Baird analysis: rising municipal yields shift borrowing calculus
Presentation to the Winnebago County board showed AAA municipal-bond yields climbed from under 4% in July to roughly 4.75%, increasing projected borrowing costs and prompting the board to re-evaluate using bond proceeds versus fund balance.
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Colby summarized a Baird-prepared analysis showing recent volatility in AAA municipal-bond yields, noting that "in July '26, interest rates for AAA municipal bonds were, you know, well below 4%. In the last 3 months, they've shot up to that about 4.75, mark." The presentation explained that higher yields increase 10-year borrowing costs and change the relative attractiveness of issuing debt now versus using fund balance.
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