Municipal Bond Market Summary – Week Ending 8/9/24
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Municipal Bond Market Summary: Week Ending 8/9/24
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 8/2/24-8/9/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | RUTGERS UNIV-P-TXBL | 3.915% | 05/01/19 | 5.37% | 74.11 | 70.33 | 3 |
| 2 | GRAND FORKS-REV-REF | 3.000% | 12/01/51 | 5.18% | 80.47 | 76.51 | 3 |
| 3 | COAST CMNTY CLG DT | 2.957% | 08/01/38 | 4.98% | 85.56 | 81.50 | 4 |
| 4 | LUMBERTON ISD | 3.000% | 02/15/40 | 4.48% | 92.29 | 88.33 | 5 |
| 5 | NEWPORT NEWS-A | 3.000% | 08/01/34 | 4.24% | 97.71 | 93.74 | 4 |
| 6 | UNIV OF MICHIGAN-A | 4.454% | 04/01/22 | 4.24% | 87.69 | 84.13 | 10 |
| 7 | WA ST CONVENTION-B | 4.000% | 07/01/58 | 4.20% | 93.51 | 89.74 | 4 |
| 8 | LAWSON | 4.000% | 03/01/44 | 4.19% | 102.38 | 98.27 | 3 |
| 9 | UNIV OF CALIFORNIA -B | 2.650% | 05/15/50 | 4.13% | 69.91 | 67.14 | 5 |
| 10 | MET TRANS AUTH-B2 | 3.125% | 11/15/33 | 4.12% | 97.97 | 94.09 | 3 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 8/2/24-8/9/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | IL CHI 6.26 01/01/2040 | 6.257% | 01/01/40 | -4.82% | 99.48 | 104.53 | 8 |
| 2 | IL CHITRN 4.00 12/01/2055 | 4.000% | 12/01/55 | -4.26% | 93.73 | 97.90 | 6 |
| 3 | CA UNVHGR 4.00 05/15/2051 | 4.000% | 05/15/51 | -3.68% | 100.41 | 104.25 | 2 |
| 4 | PA PASSFH 3.20 04/01/2040 | 3.200% | 04/01/40 | -3.63% | 84.37 | 87.55 | 2 |
| 5 | PA ALLAPT 4.00 01/01/2046 | 4.000% | 01/01/46 | -3.61% | 98.82 | 102.52 | 2 |
| 6 | TX PTDHGR 2.00 08/15/2050 | 2.000% | 08/15/50 | -3.54% | 61.35 | 63.60 | 3 |
| 7 | CA SDOWTR 4.00 08/01/2052 | 4.000% | 08/01/52 | -3.50% | 100.30 | 103.95 | 3 |
| 8 | GA BURPOL 2.75 01/01/2052 | 2.750% | 01/01/52 | -3.41% | 71.35 | 73.87 | 2 |
| 9 | WV PUTUTL 2.50 04/01/2051 | 2.500% | 04/01/51 | -3.40% | 66.19 | 68.52 | 2 |
| 10 | GA MELPWR 7.06 04/01/2057 | 7.055% | 04/01/57 | -3.34% | 112.67 | 116.56 | 10 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 8/2/24-8/9/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | OK | -22 bps | 3.14% | 3.36% |
| 2 | GA | -20 bps | 3.26% | 3.46% |
| 3 | SC | -16 bps | 3.47% | 3.62% |
| 4 | NH | -13 bps | 3.39% | 3.52% |
| 5 | NC | -11 bps | 3.27% | 3.38% |
| 6 | MD | -10 bps | 3.25% | 3.35% |
| 7 | ND | -10 bps | 3.51% | 3.61% |
| 8 | UT | -8 bps | 3.34% | 3.42% |
| 9 | KS | -7 bps | 3.75% | 3.83% |
| 10 | HI | -4 bps | 3.87% | 3.91% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 8/2/24-8/9/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MO | 30 bps | 3.91% | 3.61% |
| 2 | WV | 25 bps | 3.55% | 3.30% |
| 3 | CO | 21 bps | 3.67% | 3.46% |
| 4 | RI | 19 bps | 3.35% | 3.16% |
| 5 | IL | 12 bps | 4.02% | 3.90% |
| 6 | KY | 11 bps | 3.62% | 3.50% |
| 7 | NJ | 10 bps | 3.70% | 3.60% |
| 8 | IA | 8 bps | 3.64% | 3.56% |
| 9 | OH | 7 bps | 3.58% | 3.51% |
| 10 | MA | 7 bps | 3.46% | 3.40% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/2/24-8/9/24 (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 8/2/24-8/9/24 (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 8/2/24-8/9/24 (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 8/2/24-8/9/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/2/24 vs. the week ending 8/9/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | NEW JERSEY ST TRANSPR | 5.000% | 06/15/32 | 73 | 155 | 82 | 112% |
| 2 | MIAMI-DADE CNTY FL WT | 5.000% | 10/01/33 | 37 | 118 | 81 | 219% |
| 3 | UKIAH UNIF SD-C | 5.250% | 08/01/46 | 29 | 103 | 74 | 255% |
| 4 | NYC TRANSIT FIN-F-1 | 5.000% | 02/01/49 | 12 | 85 | 73 | 608% |
| 5 | S JERSEY NJ TRANSPRTN | 4.000% | 11/01/50 | 5 | 77 | 72 | 1440% |
| 6 | NY MUNI WTR FIN-HH | 5.000% | 06/15/39 | 44 | 114 | 70 | 159% |
| 7 | HARLANDALE ISD-REF-B | 5.000% | 08/15/39 | 4 | 70 | 66 | 1650% |
| 8 | ALHAMBRA UNIF SD-B | 5.250% | 08/01/47 | 49 | 113 | 64 | 131% |
| 9 | DESOTO CTFS OBLIG | 4.000% | 02/15/43 | 30 | 93 | 63 | 210% |
| 10 | NYC TRANSIT FIN-F-1 | 5.000% | 02/01/46 | 21 | 83 | 62 | 295% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/2/24 – 8/9/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NYC TRANSITIONAL-A-1 | 5.000% | 11/01/36 | 52 |
| 2 | LOS ANGELES UNIF SD-A | 5.000% | 07/01/34 | 49 |
| 3 | NYC TRANSITIONAL-A-1 | 5.000% | 11/01/37 | 45 |
| 4 | MASSACHUSETTS ST-B | 5.000% | 05/01/54 | 42 |
| 5 | SACRAMENTO USD-B | 4.000% | 08/01/54 | 41 |
| 6 | NYC TRANSITIONAL-A-1 | 5.000% | 11/01/31 | 41 |
| 7 | NYC TRANSITIONAL-A-1 | 5.000% | 11/01/33 | 41 |
| 8 | MET WASHINGTON DC ARP | 4.000% | 10/01/52 | 39 |
| 9 | NYC TRANSITIONAL-A-1 | 5.000% | 11/01/35 | 39 |
| 10 | MARYLAND ST-A | 5.000% | 06/01/39 | 39 |
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