State and local government bonds jumped Thursday in a rebound rally, which followed three straight days of plummeting prices.
Benchmark yields on top-rated municipal debt declined as much as 49 basis points on Thursday. Ten-year benchmark bonds are yielding 3.32%, nearly 48 basis points lower than where they ended Wednesday, according to data compiled by Bloomberg. That would mark the biggest one-day rally since March 2020.
Bloomberg Markets
By Aashna Shah
April 10, 2025