Municipals
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Municipal Bond Market Summary:
Week Ending 3/1/24
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 2/23/24-3/1/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CHARLOTTE-MECKLENBURG | 3.204% | 01/15/51 | 3.82% | 72.99 | 70.30 | 11 |
| 2 | SAN FRANCISCO CALIF C | 3.345% | 05/01/51 | 3.78% | 74.59 | 71.88 | 6 |
| 3 | PORT BEAUMONT TX INDL | 4.100% | 01/01/28 | 3.51% | 85.03 | 82.15 | 2 |
| 4 | CALIFORNIA ST UNIV-B | 2.939% | 11/01/52 | 3.36% | 70.58 | 68.29 | 5 |
| 5 | DALLAS AREA RAPID -A | 2.613% | 12/01/48 | 3.26% | 68.36 | 66.20 | 4 |
| 6 | N BERGEN BRD OF EDU | 4.000% | 07/15/51 | 3.07% | 99.25 | 96.29 | 2 |
| 7 | PUERTO RICO INDL-A-2 | 6.500% | 01/01/42 | 3.02% | 117.44 | 113.99 | 3 |
| 8 | FOOTHILL ESTRN TRANSP | 3.924% | 01/15/53 | 2.83% | 80.17 | 77.97 | 3 |
| 9 | LOS ANGELES ARPTS-A | 4.242% | 05/15/48 | 2.82% | 85.18 | 82.84 | 3 |
| 10 | UNIV OF MICHIGAN-A | 3.504% | 04/01/52 | 2.74% | 78.96 | 76.85 | 6 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 2/23/24-3/1/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | NY SYOSCD 2.13 12/15/2037 | 2.125% | 12/15/37 | -3.01% | 79.30 | 81.76 | 12 |
| 2 | AZ TUCCTF 6.75 07/01/2030 | 6.750% | 07/01/30 | -2.92% | 105.54 | 108.71 | 4 |
| 3 | TX ANNSCD 4.00 08/15/2050 | 4.000% | 08/15/50 | -2.62% | 96.91 | 99.51 | 2 |
| 4 | IN SJOEDU 6.50 03/01/2026 | 6.500% | 03/01/26 | -2.58% | 104.24 | 107.00 | 2 |
| 5 | PA SCAGEN 4.00 06/01/2049 | 4.000% | 06/01/49 | -2.38% | 96.09 | 98.43 | 2 |
| 6 | NY NYSHGR 5.00 05/01/2037 | 5.000% | 05/01/37 | -2.35% | 111.00 | 113.67 | 2 |
| 7 | NY ORAGEN 5.00 07/01/2029 | 5.000% | 07/01/29 | -2.22% | 100.57 | 102.85 | 9 |
| 8 | MA LYN 3.00 09/01/2033 | 3.000% | 09/01/33 | -2.22% | 95.80 | 97.98 | 2 |
| 9 | FL SOUMED 3.50 05/01/2039 | 3.500% | 05/01/39 | -2.21% | 92.80 | 94.89 | 2 |
| 10 | NH NHSSFH 3.16 07/01/2040 | 3.163% | 07/01/40 | -2.17% | 97.00 | 99.16 | 4 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 2/23/24-3/1/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | OR | -26 bps | 3.74% | 3.99% |
| 2 | OH | -18 bps | 3.50% | 3.68% |
| 3 | KS | -17 bps | 3.35% | 3.51% |
| 4 | FL | -15 bps | 3.49% | 3.64% |
| 5 | NE | -12 bps | 3.41% | 3.53% |
| 6 | LA | -11 bps | 3.15% | 3.25% |
| 7 | NY | -11 bps | 3.63% | 3.74% |
| 8 | TN | -9 bps | 3.19% | 3.28% |
| 9 | IA | -8 bps | 3.47% | 3.55% |
| 10 | NM | -7 bps | 3.51% | 3.58% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 2/23/24-3/1/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | OK | 26 bps | 3.20% | 2.94% |
| 2 | NV | 16 bps | 3.33% | 3.17% |
| 3 | MA | 15 bps | 3.62% | 3.46% |
| 4 | KY | 15 bps | 3.24% | 3.10% |
| 5 | HI | 12 bps | 4.16% | 4.04% |
| 6 | ME | 8 bps | 3.27% | 3.19% |
| 7 | NC | 7 bps | 3.37% | 3.31% |
| 8 | DE | 7 bps | 3.09% | 3.02% |
| 9 | AK | 6 bps | 3.61% | 3.55% |
| 10 | ID | 6 bps | 3.40% | 3.34% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/23/24-3/1/24 (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 2/23/24-3/1/24 (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 2/23/24-3/1/24 (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 2/23/24-3/1/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/23/24 vs. the week ending 3/1/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | LOS ANGELES DEPT ARPT | 5.000% | 05/15/30 | 29 | 92 | 63 | 217% |
| 2 | NEW YORK ST DORM AUTH | 2.592% | 07/01/35 | 9 | 69 | 60 | 667% |
| 3 | DASNY -A -REF -GROUP | 4.000% | 03/15/47 | 15 | 72 | 57 | 380% |
| 4 | LIBERTY HILL ISD | 4.000% | 02/01/48 | 10 | 67 | 57 | 570% |
| 5 | MOUNT VERNON ISD | 4.000% | 08/15/53 | 11 | 67 | 56 | 509% |
| 6 | MIAMI-DADE CO -REV | 5.000% | 07/01/47 | 2 | 57 | 55 | 2750% |
| 7 | NEW YORK ST DORM AUTH | 5.000% | 07/01/50 | 29 | 80 | 51 | 176% |
| 8 | BONHAM ISD | 4.000% | 02/15/53 | 30 | 80 | 50 | 167% |
| 9 | NYC TRANSITIONAL-F-1 | 5.000% | 02/01/47 | 24 | 73 | 49 | 204% |
| 10 | NEW YORK ST TWY -C | 5.000% | 03/15/55 | 34 | 83 | 49 | 144% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/23/24 – 3/1/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | OK WTR RES BRD-A | 4.125% | 10/01/53 | 43 |
| 2 | PRIV CLGS & UNIV AUTH | 5.000% | 09/01/33 | 42 |
| 3 | WYLIE ISD | 4.250% | 02/15/54 | 38 |
| 4 | CARRIZO SPRINGS ISD | 5.000% | 08/15/49 | 36 |
| 5 | GARLAND ISD-A | 5.000% | 02/15/48 | 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 | MONTGOMERY CO -A | 5.000% | 08/01/32 | 35 |
| 9 | PENN TNPK COMM-C-REF | 4.000% | 12/01/51 | 33 |
| 10 | NYC TRANSIT FIN-F-1 | 5.000% | 02/01/47 | 33 |
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