Zions Direct Municipal Bond Market Snapshot for Week Ending October 5, 2012 Auction customers received average yields 71 basis points higher than market

SALT LAKE CITY, Oct. 9, 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 $2 billion in more than 7,000 fixed-income auctions.

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In auctions closed from October 1, 2012 to October 5, 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)

Logan-Hocking Sch Dist, OH GO

2 Month

Insured AA

0.90%

0.38%

52

Davidson Cnty, NC GO

8 Month

AA

1.20%

0.33%

87

Rio Grande City Ind SD, TX GO

10 Month

Insured A

1.29%

0.38%

91

State of Florida Bd of Ed, FL GO

20 Month

AA

1.30%

0.49%

81

Sierra Vista Muni Prty Crp, AZ Rev

4.5 Year

A

1.98%

1.29%

69

De Kalb Cnty, GA GO

2 Month

AA

1.17%

0.33%

84

Charlotte, NC GO

4 Month

AAA

0.85%

0.29%

56

State of Hawaii, GO

6 Month

Insured AA

0.90%

0.38%

52

Monroe, LA Rev

9 Month

Insured AA

1.30%

0.38%

92

Wylie, TX GO

16 Month

Insured AA

1.40%

0.38%

102

Mesa Cnty Sch Dist #50, CO GO

2 Month

AA

0.90%

0.33%

57

Westfield Sch Dist, NJ GO

5 Month

Insured AA

0.89%

0.38%

51

State of Florida, Rev

9 Month

A

1.07%

0.42%

65

Allentown, PA Rev

1 Year

A

1.28%

0.50%

78

State of Florida Bd of Ed, FL GO

20 Month

Insured AA

1.29%

0.56%

73

Texas Pub Fin Auth, TX Rev

2 Month

Insured AA

0.88%

0.38%

50

Oklahoma St Dev Fin Auth, Rev

8 Month

AA

0.90%

0.33%

57

Houston ISD, TX GO

9 Month

AA

0.90%

0.37%

53

Grand Prairie, TX GO

16 Month

Insured AA

1.24%

0.38%

86

Pima Cnty, AZ Rev

21 Month

AA

1.39%

0.49%

90

Miamisburg, OH GO

2 Month

Insured AA

1.00%

0.38%

62

Keller, TX GO

4 Month

AA

0.87%

0.33%

54

Windsor Heights, IA GO

8 Month

AA

1.00%

0.33%

67

United Indep Sch Dist, TX GO

10 Month

Insured AA

1.25%

0.38%

87

Hancock Cnty, OH GO

14 Month

AA

1.28%

0.37%

91

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 SNAPSHOT

Municipal 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

0.27%

0.29%

0.44%

0.50%

0.74%

1.17%

1.61%

AA

0.32%

0.38%

0.48%

0.61%

0.98%

1.44%

1.89%

A

0.40%

0.55%

0.61%

1.08%

1.37%

1.86%

2.49%

BBB

0.74%

0.90%

1.51%

2.01%

2.49%

2.57%

3.52%

Insured AAA-AA

0.35%

0.42%

0.51%

0.64%

1.11%

1.53%

1.59%









*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 Disclaimer
MSRB bond trade data displayed as weighted average yield. Municipal bond information from MSRB as of October 5, 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 October 5, 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



RELATED LINKS
http://www.zionsdirect.com

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