The Bond Buyer's 20-Bond Index ® is calculated at the close of business each Thursday. It represents the yield for a 20 general market municipal bonds maturing in 20 years and has an average rating equivalent to Moody's Aa2 and S&P's AA. The index has been a standard and widely accepted benchmark of the municipal bond market for many years. In response to the very high interest rates during the 1970's, many municipalities and school districts were unable to sell bonds with a 20-year maturity structure due to state laws limiting the interest rate that could be paid. As a result some states, including Illinois, amended their statutes tying the maximum permitted interest rate to the 20--Bond Index.
In addition to the 2-year chart (which is presented in a format that can be printed and used to write in the weekly index number), we have included the data for the years 2000 to the present to help with additional analysis. Finally, we are providing a chart of the trend for the past seven years. This chart is based on the median for each year. We chose this format to smooth out the weekly variations. Anyone wishing to to the data in MS Excel ® format may contact the webmaster by clicking the link at the bottom of this page.
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Modified February 2, 2007