Municipals

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Municipal Bond Market Summary:
Week Ending 9/22/23

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 9/15/23-9/22/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 CT CARAPT 5.00 07/01/2049 5.000% 07/01/49 2.64% 99.56 97.00 6
2 HI HISGEN 3.20 07/01/2039 3.200% 07/01/39 2.56% 66.69 65.03 7
3 CA SDGAPT 4.00 07/01/2056 4.000% 07/01/56 2.51% 93.09 90.81 6
4 NY NYSHSG 3.30 10/01/2047 3.300% 10/01/47 2.07% 82.88 81.21 2
5 VA NEWWTR 2.00 07/15/2033 2.000% 07/15/33 1.59% 82.73 81.44 9
6 CA ROCGEN 4.00 09/01/2043 4.000% 09/01/43 1.52% 98.87 97.38 5
7 CA WINSCD 2.38 08/01/2036 2.375% 08/01/36 1.51% 80.19 79.00 3
8 NY PUT 2.00 06/15/2030 2.000% 06/15/30 1.50% 89.04 87.73 2
9 HI HISGEN 3.25 01/01/2025 3.250% 01/01/25 1.49% 66.92 65.94 7
10 CA WCCSCD 4.00 08/01/2054 4.000% 08/01/54 1.45% 95.44 94.08 2

Bottom 10 Performers

Showcases the bottom 10 Muni Bond performers based on price movements between 9/15/23-9/22/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 MD MDSMED 4.00 01/01/2051 4.000% 01/01/51 -5.72% 80.10 84.97 2
2 KY RACEDU 4.00 08/01/2040 4.000% 08/01/40 -5.34% 91.82 97.00 2
3 MO STL 3.25 02/15/2035 3.250% 02/15/35 -5.29% 89.76 94.78 3
4 IL OKLWTR  4.00 12/01/2047 4.000% 12/01/47 -5.02% 90.97 95.77 2
5 CA IRGFAC 4.00 09/01/2058 4.000% 09/01/58 -4.56% 95.23 99.78 5
6 WA SNO 3.00 12/01/2033 3.000% 12/01/33 -4.49% 91.70 96.01 2
7 AR SLOSCD 3.25 02/01/2036 3.250% 02/01/36 -4.40% 92.74 97.02 2
8 OH MRO 3.00 12/01/2030 3.000% 12/01/30 -4.36% 93.81 98.09 2
9 NY ALB 2.00 06/15/2034 2.000% 06/15/34 -4.21% 79.14 82.62 2
10 TX GREPWR 2.50 02/15/2051 2.500% 02/15/51 -4.18% 60.29 62.92 2

Top 10 State Performers

Showcases the top 10 Muni State performers based on yield movements between 9/15/23-9/22/23

RANK STATE CHANGE YLD YLD-1W
1 GA -1 bps 3.68% 3.68%
2 OH 1 bps 4.15% 4.14%
3 CO 1 bps 4.15% 4.14%
4 MT 2 bps 3.81% 3.79%
5 CA 3 bps 3.93% 3.91%
6 CT 3 bps 3.96% 3.93%
7 OR 4 bps 4.03% 3.99%
8 IL 4 bps 4.36% 4.32%
9 TN 6 bps 3.94% 3.88%
10 AZ 7 bps 3.83% 3.76%

Bottom 10 State Performers

Showcases the bottom 10 Muni State performers based on yield movements between 9/15/23-9/22/23

RANK STATE CHANGE YLD YLD-1W
1 IA 32 bps 4.24% 3.91%
2 NJ 32 bps 4.15% 3.83%
3 NE 30 bps 3.96% 3.65%
4 VA 30 bps 4.00% 3.70%
5 WV 30 bps 4.05% 3.75%
6 DE 29 bps 3.34% 3.05%
7 NH 27 bps 3.55% 3.28%
8 NM 26 bps 3.88% 3.62%
9 HI 25 bps 4.43% 4.18%
10 KY 24 bps 4.05% 3.81%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 9/15/23-9/22/23 (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 9/15/23-9/22/23 (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 9/15/23-9/22/23 (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 9/15/23-9/22/23

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 9/15/23 vs. the week ending 9/22/23

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 VA HRDTRN 5.00 07/01/2042 5.000% 07/01/42 10 104 94 940%
2 NY NYSHGR 5.00 03/15/2042 5.000% 03/15/42 10 94 84 840%
3 TX ARLEDU 4.50 08/15/2053 4.500% 08/15/53 11 82 71 645%
4 NY HUYGEN 5.00 02/15/2042 5.000% 02/15/42 24 90 66 275%
5 TX DVLSCD 4.00 06/15/2047 4.000% 06/15/47 13 79 66 508%
6 NY NYC 4.00 08/01/2034 4.000% 08/01/34 1 59 58 5800%
7 CA ALATRN 0.00 10/01/2035 0.000% 10/01/35 7 64 57 814%
8 NY NYSHGR 5.00 03/15/2033 5.000% 03/15/33 18 67 49 272%
9 CA CASWTR 5.00 12/01/2029 5.000% 12/01/29 8 57 49 613%
10 TX DAL 5.00 02/15/2029 5.000% 02/15/29 29 75 46 159%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 9/15/23 – 9/22/23

RANK TRANCHE COUPON MATURITY DEALERS
1 NY NYC 4.13 08/01/2053 4.125% 08/01/53 40
2 WI MLW 6.84 12/01/2028 6.840% 12/01/28 36
3 TX TRAMED 5.03 03/01/2033 5.030% 03/01/33 35
4 MA MAS 5.00 05/01/2053 5.000% 05/01/53 33
5 VA NORMED 4.00 11/01/2048 4.000% 11/01/48 31
6 TX TRAMED 4.98 03/01/2031 4.980% 03/01/31 30
7 FL MIATRN 2.53 10/01/2030 2.529% 10/01/30 30
8 TX CROSCD 4.25 02/01/2053 4.250% 02/01/53 29
9 AZ SALAGR 5.00 01/01/2047 5.000% 01/01/47 28
10 TX TRAMED 5.13 03/01/2034 5.130% 03/01/34 28

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