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Zions Direct Municipal Bond Market Snapshot for Week Ending September 28, 2012

SALT LAKE CITY, Oct. 2, 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 September 24, 2012 to September 28, 2012, investors purchasing municipal bonds in the auctions received average tax-exempt yields 0.75 percentage points, or 75 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)







Jefferson Co SD #R-1, CO GO

3 Month

AA

1.03%

0.32%

71

Keller, TX GO

5 Month

AA

0.90%

0.32%

58

Windsor Heights, IA GO

8 Month

AA

1.15%

0.32%

83

Glendale Un Sch Dist #205, AZ GO

9 Month

Insured AA

0.93%

0.41%

52

Jersey City, NJ GO

22 Month

Insured AA

1.60%

0.54%

106

Logan-Hocking Sch Dist, OH GO

2 Month

AA

0.98%

0.32%

66

Gwinnett Cnty Sch Dist, GA GO

4 Month

AAA

0.90%

0.39%

51

Galveston, TX GO

7 Month

A

1.20%

0.51%

69

Pima Cnty, AZ Rev

21 Month

AA

1.42%

0.50%

92

Coweta Cnty Wtr & Swr, GA Rev

2.5 Year

Insured AA

1.64%

0.74%

90

Miamisburg, OH GO

2 Month

Insured AA

0.89%

0.43%

46

Richland Cnty Sch Dist #1, SC GO

5 Month

AA

0.90%

0.32%

58

Kentucky Turnpike Auth, KY Rev

9 Month

AA

0.90%

0.36%

54

Hancock Cnty, OH GO

14 Month

AA

1.49%

0.36%

113

Port St Lucie, FL Rev

23 Month

Insured A

1.67%

0.54%

113

Rangeview Library, CO Cop

2 Month

Insured AA

0.85%

0.43%

42

Collin County, TX GO

4 Month

AAA

0.86%

0.39%

47

New Mexico Fin Auth, NM Rev

8 Month

AA

0.90%

0.32%

58

Los Angeles Dpt Wtr & Pwr, CA Rev

9 Month

Insured AA

1.34%

0.41%

93

Beaufort Cnty Sch Dist, SC GO

2.5 Year

AA

1.90%

0.50%

140

State of Washington, GO

4 Month

AA

0.90%

0.32%

58

Texas Trans Comm, TX Rev

6 Month

AAA

0.90%

0.39%

51

State of New Mexico, Rev

9 Month

AA

1.17%

0.36%

81

State Rd & Tollway Auth, GA Rev

1 Year

Insured AA

1.00%

0.41%

59

Clay Cnty, FL Rev

2 Year

Insured AA

1.78%

0.54%

124

Average Difference





75

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

0.29%

0.29%

0.36%

0.49%

0.79%

1.24%

1.72%

AA

0.33%

0.37%

0.49%

0.65%

0.95%

1.53%

2.01%

A

0.42%

0.50%

0.61%

0.81%

1.29%

1.95%

2.43%

BBB

1.03%

0.92%

1.04%

2.21%

2.92%

2.74%

3.69%

Insured AAA-AA

0.38%

0.38%

0.56%

0.74%

1.11%

1.42%

1.75%

*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 September 28, 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 September 28, 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