Municipals
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Municipal Bond Market Summary:
Week Ending 2/28/25
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 2/21/25-2/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | KALAMAZOO-CAPTL IMPT | 3.000% | 10/01/30 | 5.27% | 99.97 | 94.97 | 2 |
| 2 | MAYWOOD-REV-TXBL | 3.614% | 06/01/51 | 5.12% | 73.50 | 69.92 | 5 |
| 3 | CALIFORNIA ST INFRA-B | 5.889% | 12/01/45 | 5.05% | 105.15 | 100.09 | 2 |
| 4 | BRIDGETON TAX-HILLTOP | 5.600% | 05/01/29 | 5.03% | 63.79 | 60.73 | 2 |
| 5 | OHIO HOSP FAC-A-REF | 3.250% | 01/01/35 | 4.93% | 99.24 | 94.58 | 9 |
| 6 | SUPERSTITION FIRE DT- | 3.271% | 07/01/45 | 4.70% | 77.69 | 74.21 | 2 |
| 7 | RALEIGH NC LTD OBLIG | 2.250% | 06/01/40 | 4.49% | 78.24 | 74.87 | 2 |
| 8 | SUN CITY FIRE DT-COPS | 3.431% | 07/01/47 | 4.43% | 75.38 | 72.18 | 2 |
| 9 | DENTON FRESH WTR DT#6 | 3.250% | 02/15/36 | 4.21% | 95.48 | 91.63 | 2 |
| 10 | SALES TAX-B-REF-TXBL | 3.238% | 01/01/42 | 4.13% | 82.81 | 79.53 | 10 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 2/21/25-2/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | NY TRITRN 4.00 05/15/2057 | 4.000% | 05/15/57 | -2.28% | 95.70 | 97.93 | 3 |
| 2 | CA PCTSCD 3.00 08/01/2039 | 3.000% | 08/01/39 | -2.27% | 92.23 | 94.37 | 5 |
| 3 | FL ALAMED 4.00 12/01/2049 | 4.000% | 12/01/49 | -1.96% | 91.45 | 93.28 | 9 |
| 4 | NY NYSTRN 4.00 03/15/2045 | 4.000% | 03/15/45 | -1.88% | 99.18 | 101.08 | 2 |
| 5 | MA MINHGR 2.00 04/15/2034 | 2.000% | 04/15/34 | -1.78% | 82.75 | 84.25 | 2 |
| 6 | PA PASTRN 4.00 12/01/2044 | 4.000% | 12/01/44 | -1.44% | 97.47 | 98.90 | 7 |
| 7 | MI NWNHGR 5.00 05/01/2036 | 5.000% | 05/01/36 | -1.37% | 112.26 | 113.82 | 2 |
| 8 | NY LGB 4.00 02/01/2045 | 4.000% | 02/01/45 | -1.28% | 98.82 | 100.10 | 2 |
| 9 | MA MGU 2.63 02/01/2043 | 2.625% | 02/01/43 | -1.27% | 75.59 | 76.56 | 2 |
| 10 | MA WAT 4.00 06/15/2053 | 4.000% | 06/15/53 | -1.25% | 97.70 | 98.94 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 2/21/25-2/28/25
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | MS | -36 bps | 3.39% | 3.75% |
| 2 | GA | -33 bps | 3.26% | 3.58% |
| 3 | KY | -27 bps | 3.65% | 3.92% |
| 4 | SC | -27 bps | 3.52% | 3.78% |
| 5 | ND | -25 bps | 3.38% | 3.62% |
| 6 | NE | -25 bps | 3.55% | 3.80% |
| 7 | IA | -23 bps | 3.62% | 3.85% |
| 8 | KS | -22 bps | 3.64% | 3.86% |
| 9 | VA | -20 bps | 3.45% | 3.65% |
| 10 | AZ | -19 bps | 3.53% | 3.73% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 2/21/25-2/28/25
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | DC | 10 bps | 3.50% | 3.40% |
| 2 | UT | 7 bps | 3.53% | 3.46% |
| 3 | WA | 0 bps | 3.83% | 3.84% |
| 4 | OR | -3 bps | 3.78% | 3.81% |
| 5 | MT | -3 bps | 3.61% | 3.64% |
| 6 | WV | -6 bps | 3.79% | 3.85% |
| 7 | CO | -6 bps | 3.71% | 3.77% |
| 8 | AK | -7 bps | 3.57% | 3.63% |
| 9 | CT | -7 bps | 3.82% | 3.89% |
| 10 | MI | -9 bps | 3.70% | 3.79% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/21/25-2/28/25 (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 2/21/25-2/28/25 (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 2/21/25-2/28/25 (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 2/21/25-2/28/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/21/25 vs. the week ending 2/28/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | KANSAS CITY ARPT-B | 5.000% | 03/01/54 | 23 | 99 | 76 | 330% |
| 2 | ORANGE CO HLTH FACS | 4.000% | 10/01/52 | 37 | 98 | 61 | 165% |
| 3 | MASSACHUSETTS ST-A | 5.000% | 03/01/32 | 91 | 151 | 60 | 66% |
| 4 | OK HSG FIN AGY-C | 4.650% | 03/01/56 | 13 | 71 | 58 | 446% |
| 5 | MET TRANSPRTN -A-1 | 4.000% | 11/15/46 | 5 | 63 | 58 | 1160% |
| 6 | CA ST UNIV-D | 2.817% | 11/01/42 | 30 | 88 | 58 | 193% |
| 7 | HARRIS CO-CTFS OBLIG | 5.000% | 09/15/31 | 15 | 71 | 56 | 373% |
| 8 | COLORADO BRIDGE-REF-B | 5.000% | 12/01/33 | 18 | 71 | 53 | 294% |
| 9 | NJ TRANSPRTN TRUST-AA | 4.000% | 06/15/50 | 52 | 105 | 53 | 102% |
| 10 | COLLIN CNTY -REF | 5.000% | 02/15/37 | 78 | 130 | 52 | 67% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/21/25 – 2/28/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NEW YORK CITY TRANSITIONAL FIN | 5.000% | 11/01/53 | 53 |
| 2 | SEGUIN-CTFS OF OBLIG | 5.500% | 09/01/59 | 51 |
| 3 | TRIBOROUGH BRIDGE-A | 5.000% | 12/01/50 | 51 |
| 4 | JEA WTR & SWR REV-A | 5.250% | 10/01/55 | 50 |
| 5 | NYC MUNI WTR FIN-AA1 | 5.250% | 06/15/53 | 43 |
| 6 | TRIBOROUGH BRIDGE-A | 5.250% | 12/01/48 | 42 |
| 7 | CT ST HLTH & EDU-U-RE | 5.000% | 07/01/33 | 42 |
| 8 | OK TPK AUTH-A | 4.250% | 01/01/55 | 41 |
| 9 | TRIBOROUGH BRIDGE-A | 5.250% | 12/01/54 | 41 |
| 10 | NYC TRANSITIONAL-F-1 | 5.000% | 11/01/39 | 41 |
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