Municipals
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Municipal Bond Market Summary:
Week Ending 3/24/23
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 3/17/23-3/24/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | AZ GLEDEV 5.00 11/15/2042 | 5.000% | 11/15/42 | 5.01% | 102.23 | 97.35 | 4 |
| 2 | TX NHPFAC 5.50 12/01/2030 | 5.500% | 12/01/30 | 4.83% | 93.32 | 89.02 | 2 |
| 3 | MD BALGEN 2.81 07/01/2040 | 2.814% | 07/01/40 | 4.57% | 79.63 | 76.15 | 9 |
| 4 | PA STTEDU 5.09 09/15/2029 | 5.088% | 09/15/29 | 3.52% | 103.64 | 100.11 | 17 |
| 5 | NY NYCDEV 3.00 11/15/2051 | 3.000% | 11/15/51 | 3.38% | 73.88 | 71.47 | 6 |
| 6 | CA BAYTRN 2.86 04/01/2035 | 2.863% | 04/01/35 | 3.36% | 84.39 | 81.65 | 6 |
| 7 | NY NYCMFH 3.65 11/01/2049 | 3.650% | 11/01/49 | 3.32% | 88.19 | 85.36 | 6 |
| 8 | IL ILSTRN 6.18 01/01/2034 | 6.184% | 01/01/34 | 3.07% | 112.40 | 109.06 | 8 |
| 9 | CO SIEUTL 4.00 12/01/2042 | 4.000% | 12/01/42 | 3.01% | 98.42 | 95.55 | 6 |
| 10 | KY MADEDU 3.00 05/01/2029 | 3.000% | 05/01/29 | 2.44% | 99.64 | 97.27 | 3 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 3/17/23-3/24/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | NJ MER 2.00 02/15/2032 | 2.000% | 02/15/32 | -4.82% | 85.94 | 90.29 | 3 |
| 2 | NY NYSTRN 4.00 01/01/2051 | 4.000% | 01/01/51 | -4.65% | 94.12 | 98.71 | 2 |
| 3 | SC SPAMED 3.55 04/15/2050 | 3.553% | 04/15/50 | -4.58% | 71.87 | 75.32 | 6 |
| 4 | TX BIRSCD 3.75 02/15/2044 | 3.750% | 02/15/44 | -4.15% | 92.07 | 96.05 | 2 |
| 5 | CA CA CHUGEN 0.151 06/01/2022 2.05 06/01/2033 | 2.048% | 06/01/33 | -2.82% | 74.31 | 76.47 | 2 |
| 6 | CA CASFIN 3.00 10/01/2049 | 3.000% | 10/01/49 | -2.40% | 72.40 | 74.18 | 3 |
| 7 | TX TX GULWTR 3 08/15/2033 5.50 08/15/2052 | 5.500% | 08/15/52 | -2.29% | 98.98 | 101.31 | 8 |
| 8 | TN WESUTL 3.00 06/01/2040 | 3.000% | 06/01/40 | -2.12% | 86.75 | 88.64 | 2 |
| 9 | KS MDRFAC 2.75 11/01/2049 | 2.750% | 11/01/49 | -2.12% | 70.25 | 71.77 | 3 |
| 10 | MI DET 2.96 04/01/2027 | 2.960% | 04/01/27 | -1.96% | 88.37 | 90.14 | 7 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 3/17/23-3/24/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | VA | -31 bps | 3.04% | 3.35% |
| 2 | MD | -24 bps | 2.96% | 3.20% |
| 3 | MO | -24 bps | 3.04% | 3.29% |
| 4 | ME | -21 bps | 3.32% | 3.53% |
| 5 | CT | -20 bps | 3.31% | 3.51% |
| 6 | NH | -19 bps | 3.17% | 3.36% |
| 7 | MI | -15 bps | 3.46% | 3.61% |
| 8 | DC | -15 bps | 3.59% | 3.74% |
| 9 | IA | -15 bps | 3.26% | 3.40% |
| 10 | KY | -14 bps | 3.50% | 3.64% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 3/17/23-3/24/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | OR | 24 bps | 3.70% | 3.46% |
| 2 | AL | 11 bps | 3.69% | 3.58% |
| 3 | WA | 6 bps | 3.51% | 3.46% |
| 4 | NM | 5 bps | 3.13% | 3.08% |
| 5 | AZ | 4 bps | 3.53% | 3.49% |
| 6 | MS | 1 bps | 3.26% | 3.25% |
| 7 | MN | 0 bps | 3.22% | 3.22% |
| 8 | IN | -1 bps | 3.34% | 3.35% |
| 9 | KS | -2 bps | 3.34% | 3.37% |
| 10 | NC | -2 bps | 3.39% | 3.41% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 3/17/23-3/24/23 (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 3/17/23-3/24/23 (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 3/17/23-3/24/23 (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 3/17/23-3/24/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 3/17/23 vs. the week ending 3/24/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MI UNVHGR 3.60 04/01/2047 | 3.599% | 04/01/47 | 23 | 84 | 61 | 265% |
| 2 | TX LKDSCD 4.00 08/15/2046 | 4.000% | 08/15/46 | 59 | 117 | 58 | 98% |
| 3 | CA MSRPWR 7.00 11/01/2034 | 7.000% | 11/01/34 | 23 | 80 | 57 | 248% |
| 4 | CA CAS 3.00 11/01/2031 | 3.000% | 11/01/31 | 8 | 64 | 56 | 700% |
| 5 | NJ NJS 5.00 06/01/2029 | 5.000% | 06/01/29 | 40 | 94 | 54 | 135% |
| 6 | CA TOBGEN 4.00 06/01/2049 | 4.000% | 06/01/49 | 21 | 72 | 51 | 243% |
| 7 | MO MOSMED 3.34 02/15/2027 | 3.335% | 02/15/27 | 43 | 90 | 47 | 109% |
| 8 | CA LOSSCD 5.76 07/01/2029 | 5.755% | 07/01/29 | 57 | 99 | 42 | 74% |
| 9 | MA MASHSG 4.05 12/01/2052 | 4.050% | 12/01/52 | 8 | 50 | 42 | 525% |
| 10 | OH OHSEDU 4.00 12/01/2044 | 4.000% | 12/01/44 | 41 | 82 | 41 | 100% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 3/17/23 – 3/24/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NJ NJSTRN 4.00 06/15/2050 | 4.000% | 06/15/50 | 43 |
| 2 | CO DENAPT 5.00 11/15/2053 | 5.000% | 11/15/53 | 39 |
| 3 | NY NYCUTL 4.13 06/15/2047 | 4.125% | 06/15/47 | 36 |
| 4 | NY NYSFAC 3.00 03/15/2049 | 3.000% | 03/15/49 | 35 |
| 5 | TX PSPSCD 4.00 02/15/2053 | 4.000% | 02/15/53 | 35 |
| 6 | NV LAS 4.00 03/01/2053 | 4.000% | 03/01/53 | 33 |
| 7 | CA SFOUTL 5.00 10/01/2044 | 5.000% | 10/01/44 | 33 |
| 8 | OH NEOUTL 4.00 11/15/2043 | 4.000% | 11/15/43 | 33 |
| 9 | NY TRITRN 4.50 05/15/2063 | 4.500% | 05/15/63 | 33 |
| 10 | TX NRTTRN 3.00 01/01/2051 | 3.000% | 01/01/51 | 32 |
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