Municipals
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Municipal Bond Market Summary:
Week Ending 2/24/23
Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.
Top 10 Performers
Showcases the top 10 Muni Bond performers based on price movements between 2/17/23-2/24/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | MD BALGEN 2.81 07/01/2040 | 2.814% | 07/01/40 | 3.58% | 77.02 | 74.36 | 6 |
| 2 | TX UNIHGR 3.85 08/15/2046 | 3.852% | 08/15/46 | 2.33% | 89.27 | 87.24 | 7 |
| 3 | WY WYSHSG 3.20 12/01/2041 | 3.200% | 12/01/41 | 2.19% | 90.13 | 88.20 | 3 |
| 4 | CA UNVHGR 4.77 05/15/2044 | 4.765% | 05/15/44 | 1.62% | 99.36 | 97.77 | 5 |
| 5 | CA SBDDEV 4.00 12/01/2027 | 4.000% | 12/01/27 | 1.16% | 96.82 | 95.71 | 6 |
| 6 | TX HOU 3.96 03/01/2047 | 3.961% | 03/01/47 | 0.99% | 89.95 | 89.08 | 7 |
| 7 | OR MARSCD 3.82 06/30/2034 | 3.818% | 06/30/34 | 0.80% | 94.12 | 93.37 | 4 |
| 8 | OR WES 4.00 06/01/2041 | 4.000% | 06/01/41 | 0.61% | 101.80 | 101.19 | 2 |
| 9 | CA IMRHGR 2.97 08/01/2034 | 2.969% | 08/01/34 | 0.44% | 85.53 | 85.15 | 4 |
| 10 | WA KINUTL 2.84 07/01/2047 | 2.841% | 07/01/47 | 0.42% | 71.72 | 71.42 | 8 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 2/17/23-2/24/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | OK OKSPWR 3.13 01/01/2041 | 3.125% | 01/01/41 | -7.47% | 82.23 | 88.87 | 2 |
| 2 | ND HOR 4.00 05/01/2042 | 4.000% | 05/01/42 | -7.34% | 91.45 | 98.69 | 2 |
| 3 | MI MISHGR 4.17 08/15/2122 | 4.165% | 08/15/22 | -5.69% | 77.89 | 82.60 | 9 |
| 4 | CA CLXSCD 3.00 08/01/2052 | 3.000% | 08/01/52 | -5.16% | 73.17 | 77.15 | 2 |
| 5 | TN NMAFAC 0.00 04/01/2045 | 0.000% | 04/01/45 | -5.15% | 33.58 | 35.41 | 6 |
| 6 | MO MOSENV 2.90 09/01/2033 | 2.900% | 09/01/33 | -5.12% | 91.37 | 96.29 | 3 |
| 7 | FL PBY 3.00 07/01/2037 | 3.000% | 07/01/37 | -4.23% | 88.66 | 92.57 | 2 |
| 8 | IL UNVHGR 3.00 04/01/2036 | 3.000% | 04/01/36 | -4.14% | 88.94 | 92.78 | 2 |
| 9 | TX MONUTL 2.75 10/01/2029 | 2.750% | 10/01/29 | -4.08% | 93.93 | 97.92 | 2 |
| 10 | KS MDRFAC 2.75 11/01/2049 | 2.750% | 11/01/49 | -4.06% | 73.10 | 76.19 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 2/17/23-2/24/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | VA | -3 bps | 3.49% | 3.52% |
| 2 | OH | -2 bps | 3.66% | 3.68% |
| 3 | WA | -2 bps | 3.57% | 3.60% |
| 4 | CT | 0 bps | 3.68% | 3.68% |
| 5 | ME | 2 bps | 3.64% | 3.62% |
| 6 | LA | 3 bps | 3.55% | 3.52% |
| 7 | DC | 3 bps | 3.77% | 3.74% |
| 8 | MA | 3 bps | 3.44% | 3.41% |
| 9 | CA | 3 bps | 3.54% | 3.51% |
| 10 | UT | 4 bps | 3.29% | 3.25% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 2/17/23-2/24/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | MD | 34 bps | 3.18% | 2.84% |
