Provident Capital - Municipal Financial Advisors

May 17, 2012

Thee Bond Buyer's 20-Bond Index® reversed its descent by gaining 4 basis points to end at 3.75. During the same five-day trading, the 10-year U.S. Treasury bond dropped 19 basis point leading to us believe the small rise in the Index is due to technical factors rather than interest rate trends.

Below are links to The Bond Buyer's ® 20- Bond Index along with a chart showing the trend of the Bond Buyer's ® 20-Bond Index for the past two years. For those interested, we have data for prior years and will be pleased to provide it upon request.

PLEASE NOTE: Due to the drop in the index on October 1,2009, we changed the scale on the chart below by lowering the minimum by 25 basis points.

The Bond Buyer 20-Bond Index	Chart

The Municipal Securities Rulemaking Board's EMMA system is now mandatory for new issue disclosure as well as continuing disclosure. Both the preliminary and final official statements can be downloaded from the following web address: EMMA. And now, information on bond ratings has been added.

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Modified May 20, 2012

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