FYI: U.S. state and local government bonds headed toward their biggest weekly drop since President Donald Trump’s election, joining a selloff in the Treasury market amid speculation that a pickup in hiring may cause the Federal Reserve to raise interest rates more aggressively.
The yield on top-rated 30-year debt climbed 5 basis points Friday to 3.03 percent, the highest since May, after the Labor Department reported that payrolls grew in January at a faster-than-expected pace. Those yields have risen about 18 basis points this week, marking the steepest rise since Trump’s victory raised concerns that inflation would accelerate.
Regards,
Ted
https://www.bloomberg.com//news/articles/2018-02-02/municipal-bonds-head-to-worst-rout-since-trump-win-amid-selloff
