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Public Finance Update
Bond Market Snapshot

In August, yields on both Treasuries and municipal securities dropped precipitously, despite the SEC’s rating downgrade of U.S. sovereign debt.  Yields on 10-year Treasury notes dropped from 2.95% to 2.19%, dipping as low as 2.07% during the month.  Yields on 30-year Treasuries fell from 4.26% to 3.60%.  Yields on municipal bonds fell from 2.74% to 2.20% on 10-year bonds and from 4.37% to 3.85% on 30-year bonds.

Source: Bloomberg (

Questions regarding the municipal bond market or any of the issues discussed in this Public Finance Update may be directed to Lewis Feldman, Chair of Goodwin Procter’s Los Angeles office and head of the firm’s Public Finance Practice, at, (213) 426-2688.

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