Municipals
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Municipal Bond Market Summary:
Week Ending 1/5/24
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 12/29/23-1/5/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | PA ECON DEV FING AUTH | 3.594% | 12/01/41 | 5.21% | 80.19 | 76.22 | 5 |
| 2 | UNIV OF VIRGINIA-A-2 | 3.570% | 04/01/45 | 4.87% | 98.08 | 93.52 | 3 |
| 3 | SAN ANTONIO EDU FACS | 4.000% | 04/01/51 | 4.82% | 87.98 | 83.93 | 8 |
| 4 | BERGEN CO IMP AUTH | 4.000% | 08/01/48 | 4.80% | 102.38 | 97.69 | 2 |
| 5 | ROCK HILL UTL-SC UTIL | 3.125% | 01/01/44 | 4.48% | 83.88 | 80.28 | 2 |
| 6 | UNIV AL-B-REF | 3.125% | 07/01/38 | 4.31% | 91.52 | 87.74 | 3 |
| 7 | MASSACHUSETTS ST WTR | 5.000% | 08/01/34 | 4.23% | 116.12 | 111.41 | 3 |
| 8 | FL TURNPIKE AUTH-A | 3.250% | 07/01/31 | 4.22% | 99.96 | 95.91 | 4 |
| 9 | SUFFOLK CNTY NY WTR A | 3.000% | 06/01/34 | 4.12% | 97.85 | 93.98 | 3 |
| 10 | DASNY-E-REF | 4.000% | 03/15/38 | 4.11% | 105.78 | 101.60 | 3 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 12/29/23-1/5/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | TX TXSWTR 4.34 10/15/2048 | 4.340% | 10/15/48 | -3.99% | 89.69 | 93.42 | 5 |
| 2 | NY NYCDEV 2.63 09/15/2069 | 2.625% | 09/15/69 | -3.95% | 90.31 | 94.02 | 3 |
| 3 | MD MDSMED 3.65 10/01/2039 | 3.650% | 10/01/39 | -3.87% | 80.11 | 83.34 | 2 |
| 4 | PA PASHGR 3.13 11/01/2029 | 3.125% | 11/01/29 | -3.84% | 90.62 | 94.24 | 2 |
| 5 | CA HUNGEN 3.38 06/15/2044 | 3.376% | 06/15/44 | -3.71% | 73.75 | 76.59 | 4 |
| 6 | KY UKYHGR 3.00 10/01/2035 | 3.000% | 10/01/35 | -3.48% | 94.35 | 97.75 | 7 |
| 7 | PR PRCGEN 0.00 07/01/2046 | 0.000% | 07/01/46 | -3.47% | 30.49 | 31.58 | 8 |
| 8 | NY NYSHGR 3.43 07/01/2051 | 3.430% | 07/01/51 | -3.39% | 68.31 | 70.71 | 5 |
| 9 | MA QUI 2.13 07/01/2044 | 2.125% | 07/01/44 | -3.34% | 69.76 | 72.16 | 2 |
| 10 | OH MONMED 4.00 08/01/2041 | 4.000% | 08/01/41 | -3.29% | 98.16 | 101.49 | 6 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 12/29/23-1/5/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | MS | -18 bps | 3.28% | 3.46% |
| 2 | AR | -16 bps | 3.58% | 3.74% |
| 3 | KY | -13 bps | 3.24% | 3.37% |
| 4 | DE | -6 bps | 2.49% | 2.55% |
| 5 | OK | -6 bps | 12.87% | 12.93% |
| 6 | PA | -5 bps | 3.64% | 3.70% |
| 7 | MA | -3 bps | 3.44% | 3.47% |
| 8 | OH | -2 bps | 3.40% | 3.42% |
| 9 | MN | -1 bps | 3.44% | 3.45% |
| 10 | NH | 0 bps | 3.26% | 3.26% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 12/29/23-1/5/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | CO | 36 bps | 4.00% | 3.64% |
| 2 | WV | 26 bps | 3.24% | 2.98% |
| 3 | AZ | 24 bps | 3.44% | 3.20% |
| 4 | NM | 23 bps | 3.25% | 3.03% |
| 5 | HI | 20 bps | 3.84% | 3.63% |
| 6 | VA | 16 bps | 3.36% | 3.20% |
| 7 | DC | 13 bps | 3.91% | 3.78% |
| 8 | RI | 12 bps | 3.10% | 2.98% |
| 9 | MD | 12 bps | 3.52% | 3.40% |
| 10 | MI | 11 bps | 3.74% | 3.63% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 12/29/23-1/5/24 (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 12/29/23-1/5/24 (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 12/29/23-1/5/24 (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 12/29/23-1/5/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 12/29/23 vs. the week ending 1/5/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | KING CNTY WA | 5.000% | 12/01/27 | 23 | 76 | 53 | 230% |
| 2 | NORTH SLOPE-B-REF | 5.000% | 06/30/24 | 17 | 67 | 50 | 294% |
| 3 | FORSYTH CO -B | 1.750% | 03/01/36 | 11 | 61 | 50 | 455% |
| 4 | MARICOPA CNTY AZ SPL | 5.000% | 07/01/25 | 13 | 62 | 49 | 377% |
| 5 | INDIANAPOLIS LOC IMPT | 5.000% | 06/01/26 | 12 | 59 | 47 | 392% |
| 6 | WINNEBAGO & BOONE | 5.000% | 02/01/27 | 8 | 55 | 47 | 588% |
| 7 | NEW JERSEY ST TRANSPR | 5.000% | 12/15/26 | 20 | 67 | 47 | 235% |
| 8 | PROSPER ISD | 4.000% | 02/15/48 | 13 | 57 | 44 | 338% |
| 9 | YAVAPAI JAIL DT-REV | 5.000% | 07/01/24 | 8 | 52 | 44 | 550% |
| 10 | HUDSON CO | 3.000% | 11/15/25 | 8 | 52 | 44 | 550% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 12/29/23 – 1/5/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MASSACHUSETTS CMNWL-D | 5.000% | 10/01/53 | 49 |
| 2 | ILLINOIS ST FOR ISSU | 5.100% | 06/01/33 | 38 |
| 3 | TRIBOROUGH BRIDGE & T | 4.000% | 11/15/54 | 38 |
| 4 | ISLE OF WHITE CNTY VA | 5.250% | 07/01/53 | 36 |
| 5 | OREGON ST-A | 5.000% | 05/01/48 | 36 |
| 6 | NYC MUNI WTR FIN-CC-1 | 5.000% | 06/15/52 | 36 |
| 7 | NJ EDA ST PENSION FD | 7.425% | 02/15/29 | 33 |
| 8 | GARLAND ISD-A | 5.000% | 02/15/48 | 33 |
| 9 | PASSAIC VLY WTR -REV | 4.000% | 12/01/48 | 33 |
| 10 | DETROIT | 5.500% | 04/01/50 | 33 |
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