Municipal Bond Market Summary – Week Ending 11/17/23
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Municipal Bond Market Summary: Week Ending 11/17/23
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 11/10/23-11/17/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | UT TELECOM OPEN INFR | 4.375% | 06/01/40 | 8.45% | 98.95 | 91.23 | 4 |
| 2 | HIDALGO CNTY TX-A | 4.000% | 08/15/43 | 8.30% | 92.69 | 85.59 | 8 |
| 3 | PORT AUTH OF NEW YORK | 4.000% | 07/15/38 | 8.30% | 98.88 | 91.31 | 6 |
| 4 | PINE BLUFF SD #3 -A | 4.250% | 02/01/44 | 8.17% | 96.19 | 88.92 | 4 |
| 5 | CALIFORNIA ST | 4.000% | 10/01/44 | 8.06% | 97.68 | 90.39 | 4 |
| 6 | LAS VEGAS VLY WTR DT- | 4.000% | 06/01/51 | 7.80% | 90.04 | 83.53 | 7 |
| 7 | HUDSON YARDS INFRA-A | 4.000% | 02/15/44 | 7.76% | 95.08 | 88.23 | 5 |
| 8 | FULTON CNTY GA DEV AU | 4.000% | 07/01/36 | 7.74% | 97.68 | 90.67 | 4 |
| 9 | INDEP CITIES FIN AUTH | 3.000% | 05/15/56 | 7.34% | 67.24 | 62.64 | 5 |
| 10 | JACKSON CO-A-REV | 4.375% | 12/01/58 | 7.19% | 93.02 | 86.78 | 3 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 11/10/23-11/17/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | NY NYSHGR 1.95 03/15/2029 | 1.952% | 03/15/29 | -6.71% | 78.65 | 84.31 | 6 |
| 2 | TX CLCUTL 3.00 03/01/2032 | 3.000% | 03/01/32 | -5.85% | 86.61 | 91.99 | 3 |
| 3 | WA UWAHGR 3.13 07/01/2042 | 3.125% | 07/01/42 | -4.17% | 77.32 | 80.69 | 5 |
| 4 | CA SOLWTR 4.00 08/01/2051 | 4.000% | 08/01/51 | -3.94% | 89.13 | 92.78 | 2 |
| 5 | TX NHPFAC 7.00 01/01/2057 | 7.000% | 01/01/57 | -3.59% | 60.07 | 62.31 | 4 |
| 6 | TX HARUTL 3.63 09/01/2031 | 3.625% | 09/01/31 | -3.40% | 93.25 | 96.53 | 2 |
| 7 | HI HISGEN 3.25 01/01/2025 | 3.250% | 01/01/25 | -2.88% | 68.01 | 70.03 | 3 |
| 8 | TX HBRUTL 4.00 09/01/2044 | 4.000% | 09/01/44 | -2.80% | 75.94 | 78.13 | 2 |
| 9 | MA ROW 2.00 05/01/2038 | 2.000% | 05/01/38 | -2.75% | 71.04 | 73.05 | 2 |
| 10 | PA AVWSCD 4.00 03/15/2032 | 4.000% | 03/15/32 | -2.73% | 97.27 | 100.00 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 11/10/23-11/17/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | AZ | -36 bps | 3.66% | 4.02% |
| 2 | TN | -36 bps | 4.06% | 4.42% |
| 3 | NC | -29 bps | 3.96% | 4.25% |
| 4 | ME | -28 bps | 3.67% | 3.95% |
| 5 | KS | -27 bps | 3.90% | 4.17% |
| 6 | NJ | -26 bps | 4.27% | 4.53% |
| 7 | UT | -26 bps | 3.88% | 4.14% |
| 8 | AL | -25 bps | 3.98% | 4.23% |
| 9 | IA | -24 bps | 4.31% | 4.55% |
| 10 | IL | -23 bps | 4.36% | 4.59% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 11/10/23-11/17/23
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MS | 16 bps | 4.34% | 4.18% |
| 2 | NE | 11 bps | 4.25% | 4.15% |
| 3 | AK | 8 bps | 4.15% | 4.08% |
| 4 | FL | 5 bps | 4.25% | 4.20% |
| 5 | OR | 4 bps | 4.25% | 4.21% |
| 6 | DC | 4 bps | 4.12% | 4.09% |
| 7 | NH | 2 bps | 3.90% | 3.87% |
| 8 | HI | 0 bps | 4.42% | 4.42% |
| 9 | NM | -1 bps | 3.53% | 3.54% |
| 10 | SC | -2 bps | 4.15% | 4.17% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 11/10/23-11/17/23 (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 11/10/23-11/17/23 (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 11/10/23-11/17/23 (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 11/10/23-11/17/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 11/10/23 vs. the week ending 11/17/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MET TRANS AUTH-A-1 | 4.000% | 11/15/44 | 6 | 72 | 66 | 1100% |
| 2 | TRIBOROUGH BRIDGE-A | 4.000% | 05/15/41 | 34 | 95 | 61 | 179% |
| 3 | ALAMO REGL MOBILITY | 4.000% | 06/15/47 | 8 | 68 | 60 | 750% |
| 4 | WHITE SETTLEMENT ISD | 4.000% | 08/15/52 | 10 | 70 | 60 | 600% |
| 5 | MECKLENBURG CO | 5.000% | 09/01/26 | 25 | 85 | 60 | 240% |
| 6 | S SAN FRANCISCO USD | 4.000% | 09/01/48 | 43 | 100 | 57 | 133% |
| 7 | MINNESOTA ST -A | 5.000% | 08/01/40 | 38 | 95 | 57 | 150% |
| 8 | UNIV OF ARKANSAS AR-A | 5.000% | 12/01/45 | 26 | 83 | 57 | 219% |
| 9 | EMPIRE ST DEV-A | 5.000% | 03/15/53 | 46 | 100 | 54 | 117% |
| 10 | NEW YORK CITY NY TRAN | 5.000% | 08/01/41 | 17 | 70 | 53 | 312% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 11/10/23 – 11/17/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MASSACHUSETTS CMNWLTH | 5.000% | 06/01/50 | 42 |
| 2 | NYC MUNI WTR FIN-CC-1 | 5.000% | 06/15/52 | 39 |
| 3 | NEW YORK ST DORM AUTH | 5.000% | 07/01/39 | 37 |
| 4 | SALT RIVER | 5.000% | 01/01/47 | 35 |
| 5 | CALIFORNIA ST | 5.000% | 10/01/42 | 34 |
| 6 | UNIV CONNECTICUT-A | 5.500% | 11/15/53 | 33 |
| 7 | TRIBOROUGH BRIDGE-B-1 | 5.000% | 05/15/56 | 33 |
| 8 | SAN DIEGO ARPT-SER B | 5.000% | 07/01/48 | 32 |
| 9 | NEW YORK CITY NY MUNI | 5.000% | 06/15/47 | 32 |
| 10 | BUCKEYE OH TOBACCO-B2 | 5.000% | 06/01/55 | 32 |
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