Municipals

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Municipal Bond Market Summary:
Week Ending 6/14/24

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 6/7/24-6/14/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 HOUSTON -D -REV -TXBL 2.542% 11/15/40 5.96% 74.86 70.65 10
2 JACKSON CNTY SD #6 0.000% 06/15/48 4.84% 32.02 30.54 4
3 ROANOKE VA ECON DEV A 5.000% 07/01/47 4.36% 116.62 111.75 7
4 PORT AUTH NY/NJ-TXBL 4.229% 10/15/57 4.31% 88.43 84.77 4
5 CAMERON CO 2.872% 02/15/38 4.14% 80.62 77.41 7
6 BREMERTON SD# 100-C 5.000% 12/01/38 4.07% 115.23 110.72 9
7 HENRICO CO ECON D-B 4.000% 08/01/39 4.01% 106.62 102.51 4
8 CLIFTON HGR EDU FIN 4.000% 08/15/45 3.67% 97.11 93.68 6
9 GOLDEN ST TOBACCO -B 2.746% 06/01/34 3.56% 84.60 81.70 9
10 UNIV OF CALIFORNIA CA 3.256% 05/15/60 3.54% 70.30 67.90 10

Bottom 10 Performers

Showcases the bottom 10 Muni Bond performers based on price movements between 6/7/24-6/14/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 NC FOR 3.00 03/01/2034 3.000% 03/01/34 -6.58% 93.03 99.58 2
2 NY NYCHSG 3.89 11/01/2029 3.890% 11/01/29 -5.40% 84.99 89.84 17
3 CA UNVHGR 3.93 05/15/2045 3.931% 05/15/45 -3.41% 87.55 90.64 3
4 OR ORSHGR 4.00 07/01/2044 4.000% 07/01/44 -2.53% 98.71 101.27 8
5 PA PASTRN 4.00 12/01/2051 4.000% 12/01/51 -2.51% 94.33 96.76 11
6 OH NEOUTL 3.00 11/15/2033 3.000% 11/15/33 -2.44% 92.72 95.05 3
7 NY ORAGEN 5.00 07/01/2042 5.000% 07/01/42 -2.27% 93.32 95.48 4
8 CA PALSCD 4.63 08/01/2053 4.625% 08/01/53 -2.27% 104.58 107.01 3
9 PA NLBSCD 3.00 09/01/2042 3.000% 09/01/42 -2.20% 84.08 85.97 14
10 GA GASHSG 3.30 12/01/2034 3.300% 12/01/34 -2.11% 92.07 94.06 5

Top 10 State Performers

Showcases the top 10 Muni State performers based on yield movements between 6/7/24-6/14/24

RANK STATE CHANGE YLD YLD-1W
1 NC -42 bps 3.36% 3.78%
2 ND -32 bps 3.64% 3.96%
3 ME -25 bps 3.80% 4.05%
4 KS -23 bps 3.90% 4.14%
5 FL -23 bps 3.87% 4.10%
6 NH -21 bps 3.69% 3.90%
7 AZ -21 bps 3.86% 4.07%
8 NE -21 bps 3.78% 3.99%
9 VA -19 bps 3.56% 3.74%
10 UT -19 bps 3.65% 3.83%

Bottom 10 State Performers

Showcases the bottom 10 Muni State performers based on yield movements between 6/7/24-6/14/24

RANK STATE CHANGE YLD YLD-1W
1 HI 4 bps 3.91% 3.88%
2 RI 3 bps 3.59% 3.56%
3 AL 3 bps 3.98% 3.95%
4 VT -2 bps 3.42% 3.43%
5 NJ -2 bps 4.12% 4.14%
6 MO -2 bps 3.89% 3.91%
7 OR -2 bps 4.08% 4.10%
8 DE -3 bps 3.59% 3.61%
9 LA -4 bps 3.90% 3.93%
10 WI -4 bps 3.94% 3.98%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 6/7/24-6/14/24 (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 6/7/24-6/14/24 (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 6/7/24-6/14/24 (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 6/7/24-6/14/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 6/7/24 vs. the week ending 6/14/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MARION ISD 4.125% 08/15/48 10 97 87 870%
2 HUTTO-CTFS OBLIGS 4.125% 08/01/49 1 81 80 8000%
3 MARION ISD 4.250% 08/15/52 8 87 79 988%
4 LOUISIANA ST-A 5.000% 05/01/36 32 105 73 228%
5 STHRN CA PUB PWR-A 5.000% 04/01/55 63 130 67 106%
6 MOUNT VERNON ISD 4.000% 08/15/53 31 96 65 210%
7 MET TRANSPRTN -A-1 4.000% 11/15/54 17 80 63 371%
8 DONNA ISD 5.000% 02/15/44 20 82 62 310%
9 CHICAGO-ARPT REV-REF 5.250% 01/01/41 22 82 60 273%
10 DONNA ISD 5.000% 02/15/37 20 79 59 295%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 6/7/24 – 6/14/24

RANK TRANCHE COUPON MATURITY DEALERS
1 CALIFORNIA ST 5.000% 11/01/30 40
2 TRIBOROUGH BRIDGE-B-1 4.125% 05/15/54 40
3 LOS ANGELES UNIF SD-A 5.000% 07/01/33 39
4 MA DEV FIN AGY-B 5.000% 02/15/33 34
5 LIBERTY HILL ISD 4.000% 02/01/49 34
6 LOS ANGELES UNIF SD-A 5.000% 07/01/32 33
7 WESLACO ISD 4.125% 02/15/49 33
8 WESLACO ISD 4.250% 02/15/54 32
9 CLOVIS UNIF DIST-C 4.000% 08/01/48 32
10 SC JOBS-ECON DEV -A 4.500% 11/01/54 32

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    Some Investors Are Still Paying High Prices for Munis – Originally published in The Wall Street Journal

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  • NEWS ROOM

    AI And The Municipal Bond Market: Solving The Pricing Problem – Originally published in Forbes

    Four fintech start-ups, using AI and data, are solving the pricing problem in the municipal bond market, upending entrenched incumbents along the way.