SALT LAKE CITY, Sept. 18, 2012 /PRNewswire/ -- Zions Direct, the online broker-dealer that allows its customers to purchase municipal bonds in its daily web-based auctions, announces its weekly auction results. Since 2006, Zions Direct has auctioned over $1.9 billion in more than 6,000 fixed-income auctions.
In auctions closed from September 10, 2012 to September 14, 2012, investors purchasing municipal bonds in the auctions received average tax-exempt yields 0.71 percentage points, or 71 basis points, higher than similar bonds as reported by the Municipal Securities Rulemaking Board (MSRB).
Municipal Bond Auction Comparison Data (auction data from auctions.zionsdirect.com)
Issuer
Term
Rating
Auction Yield
MSRB
Difference
Avg Yield
(basis points)
Brighton Sch Dist #27J, CO GO
3 Month
AA
0.90%
0.31%
59
New Mexico Fin Auth, NM Rev
9 Month
Insured AA
1.36%
0.42%
94
Jersey City, NJ GO
23 Month
Insured AA
1.75%
0.59%
116
Triborough Brdg & Tunl, NY Rev
14 Month
Insured AA
1.15%
0.42%
73
Colo Springs Sch Dist #11, CO GO
3 Month
AA
1.00%
0.31%
69
Fort Worth Ind Sch Dist, TX GO
5 Month
Insured AAA
0.90%
0.34%
56
Clarence, NY GO
10 Month
AA
0.95%
0.34%
61
Garfield Cnty SD #16, CO GO
15 Month
Insured AA
1.70%
0.42%
128
Palm Beach Cnty, FL Rev
23 Month
AA
1.26%
0.48%
78
Renton Sch Dist #403, WA GO
2 Month
AA
0.90%
0.31%
59
Garland Ind Sch Dist, TX GO
5 Month
Insured AAA
1.02%
0.34%
68
Glendale Un Sch Dist #205, AZ GO
9 Month
AA
0.95%
0.34%
61
Irving, TX GO
1 Year
AAA
0.99%
0.29%
70
Katy Ind Sch Dist, TX GO
3.5 Year
Insured AAA
1.46%
0.76%
70
Vail, CO Rev
2 Month
AA
0.89%
0.31%
58
Richland Cnty Sch Dist #1, SC GO
5 Month
AA
0.87%
0.31%
56
Hillsborough Cnty Sch Brd, FL Cop
9 Month
AA
0.90%
0.34%
56
Cedar Hills, TX
17 Month
Insured AA
1.30%
0.42%
88
Beaufort Cnty Sch Dist, SC GO
2.5 Year
Insured AA
1.26%
0.59%
67
Pueblo Water Wks, CO Rev
1 Month
Insured AA
0.80%
0.34%
46
Greensboro, NC GO
4 Month
AAA
0.85%
0.28%
57
Boulder Cnty, CO Rev
10 Month
AA
0.84%
0.34%
50
Clark Cnty Pub Util Dist, WA Rev
15 Month
Insured AA
1.19%
0.42%
77
Tooele Cnty Sch Dist, UT GO
20 Month
Insured AAA
1.39%
0.59%
80
Average Difference
71
Zions Direct, in conjunction with BondDesk Group LLC, regularly publishes a Market Snapshot for investors to help understand the current bond market, summarizing current weighted-average yields of investment-grade municipal and corporate bonds.
ZIONS DIRECT / BONDDESK® MARKET SNAPSHOTMunicipal Bonds' Average Yields Trade Data* (source: MSRB)
2012 – 2013
2013
2014
2015
2017
2019
2022
Rating
<9mo<>
1 yr
2 yr
3 yr
5 yr
7 yr
10 yr
AAA
0.28%
0.29%
0.41%
0.54%
0.75%
1.26%
1.52%
AA
0.31%
0.34%
0.48%
0.71%
1.06%
1.59%
2.01%
A
0.40%
0.45%
0.66%
0.96%
1.45%
1.97%
2.26%
BBB
0.99%
1.24%
2.13%
2.17%
2.82%
3.14%
3.71%
Insured AAA-AA
0.34%
0.42%
0.59%
0.76%
1.09%
1.57%
1.73%
*Terms are defined as follows: < 9 months = anything up to .75 years to maturity; 1 year = anything greater than 0.75 years up to 1.5 years to maturity; 2 years = anything greater than 1.5 years up to 2.5 years to maturity; 3 years = anything greater than 2.5 years up to 4 years to maturity; 5 years = anything greater than 4 years up to 6 years to maturity; 7 years = anything greater than 6 years up to 8.5 years to maturity; 10 years = anything greater than 8.5 years up to 11.5 years to maturity.
THE INFORMATION IN THE MARKET SNAPSHOT IS NOT INTENDED TO SERVE AS THE BASIS FOR INVESTMENT DECISIONS. PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE RESULTS.
For more information about Zions Direct and to sign up to receive the free weekly e-newsletter, visit zionsdirect.com. This and past Market Snapshots can be found at think.zionsdirect.com.
Market Snapshot Information DisclaimerMSRB bond trade data displayed as weighted average yield. Municipal bond information from MSRB as of September 14, 2012. The Trade Data was developed by BondDesk Group based on information from MSRB's Real-Time Transaction Reporting System, and excludes transactions in taxable bonds. Auction information from auctions.zionsdirect.com as of September 14, 2012. The aggregate rating for each bond is based on average ratings from Moody's and S&P (when available).
Although information in this Market Snapshot is believed to be reliable, Zions Direct and BondDesk make no express or implied warranties of any kind regarding this information, including as to its accuracy or completeness. Auction data excludes bonds in undersubscribed auctions. Any specific weekly results may be heavily influenced by large, atypical volatility, trade volume, or other unusual investing events.
Municipal bonds are exempt from federal tax and may or may not be tax-exempt in individual states. The inclusion of municipal bonds selected by tax-exempt status is generated from pertinent federal tax attributes as populated from Muller, IDC, and/or BD ATS data sources.
Investment products and services offered through Zions Direct, member of FINRA/SIPC.
Investment Products: Not FDIC Insured • No Bank Guarantee • May Lose Value
Zions Direct is a wholly owned non-bank subsidiary of Zions Bank.
SOURCE Zions Direct
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