Municipal Bond Market Summary – Week Ending 4/19/24
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Municipal Bond Market Summary: Week Ending 4/19/24
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 4/12/24-4/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TEXAS ST -A -AMT | 4.125% | 08/01/46 | 3.92% | 95.53 | 91.93 | 13 |
| 2 | GLENDALE AZ INDL DEV | 4.000% | 11/15/27 | 3.80% | 91.88 | 88.52 | 2 |
| 3 | PA ECON DEV FIN AUTH | 4.000% | 04/15/50 | 2.77% | 93.84 | 91.31 | 6 |
| 4 | PENNSYLVANIA ST HGR E | 4.000% | 08/15/49 | 2.76% | 96.14 | 93.56 | 18 |
| 5 | PR SALES TAX FING-A1 | 0.000% | 07/01/33 | 2.69% | 69.79 | 67.96 | 4 |
| 6 | CVI-CW/CONV CTR | 0.000% | 11/01/51 | 2.68% | 41.09 | 40.02 | 5 |
| 7 | COLORADO ST -COPS-R | 4.000% | 03/15/45 | 2.30% | 98.83 | 96.61 | 4 |
| 8 | MIAMI-DADE CO WTR&SWR | 4.000% | 10/01/49 | 2.29% | 96.57 | 94.41 | 14 |
| 9 | DINOSAUR RIDGE MET DT | 5.000% | 06/01/49 | 2.16% | 94.40 | 92.40 | 2 |
| 10 | LAGUNA CO SAN DT-COPS | 3.000% | 12/01/33 | 1.99% | 97.45 | 95.55 | 2 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 4/12/24-4/19/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CA LOSAPT 4.00 05/15/2044 | 4.000% | 05/15/44 | -5.31% | 94.07 | 99.34 | 10 |
| 2 | GA MELPWR 6.66 04/01/2057 | 6.655% | 04/01/57 | -4.86% | 109.48 | 115.07 | 3 |
| 3 | NH NFAGEN 3.30 04/01/2032 | 3.300% | 04/01/32 | -4.76% | 73.80 | 77.49 | 6 |
| 4 | IL STSGEN 4.79 01/01/2048 | 4.787% | 01/01/48 | -4.38% | 89.21 | 93.30 | 3 |
| 5 | PA SPRSCD 2.00 11/15/2031 | 2.000% | 11/15/31 | -4.38% | 86.26 | 90.21 | 3 |
| 6 | MD MDSMED 3.20 07/01/2050 | 3.197% | 07/01/50 | -3.94% | 68.83 | 71.65 | 2 |
| 7 | TX TAFSCD 4.21 08/15/2036 | 4.207% | 08/15/36 | -3.82% | 93.30 | 97.01 | 2 |
| 8 | MO WENCTF 3.00 11/01/2044 | 3.000% | 11/01/44 | -3.76% | 77.42 | 80.45 | 3 |
| 9 | OH AMEPWR 5.94 02/15/2047 | 5.939% | 02/15/47 | -3.72% | 101.30 | 105.21 | 3 |
| 10 | CA LAATRN 4.24 05/15/2048 | 4.242% | 05/15/48 | -3.68% | 82.52 | 85.67 | 14 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 4/12/24-4/19/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DC | -16 bps | 3.70% | 3.87% |
| 2 | HI | -12 bps | 3.67% | 3.79% |
| 3 | CO | -8 bps | 4.00% | 4.08% |
| 4 | WA | -8 bps | 3.82% | 3.90% |
| 5 | FL | -8 bps | 3.68% | 3.76% |
| 6 | LA | -6 bps | 3.67% | 3.73% |
| 7 | CT | -5 bps | 3.75% | 3.79% |
| 8 | WV | -2 bps | 3.46% | 3.48% |
| 9 | DE | -1 bps | 3.06% | 3.07% |
| 10 | NH | -1 bps | 3.65% | 3.66% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 4/12/24-4/19/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NE | 30 bps | 3.80% | 3.50% |
| 2 | VA | 27 bps | 3.63% | 3.37% |
| 3 | SC | 25 bps | 3.43% | 3.18% |
| 4 | AK | 23 bps | 3.66% | 3.43% |
| 5 | ME | 19 bps | 3.93% | 3.74% |
| 6 | RI | 17 bps | 3.56% | 3.39% |
| 7 | MD | 15 bps | 3.70% | 3.55% |
| 8 | KY | 11 bps | 3.53% | 3.42% |
| 9 | IA | 11 bps | 3.91% | 3.80% |
| 10 | GA | 10 bps | 3.43% | 3.33% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 4/12/24-4/19/24 (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 4/12/24-4/19/24 (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 4/12/24-4/19/24 (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 4/12/24-4/19/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 4/12/24 vs. the week ending 4/19/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | HAWAII ST-B-TXBL-REV | 3.484% | 07/01/50 | 34 | 106 | 72 | 212% |
| 2 | BAY AREA TOLL AUTH | 4.125% | 04/01/54 | 38 | 106 | 68 | 179% |
| 3 | MD DEPT HSG & CMNTY D | 6.362% | 09/01/53 | 26 | 89 | 63 | 242% |
| 4 | CHINO VLY CA UNIF SD | 5.000% | 08/01/55 | 47 | 108 | 61 | 130% |
| 5 | ILLINOIS ST TOLL HIGH | 5.000% | 01/01/28 | 52 | 110 | 58 | 112% |
| 6 | SAN ANTONIO RIVER AUT | 4.375% | 01/01/45 | 3 | 60 | 57 | 1900% |
| 7 | MET TRANSPRTN AUTH NY | 5.000% | 11/15/33 | 30 | 87 | 57 | 190% |
| 8 | TEXAS ST -A -AMT | 4.125% | 08/01/46 | 4 | 60 | 56 | 1400% |
| 9 | BELMONT ETC SD-B-REF | 4.000% | 08/01/46 | 18 | 74 | 56 | 311% |
| 10 | ILLINOIS ST FOR ISSU | 6.630% | 02/01/35 | 62 | 115 | 53 | 85% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 4/12/24 – 4/19/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MIDLAND ISD | 5.000% | 02/15/47 | 43 |
| 2 | DASNY-A-REV-REF | 5.000% | 03/15/43 | 43 |
| 3 | UNIV OF CALIFORNIA-BV | 5.000% | 05/15/36 | 42 |
| 4 | NEW JERSEY EDUCTNL-B | 4.000% | 03/01/53 | 40 |
| 5 | LA PAZ IDA-REF-TXBL | 6.900% | 12/01/34 | 40 |
| 6 | CALIFORNIA ST-REF | 5.000% | 09/01/43 | 36 |
| 7 | DASNY-A-REV-REF | 5.250% | 03/15/52 | 35 |
| 8 | NEW YORK-E-REF | 5.000% | 08/01/34 | 35 |
| 9 | NY ENVRNMNTL FACS-A | 5.250% | 06/15/53 | 34 |
| 10 | MET TRANS AUTH-A-REF | 5.500% | 11/15/47 | 34 |
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