| 2 | GA | 23 bps | 3.76% | 3.53% |
| 3 | SC | 20 bps | 3.43% | 3.23% |
| 4 | IL | 20 bps | 3.95% | 3.76% |
| 5 | AZ | 19 bps | 3.44% | 3.25% |
| 6 | NE | 17 bps | 3.53% | 3.36% |
| 7 | WV | 17 bps | 3.47% | 3.31% |
| 8 | WI | 16 bps | 3.55% | 3.39% |
| 9 | CO | 16 bps | 3.49% | 3.34% |
| 10 | HI | 14 bps | 3.95% | 3.81% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/17/23-2/24/23 (General Obligation and Revenue Bonds)
Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – GO Only
Displays the average Muni 10 year yield by state between 2/17/23-2/24/23 (General Obligation Bonds only)
Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
10 Year Yield by State – Rev Only
Displays the average Muni 10 year yield by state between 2/17/23-2/24/23 (Revenue Bonds only)
Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories
Sentiment
Reveals the percent of Muni bonds increasing in price (advancers) vs. decreasing in price (decliners) between 2/17/23-2/24/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/17/23 vs. the week ending 2/24/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | PA ALL 1.79 11/01/2030 | 1.79% | 11/01/30 | 33 | 100 | 67 | 203% |
| 2 | MD AAR 5.00 10/01/2035 | 5.00% | 10/01/35 | 5 | 56 | 51 | 1020% |
| 3 | NY NASGEN 5.00 11/15/2035 | 5.00% | 11/15/35 | 12 | 60 | 48 | 400% |
| 4 | NY NYCGEN 4.00 08/01/2042 | 4.00% | 08/01/42 | 97 | 144 | 47 | 48% |
| 5 | WA WAS 5.00 02/01/2040 | 5.00% | 02/01/40 | 78 | 119 | 41 | 53% |
| 6 | WA UWAHGR 2.62 04/01/2042 | 2.62% | 04/01/42 | 40 | 79 | 39 | 98% |
| 7 | PA DELWTR 5.00 05/01/2032 | 5.00% | 05/01/32 | 11 | 50 | 39 | 355% |
| 8 | NJ SJPTRN 5.00 01/01/2035 | 5.00% | 01/01/35 | 5 | 43 | 38 | 760% |
| 9 | NJ NJSDEV 5.00 10/01/2047 | 5.00% | 10/01/47 | 20 | 57 | 37 | 185% |
| 10 | PA PHIDEV 5.00 05/01/2034 | 5.00% | 05/01/34 | 15 | 51 | 36 | 240% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/17/23 – 2/24/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NY NYCUTL 4.00 06/15/2051 | 4.00% | 06/15/51 | 37 |
| 2 | TX DALSCD 5.00 02/15/2048 | 5.00% | 02/15/48 | 33 |
| 3 | FL MDCTRN 5.00 10/01/2047 | 5.00% | 10/01/47 | 33 |
| 4 | PA PASSFH 4.70 10/01/2046 | 4.70% | 10/01/46 | 32 |
| 5 | TX TXSWTR 4.00 10/15/2051 | 4.00% | 10/15/51 | 32 |
| 6 | NY NYSTRN 5.00 03/15/2053 | 5.00% | 03/15/53 | 31 |
| 7 | NY NYCGEN 4.00 08/01/2042 | 4.00% | 08/01/42 | 30 |
| 8 | FL MIATRN 5.00 07/01/2052 | 5.00% | 07/01/52 | 30 |
| 9 | VA HRDTRN 5.00 07/01/2042 | 5.00% | 07/01/42 | 30 |
| 10 | TX SDRSCD 4.25 02/15/2053 | 4.25% | 02/15/53 | 30 |
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