| Friday, June 9, 2023 |
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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 |
| 06/02/23 | 5.11 | 5.37 | 5.46 | 5.24 | 4.50 | 4.14 | 3.85 | 3.79 | 3.70 | 4.04 | 3.89 |
| 06/05/23 | 5.18 | 5.30 | 5.42 | 5.17 | 4.47 | 4.11 | 3.82 | 3.76 | 3.69 | 4.04 | 3.89 |
| 06/06/23 | 5.03 | 5.27 | 5.42 | 5.18 | 4.48 | 4.11 | 3.81 | 3.75 | 3.66 | 4.00 | 3.85 |
| 06/07/23 | 4.93 | 5.29 | 5.41 | 5.16 | 4.56 | 4.22 | 3.94 | 3.88 | 3.80 | 4.12 | 3.95 |
| 06/08/23 | 5.08 | 5.24 | 5.39 | 5.13 | 4.51 | 4.16 | 3.85 | 3.79 | 3.71 | 4.04 | 3.88 |
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 6/08/2023
A Municipal Trader's Perspective
In the ever-evolving landscape of the taxable municipal bond market, investors are finding a renewed appreciation for the value of shorter investments. This sentiment stems from both the current economic conditions and the possibility of an impending recession. As we explore this market update, we shed light on the advantages of shorter investment durations and explain why now might be an opportune time to consider investing before rates potentially decrease further in the future.
Shorter investments, typically those with maturities ranging from one to five years, offer several benefits that make them particularly attractive in the present market environment. First and foremost, shorter-term bonds tend to carry lower interest rate risk compared to longer-term bonds. This is especially relevant considering the uncertainty surrounding the trajectory of interest rates amidst economic fluctuations.
By investing in shorter-term taxable municipal bonds now, investors can potentially secure more favorable rates should recession take hold and interest rates decline further.
As discussed in previous PMR editions, short OK issues continue to offer higher yields and nice spreads to other taxable alternatives. Consider this new issue that came to market this week.
We know times are tough, but we want to be a source of calm in the storm. Please reach out to your Country Club Capital Markets representative with any questions or concerns.
Shorter investments, typically those with maturities ranging from one to five years, offer several benefits that make them particularly attractive in the present market environment. First and foremost, shorter-term bonds tend to carry lower interest rate risk compared to longer-term bonds. This is especially relevant considering the uncertainty surrounding the trajectory of interest rates amidst economic fluctuations.
By investing in shorter-term taxable municipal bonds now, investors can potentially secure more favorable rates should recession take hold and interest rates decline further.
As discussed in previous PMR editions, short OK issues continue to offer higher yields and nice spreads to other taxable alternatives. Consider this new issue that came to market this week.
We know times are tough, but we want to be a source of calm in the storm. Please reach out to your Country Club Capital Markets representative with any questions or concerns.
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