Rates Over Time - Interest Rate Trends

The following graphs set forth information relating to municipal bond yields (interest rates) trends. Four of the graphs are based on "The Bond Buyer 20-Bond GO Index".  The 20-Bond GO Index is based on an average of certain general obligation municipal bonds maturing in 20 years and having an average rating equivalent of a Moody's Aa2 and a Standard & Poor's AA. The six graphs below are as follows (i) the 20-Bond GO Index for the past ten years, (ii) 20-Bond GO Index weekly yields over a twenty-four month period ending September 28, 2023 (iii) the Municipal Market Data index for rating grades "Aa", "A" and "Baa" maturing in the 20th year over a twenty-four month period ending September 28, 2023, (iv) the Municipal Market Data index for rating grades "Aa", "A" and "Baa" maturing in the 20th year since September 2008, (v) yields since 1972, and (vi) a comparison of the 20-Bond GO Index to 20-year US Treasury Bonds.