 4.38 | 4.37 | 4.36 | 4.60 | 4.50 |
| 04/10/24 | 5.39 | 5.41 | 5.37 | 5.21 | 4.97 | 4.80 | 4.61 | 4.59 | 4.55 | 4.75 | 4.62 |
| 04/11/24 | 5.39 | 5.40 | 5.36 | 5.16 | 4.96 | 4.80 | 4.63 | 4.62 | 4.59 | 4.80 | 4.68 |
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 4/11/2024.
Monitoring Your Municipal Credits
On April 8th of this week, S&P Global Ratings announced that it withdrew its ratings on 91 U.S. local governments and utility systems. They stated, “the withdrawals reflect our inability to obtain adequate and timely financial information necessary to maintain surveillance of the ratings in accordance with our applicable criteria and policies.” In essence, this is the Rating Agency’s way of inflicting a penalty upon the issuers for not providing annual disclosures in a timely way. It does not necessarily reflect any drop in credit quality or concern about the issuer’s financial stability, but it does send the strong message that proactive disclosure and dissemination of information is crucial to a municipality’s reputation. If the issuers demonstrate a pattern of becoming current with their disclosures, S&P could reinstate the ratings.
This provides a timely reminder that you can stay on top of rating changes, rating withdrawals, and any material disclosures for your municipal bond portfolio by utilizing the free MSRB EMMA (Electronic Municipal Market Access) data-port. You can register for the MyEMMA tool by creating a profile at https://gw.msrb.org/Gateway/Login?origin=emma.
You can then enter your municipal holdings by CUSIP to receive alerts of annual financial filings, ratings changes and other material events. You will be automatically subscribed to receive email notifications and you can use the MyEMMA Dashboard to manage your alert preferences. Please let us know if we can guide you in getting registered with EMMA or if you need assistance uploading your CUSIPs.
Thank you for your continued trust in our CCB Capital Markets Group. Have an enjoyable weekend!
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.
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