Zions Direct Announces Municipal Bond Auction Results

Auctions of Municipal Bonds for Week Ending June 24, 2011

Marketwired

SALT LAKE CITY, UT--(Marketwire - 06/28/11) - Zions Direct (www.zionsdirect.com), the online broker-dealer that allows its customers to purchase municipal bonds in its daily web-based auctions, announces their weekly auction results. In auctions closed from June 20, 2011 to June 24, 2011, investors purchasing municipal bonds in the auctions received average tax-exempt yields 0.68 percentage points, or 68 basis points, higher than similar bonds as reported by the Municipal Securities Rulemaking Board (MSRB).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. Findings are compared against similar securities auctioned at Zions Direct Auctions (www.auctions.zionsdirect.com). Since February 2007, Zions Direct has auctioned over 850 million dollars in more than 3,000 fixed-income auctions.ZIONS DIRECT / BONDDESK® MARKET SNAPSHOTMunicipal Bonds' Average Yields Trade Data (source: MSRB)

 
2011 -
2012 2012 2013 2014 2016 2018 2021
Rating AAA 0.33% 0.37% 0.59% 0.94% 1.39% 2.06% 2.48%
AA 0.39% 0.50% 0.79% 1.17% 1.63% 2.39% 2.97%
A 0.67% 1.02% 1.31% 1.80% 2.50% 3.14% 3.71%
BBB 1.29% 1.29% 1.79% 2.63% 3.32% 4.02% 4.40%
Insured
AAA-AA 0.44% 0.53% 0.74% 1.26% 1.68% 2.35% 2.76%
Municipal Bond Auction Comparison Data (auction data from auctions.zionsdirect.com)
 
Auction MSRB Difference
Issuer Term Rating Yield Avg Yield (basis points)

New York City, NY GO 1 Month AA 0.45% 0.39% 6
Energy Northwest 13 Month AA 1.38% 0.50% 88
Greater Arizona
Development Authority 2 Year A 1.43% 1.31% 12
ID Bond Bank, ID Rev 3 Month AA 1.50% 0.39% 111
Hall County, GA School
District 8 Month AA 1.20% 0.39% 81
Colorado, State of - DOC 21 Month AA 1.45% 0.79% 66
McCall-Donnelly Joint
School District No. 421, 1 Month AA 1.37% 0.39% 98
Idaho
Lewisville Independent
School District, Texas 14 Month AA 1.29% 0.50% 79
Austin, TX GO 2 Month AAA 1.00% 0.33% 67
Horry County, South
Carolina 8 Month AA 1.25% 0.39% 86
Middletown School
District, Orange County, 4.5 Year AA 2.89% 1.63% 126
New York
Harris County Municipal
Utility District 2 Month A 1.00% 0.67% 33
Vallivue School District
No. 139, Canyon County, 15 Month AA 1.27% 0.50% 77
ID
Malden, Massachusetts 4.5 Year BBB 3.50% 3.32% 18
Average Difference 68
For more information on Zions Direct and the BondDesk Market Snapshot go to www.zionsdirect.com to sign up to receive the free weekly newsletter or visit www.think.zionsdirect.com to view a Market Snapshot archive.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.About Zions Direct
Zions Direct is a broker-dealer that specializes in offering securities for self-directed and fixed income-focused investors. Zions Direct allows retail investors to buy FDIC-insured certificates of deposit and corporate and municipal bonds through its web-based Bond Store (www.bondstore.com) and auction platforms. In addition, clients can invest in stocks, mutual funds, and exchange-traded funds online or through a Zions Direct financial representative.About BondDesk Group LLC
BondDesk Group LLC is a financial technology firm, providing enterprise-wide fixed income solutions to many of the top broker-dealers in North America. The BondDesk Alternative Trading System (ATS), run by BondDesk Trading LLC, connects broker-dealers through a centralized marketplace by offering a diverse pool of liquidity for odd-lot fixed income securities in multiple asset classes. The BondDesk ATS executes over 20,000 transactions per day by providing 2,000 broker-dealers access to 35,000 live and executable offerings from over 100 premier fixed income dealers. In addition, BondDesk Group is a leading provider of innovative fixed income wealth management solutions, advisor workstations and fixed income analytical tools and applications.Market Snapshot Information Disclaimer
MSRB bond trade data displayed as weighted average yield. Municipal bond information from MSRB as of June 24, 2011. 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 June 24, 2011. 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.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.Terms are defined as follows:
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