Municipals
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Municipal Bond Market Summary:
Week Ending 2/23/24
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 2/16/24-2/23/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | LONG ISLAND PWR AUTH | 5.000% | 09/01/48 | 4.73% | 117.56 | 112.25 | 2 |
| 2 | MA HSG FIN AG-220-REF | 1.900% | 12/01/32 | 4.48% | 88.29 | 84.51 | 2 |
| 3 | LANCASTER SD | 4.000% | 04/01/40 | 4.13% | 102.56 | 98.50 | 2 |
| 4 | FULTON CO DEV AUTH | 5.000% | 07/01/35 | 3.61% | 111.56 | 107.67 | 3 |
| 5 | NEW HOPE EDU FACS-A-1 | 5.500% | 01/01/57 | 3.55% | 74.98 | 72.41 | 3 |
| 6 | CVI-SUBSER CW NT | 0.000% | 11/01/43 | 3.17% | 58.95 | 57.14 | 9 |
| 7 | ILLINOIS ST-C-REV-BAM | 5.000% | 06/15/32 | 2.78% | 113.84 | 110.76 | 2 |
| 8 | NORTH CENTRL WI TECH | 2.000% | 03/01/29 | 2.41% | 92.49 | 90.31 | 3 |
| 9 | WAUKESHA CO-A | 2.000% | 04/01/30 | 2.36% | 91.30 | 89.20 | 3 |
| 10 | CVI-HTA 98 SR CLAIM | 0.000% | 11/01/51 | 1.89% | 59.37 | 58.27 | 5 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 2/16/24-2/23/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | OK JENFAC 3.00 07/01/2045 | 3.000% | 07/01/45 | -5.41% | 81.09 | 85.73 | 2 |
| 2 | NM NMSHSG 5.75 03/01/2054 | 5.750% | 03/01/54 | -4.45% | 107.72 | 112.74 | 8 |
| 3 | ME MESGEN 8.00 12/01/2051 | 8.000% | 12/01/51 | -3.54% | 79.12 | 82.02 | 6 |
| 4 | CA GVYSCD 3.13 08/01/2041 | 3.125% | 08/01/41 | -3.08% | 87.92 | 90.72 | 4 |
| 5 | NJ LKWEDU 3.00 09/15/2034 | 3.000% | 09/15/34 | -3.08% | 93.75 | 96.73 | 2 |
| 6 | TX NRTTRN 6.72 01/01/2049 | 6.718% | 01/01/49 | -2.94% | 116.17 | 119.69 | 9 |
| 7 | FL MIA 3.75 07/01/2042 | 3.750% | 07/01/42 | -2.42% | 93.02 | 95.33 | 2 |
| 8 | TX DALMED 5.62 08/15/2044 | 5.621% | 08/15/44 | -2.32% | 103.62 | 106.09 | 4 |
| 9 | CA CASFIN 4.00 07/01/2042 | 4.000% | 07/01/42 | -2.32% | 94.82 | 97.08 | 3 |
| 10 | TX DALAPT 5.00 11/01/2039 | 5.000% | 11/01/39 | -2.16% | 114.99 | 117.53 | 3 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 2/16/24-2/23/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | HI | -24 bps | 4.04% | 4.28% |
| 2 | WA | -22 bps | 6.61% | 6.83% |
| 3 | NV | -18 bps | 3.17% | 3.35% |
| 4 | NE | -17 bps | 3.53% | 3.71% |
| 5 | DE | -12 bps | 3.02% | 3.14% |
| 6 | CA | -11 bps | 3.54% | 3.65% |
| 7 | UT | -11 bps | 2.91% | 3.02% |
| 8 | TN | -9 bps | 3.28% | 3.37% |
| 9 | LA | -7 bps | 3.25% | 3.33% |
| 10 | GA | -7 bps | 3.31% | 3.38% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 2/16/24-2/23/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | SC | 29 bps | 3.54% | 3.25% |
| 2 | MS | 28 bps | 3.90% | 3.62% |
| 3 | NC | 16 bps | 3.31% | 3.14% |
| 4 | NH | 14 bps | 3.33% | 3.19% |
| 5 | AK | 14 bps | 3.55% | 3.41% |
| 6 | OR | 12 bps | 3.99% | 3.87% |
| 7 | NJ | 12 bps | 3.79% | 3.67% |
| 8 | FL | 12 bps | 3.64% | 3.52% |
| 9 | NM | 10 bps | 3.58% | 3.48% |
| 10 | DC | 8 bps | 4.09% | 4.01% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/16/24-2/23/24 (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 2/16/24-2/23/24 (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 2/16/24-2/23/24 (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 2/16/24-2/23/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/16/24 vs. the week ending 2/23/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | NEW YORK CITY INDL | 4.000% | 03/01/45 | 15 | 65 | 50 | 333% |
| 2 | OXNARD CALIF FING AUTH WTR REV | 7.000% | 06/01/40 | 5 | 50 | 45 | 900% |
| 3 | NASHVILLE -A -REV | 4.000% | 07/01/46 | 25 | 70 | 45 | 180% |
| 4 | ATWATER SCH DT-B | 4.000% | 08/01/42 | 4 | 46 | 42 | 1050% |
| 5 | CALIFORNIA-REF | 5.000% | 08/01/30 | 10 | 51 | 41 | 410% |
| 6 | NYC TRANSITIONAL | 5.000% | 11/01/28 | 13 | 54 | 41 | 315% |
| 7 | CALIFORNIA ST-REF | 5.000% | 09/01/27 | 15 | 54 | 39 | 260% |
| 8 | SPOKANE CO SD #81 | 5.000% | 12/01/35 | 103 | 140 | 37 | 36% |
| 9 | SAN BERNARDINO CA USD | 5.000% | 10/01/33 | 9 | 46 | 37 | 411% |
| 10 | UNIVERSITY MINN | 5.018% | 08/01/35 | 15 | 52 | 37 | 247% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/16/24 – 2/23/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | OK WTR RES BRD-A | 4.125% | 10/01/53 | 43 |
| 2 | NYC TRANSIT FIN-F-1 | 5.250% | 02/01/53 | 41 |
| 3 | MONTGOMERY CO -A | 5.000% | 08/01/32 | 39 |
| 4 | WYLIE ISD | 4.250% | 02/15/54 | 38 |
| 5 | CARRIZO SPRINGS ISD | 5.000% | 08/15/49 | 35 |
| 6 | HOWARD CO HSG COMM | 4.125% | 12/01/43 | 35 |
| 7 | NYC TRANSIT FIN-F-1 | 4.250% | 02/01/54 | 35 |
| 8 | PROSPER ISD | 4.000% | 02/15/53 | 34 |
| 9 | TRIBOROUGH BRIDGE-A-1 | 5.250% | 05/15/64 | 33 |
| 10 | GARLAND ISD-A | 5.000% | 02/15/48 | 33 |
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