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Michigan tax-exempt bond benchmark rates

Authored by: Andy Campbell, CPA, Manager

Michigan municipal bond interest rates continue to hover around historical lows. Below is a table that details various tax-exempt interest rate options and history. The 11-Bond and 20-Bond indexes are national indexes. The USDA and State Revolving Fund interest rates apply to Michigan bond issues. 

(1) General Obligation (GO) bonds maturing in 20 years are used in compiling these indexes.  The 11-Bond GO Index has an average equivalent to Moody’s Aa1 and S&P’s AA+, while the 20-Bond GO Index is equivalent to Moody’s Aa2 and S&P’s AA. 

* For informational purposes only and not a recommendation.  Baker Tilly is not responsible for errors in reporting rates.  Rates subject to change.

Sources:

1 https://www.bondbuyer.com/

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