Yields shown are represented by: 7-day tax exempt securities: Municipal SIFMA Index; 20-year municipal bond: Bloomberg Municipal 20-Year Index. Past performance is not indicative of future results. It is not possible to invest in an index. Alt Text: This line chart shows the yield-to-wor...
The average yield drawn from the index is taken from a survey of municipal bond traders who are asked to estimate what acurrent coupon bondfor each issuer in the indices would yield if the bond was sold atpar value. State and local governments can use the derived yield to estimate the max...