Municipal Bond Market Summary – Week Ending 6/28/24
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Municipal Bond Market Summary: Week Ending 6/28/24
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 6/21/24-6/28/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | MADISON CO CAP RESRCE | 3.266% | 07/01/39 | 4.84% | 82.62 | 78.81 | 10 |
| 2 | BROWARD CNTY FL ARPT | 3.477% | 10/01/43 | 3.83% | 83.02 | 79.95 | 6 |
| 3 | MO ST HLTH & EDU FAC | 3.625% | 11/15/47 | 3.76% | 89.02 | 85.79 | 2 |
| 4 | MICHIGAN ST-B | 2.500% | 05/15/40 | 2.67% | 75.49 | 73.52 | 7 |
| 5 | NY TOBACCO-A-2B-REF | 5.000% | 06/01/51 | 2.61% | 94.89 | 92.48 | 4 |
| 6 | CALIFORNIA ST EDUCTNL | 3.836% | 04/01/47 | 2.59% | 83.26 | 81.16 | 4 |
| 7 | UNIV OF CA-AP-TXBL | 3.931% | 05/15/45 | 2.21% | 92.12 | 90.13 | 8 |
| 8 | WILKINSBURG BORO SD | 4.250% | 05/15/48 | 2.19% | 100.68 | 98.52 | 2 |
| 9 | PENNSYLVANIA ST ECON | 2.852% | 06/15/36 | 2.17% | 81.16 | 79.44 | 9 |
| 10 | CASTLEWOOD SD #28-1 | 4.250% | 08/01/53 | 2.06% | 98.75 | 96.75 | 5 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 6/21/24-6/28/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CA SJHTRN 3.49 01/15/2050 | 3.492% | 01/15/50 | -4.55% | 75.09 | 78.67 | 6 |
| 2 | FL MIATRN 5.62 07/01/2040 | 5.624% | 07/01/40 | -4.23% | 103.80 | 108.39 | 2 |
| 3 | IL CHITRN 6.90 12/01/2040 | 6.899% | 12/01/40 | -3.38% | 108.11 | 111.89 | 9 |
| 4 | NY NYCGEN 5.00 05/01/2048 | 5.000% | 05/01/48 | -3.35% | 105.74 | 109.41 | 13 |
| 5 | TX BVLSCD 4.13 02/15/2049 | 4.125% | 02/15/49 | -3.14% | 97.73 | 100.90 | 6 |
| 6 | TX UNIHGR 5.26 07/01/2039 | 5.262% | 07/01/39 | -3.05% | 98.65 | 101.76 | 7 |
| 7 | TX GNWSCD 4.00 02/15/2054 | 4.000% | 02/15/54 | -3.03% | 94.97 | 97.94 | 26 |
| 8 | MN MNSHSG 3.00 08/01/2037 | 3.000% | 08/01/37 | -2.84% | 87.58 | 90.14 | 3 |
| 9 | CA SMSSCD 0.00 08/01/2051 | 0.000% | 08/01/51 | -2.78% | 31.36 | 32.26 | 3 |
| 10 | CA ELKEDU 3.00 02/01/2035 | 3.000% | 02/01/35 | -2.54% | 89.30 | 91.63 | 3 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 6/21/24-6/28/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NM | -14 bps | 3.90% | 4.04% |
| 2 | TN | -13 bps | 3.65% | 3.78% |
| 3 | LA | -6 bps | 3.88% | 3.94% |
| 4 | WA | -5 bps | 3.79% | 3.84% |
| 5 | MO | -4 bps | 3.82% | 3.86% |
| 6 | KS | -4 bps | 4.01% | 4.05% |
| 7 | AR | -2 bps | 4.17% | 4.19% |
| 8 | GA | -2 bps | 3.66% | 3.68% |
| 9 | NJ | 0 bps | 4.05% | 4.05% |
| 10 | MA | 1 bps | 3.78% | 3.77% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 6/21/24-6/28/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NH | 32 bps | 3.94% | 3.62% |
| 2 | DE | 23 bps | 3.58% | 3.35% |
| 3 | HI | 18 bps | 4.07% | 3.88% |
| 4 | AL | 17 bps | 4.05% | 3.88% |
| 5 | NV | 17 bps | 3.81% | 3.63% |
| 6 | UT | 16 bps | 3.85% | 3.69% |
| 7 | FL | 14 bps | 3.99% | 3.84% |
| 8 | MI | 14 bps | 4.05% | 3.91% |
| 9 | NE | 14 bps | 3.99% | 3.85% |
| 10 | KY | 14 bps | 3.84% | 3.71% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 6/21/24-6/28/24 (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 6/21/24-6/28/24 (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 6/21/24-6/28/24 (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 6/21/24-6/28/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 6/21/24 vs. the week ending 6/28/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CHAMBERS CO PUB FACS | 5.500% | 06/01/55 | 28 | 88 | 60 | 214% |
| 2 | NEW YORK -A-1 | 4.000% | 08/01/41 | 41 | 95 | 54 | 132% |
| 3 | LOS ANGELES DEPT WTR | 5.000% | 07/01/47 | 46 | 99 | 53 | 115% |
| 4 | TRIBOROUGH NY BRIDGE | 5.000% | 11/15/28 | 15 | 68 | 53 | 353% |
| 5 | KENT OH ST UNIV-B-REF | 3.333% | 05/01/40 | 28 | 80 | 52 | 186% |
| 6 | CA ST PUB WKS BRD -D | 5.000% | 11/01/41 | 35 | 85 | 50 | 143% |
| 7 | CHAMBERS CO PUB FACS | 5.500% | 06/01/49 | 34 | 84 | 50 | 147% |
| 8 | MO HLTH & EDU FACS | 4.000% | 07/01/46 | 3 | 53 | 50 | 1667% |
| 9 | BIRMINGHAM CIVIC CTR | 5.000% | 05/01/48 | 5 | 53 | 48 | 960% |
| 10 | AUBREY ISD-REF | 4.000% | 02/15/54 | 1 | 49 | 48 | 4800% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 6/21/24 – 6/28/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES UNIF SD-A | 5.000% | 07/01/33 | 39 |
| 2 | SACRAMENTO USD-B | 4.000% | 08/01/54 | 38 |
| 3 | TRIBOROUGH BRIDGE-B-1 | 4.125% | 05/15/54 | 35 |
| 4 | CALIFORNIA ST | 5.000% | 11/01/30 | 34 |
| 5 | HARRIS CO-A-REV | 4.000% | 08/15/49 | 34 |
| 6 | LOS ANGELES CMNTY CLG | 5.000% | 08/01/32 | 33 |
| 7 | PA HSG FIN AGY-145A | 4.600% | 10/01/44 | 33 |
| 8 | LOS ANGELES UNIF SD-A | 5.000% | 07/01/34 | 33 |
| 9 | CALIFORNIA ST-REF | 5.000% | 09/01/35 | 33 |
| 10 | MASSACHUSETTS ST-B | 5.000% | 05/01/42 | 33 |
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