Municipals
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Municipal Bond Market Summary:
Week Ending 9/1/23
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 8/25/23-9/1/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | DC DISUTL 3.21 10/01/2048 | 3.207% | 10/01/48 | 6.87% | 75.17 | 70.34 | 6 |
| 2 | TX DALAPT 3.34 11/01/2045 | 3.344% | 11/01/45 | 6.28% | 76.32 | 71.81 | 5 |
| 3 | NJ RUTHGR 3.27 05/01/2043 | 3.270% | 05/01/43 | 5.50% | 79.19 | 75.06 | 6 |
| 4 | WA LKWWTR 3.13 12/01/2048 | 3.125% | 12/01/48 | 5.43% | 78.10 | 74.08 | 4 |
| 5 | WI PUBMEC 3.00 01/01/2050 | 3.000% | 01/01/50 | 4.95% | 69.76 | 66.47 | 2 |
| 6 | MA MINHGR 2.00 04/15/2034 | 2.000% | 04/15/34 | 4.85% | 87.16 | 83.13 | 2 |
| 7 | CA GLDGEN 4.21 06/01/2050 | 4.214% | 06/01/50 | 4.48% | 72.83 | 69.71 | 7 |
| 8 | TX CYSSCD 4.00 02/15/2043 | 4.000% | 02/15/43 | 4.41% | 99.74 | 95.52 | 5 |
| 9 | PA PSUHGR 2.79 09/01/2043 | 2.790% | 09/01/43 | 4.32% | 74.08 | 71.01 | 8 |
| 10 | CA UNVHGR 3.24 05/15/2051 | 3.239% | 05/15/51 | 4.15% | 72.98 | 70.07 | 5 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 8/25/23-9/1/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | VA HRDTRN 4.00 07/01/2055 | 4.000% | 07/01/55 | -5.03% | 93.07 | 98.00 | 2 |
| 2 | MA MASHSG 4.05 12/01/2052 | 4.050% | 12/01/52 | -4.08% | 92.72 | 96.66 | 2 |
| 3 | TX LAMSCD 4.00 02/15/2050 | 4.000% | 02/15/50 | -3.58% | 92.02 | 95.44 | 2 |
| 4 | NC NCSMED 4.00 06/01/2045 | 4.000% | 06/01/45 | -3.47% | 90.38 | 93.63 | 3 |
| 5 | NY NYSHGR 5.00 07/01/2043 | 5.000% | 07/01/43 | -3.43% | 100.55 | 104.12 | 3 |
| 6 | MN DEESCD 3.00 02/01/2031 | 3.000% | 02/01/31 | -3.26% | 94.71 | 97.90 | 2 |
| 7 | ME MESMED 4.00 07/01/2041 | 4.000% | 07/01/41 | -3.01% | 95.05 | 98.00 | 2 |
| 8 | IL ILSGEN 3.00 05/15/2050 | 3.000% | 05/15/50 | -3.01% | 67.33 | 69.42 | 2 |
| 9 | NY NYCGEN 5.00 02/01/2032 | 5.000% | 02/01/32 | -2.91% | 113.72 | 117.13 | 5 |
| 10 | CA LOSAPT 4.00 05/15/2048 | 4.000% | 05/15/48 | -2.88% | 97.11 | 99.99 | 5 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 8/25/23-9/1/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | DE | -38 bps | 3.17% | 3.55% |
| 2 | AK | -34 bps | 3.26% | 3.60% |
| 3 | NC | -34 bps | 3.39% | 3.73% |
| 4 | CO | -33 bps | 3.93% | 4.26% |
| 5 | NJ | -30 bps | 3.63% | 3.93% |
| 6 | KY | -28 bps | 3.38% | 3.66% |
| 7 | MO | -26 bps | 3.60% | 3.86% |
| 8 | WV | -22 bps | 3.51% | 3.73% |
| 9 | MD | -20 bps | 3.62% | 3.81% |
| 10 | CT | -17 bps | 3.64% | 3.81% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 8/25/23-9/1/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | FL | 25 bps | 4.29% | 4.04% |
| 2 | UT | 16 bps | 3.97% | 3.81% |
| 3 | HI | 9 bps | 4.16% | 4.06% |
| 4 | IN | 9 bps | 3.84% | 3.75% |
| 5 | MT | 1 bps | 3.64% | 3.63% |
| 6 | NV | 1 bps | 3.74% | 3.73% |
| 7 | TX | 0 bps | 3.93% | 3.93% |
| 8 | WI | -2 bps | 4.00% | 4.02% |
| 9 | GA | -2 bps | 3.34% | 3.37% |
| 10 | NY | -3 bps | 3.68% | 3.71% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/25/23-9/1/23 (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 8/25/23-9/1/23 (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 8/25/23-9/1/23 (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 8/25/23-9/1/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/25/23 vs. the week ending 9/1/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CA CASMED 4.00 10/01/2036 | 4.000% | 10/01/36 | 3 | 62 | 59 | 1967% |
| 2 | MA MASWTR 5.25 08/01/2038 | 5.250% | 08/01/38 | 8 | 65 | 57 | 713% |
| 3 | OR MUL 5.00 06/15/2028 | 5.000% | 06/15/28 | 39 | 95 | 56 | 144% |
| 4 | NY NYCGEN 4.00 05/01/2045 | 4.000% | 05/01/45 | 30 | 83 | 53 | 177% |
| 5 | NJ NJSTRN 4.00 01/01/2043 | 4.000% | 01/01/43 | 5 | 53 | 48 | 960% |
| 6 | NY NYC 5.25 04/01/2044 | 5.250% | 04/01/44 | 35 | 83 | 48 | 137% |
| 7 | DC METAPT 5.00 10/01/2043 | 5.000% | 10/01/43 | 21 | 65 | 44 | 210% |
| 8 | FL FLSEDU 5.00 06/01/2027 | 5.000% | 06/01/27 | 15 | 57 | 42 | 280% |
| 9 | NY NYTTRN 5.00 12/01/2026 | 5.000% | 12/01/26 | 10 | 50 | 40 | 400% |
| 10 | OK OKSTRN 4.00 01/01/2047 | 4.000% | 01/01/47 | 30 | 69 | 39 | 130% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/25/23 – 9/1/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | TX TRAMED 5.03 03/01/2033 | 5.030% | 03/01/33 | 37 |
| 2 | NY MTATRN 4.75 11/15/2045 | 4.750% | 11/15/45 | 34 |
| 3 | NJ MSXGEN 5.31 08/15/2047 | 5.310% | 08/15/47 | 34 |
| 4 | TX TRAMED 4.98 03/01/2031 | 4.980% | 03/01/31 | 34 |
| 5 | PA PHIDEV 5.59 09/01/2041 | 5.590% | 09/01/41 | 34 |
| 6 | VA NORMED 4.00 11/01/2048 | 4.000% | 11/01/48 | 33 |
| 7 | NY NYCHSG 5.44 02/01/2039 | 5.440% | 02/01/39 | 33 |
| 8 | NY NYSHSG 5.46 10/01/2043 | 5.460% | 10/01/43 | 32 |
| 9 | MN RSMTRN 5.33 07/01/2053 | 5.330% | 07/01/53 | 32 |
| 10 | NE NESSFH 5.86 09/01/2048 | 5.860% | 09/01/48 | 32 |
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