Yields on The Bond Buyer's municipal bond indexes rose this week to their highest levels in more than three years, as the demand-starved market ignored favorable news on interest rates and prices spiraled downward for the fifth consecutive week.

The 20-bond and 11-bond indexes of general obligation yields jumped 10 basis points apiece, to 7.06% and 6.94%, respectively, from 6.96% and 6.84% last Thursday.

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