Municipals
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Municipal Bond Market Summary:
Week Ending 3/21/25
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 3/14/25-3/21/25
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
1 | GREEN BAY-A-PROM NTS | 4.250% | 04/01/45 | 5.12% | 101.36 | 96.43 | 5 |
2 | GA HSG & FIN AUTH | 3.800% | 12/01/37 | 4.83% | 99.97 | 95.37 | 7 |
3 | DALLAS-A | 3.000% | 02/15/38 | 4.38% | 88.92 | 85.19 | 2 |
4 | NEW YORK ST TWY-A-REF | 4.000% | 03/15/51 | 3.34% | 96.02 | 92.92 | 3 |
5 | OH HGR EDU FAC | 4.000% | 07/01/47 | 3.22% | 91.92 | 89.05 | 2 |
6 | HIDALGO CNTY TX-A | 4.000% | 08/15/43 | 3.13% | 96.68 | 93.74 | 2 |
7 | GRANDVIEW HEIGHTS | 4.375% | 12/01/60 | 2.87% | 98.31 | 95.56 | 21 |
8 | SOUTH CAROLINA ST PUB | 6.447% | 12/01/42 | 2.80% | 111.22 | 108.19 | 5 |
9 | ANNISTON | 3.000% | 03/01/42 | 2.67% | 81.34 | 79.23 | 2 |
10 | COOK CO TWP HSD #227 | 4.000% | 05/01/40 | 2.66% | 97.01 | 94.50 | 2 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 3/14/25-3/21/25
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
1 | WA SEAPWR 4.00 09/01/2044 | 4.000% | 09/01/44 | -5.00% | 95.05 | 100.04 | 5 |
2 | CO CO PSPUTL 5.5 03/01/2026 4.25 03/01/2037 | 4.250% | 03/01/37 | -4.81% | 97.74 | 102.68 | 2 |
3 | VA VA VACHGR 5 09/01/2016 4.00 09/01/2051 | 4.000% | 09/01/51 | -4.50% | 93.58 | 97.99 | 8 |
4 | VT VTSEDU 4.00 11/01/2050 | 4.000% | 11/01/50 | -4.50% | 93.32 | 97.72 | 8 |
5 | FL FMYUTL 4.00 10/01/2049 | 4.000% | 10/01/49 | -4.14% | 92.64 | 96.64 | 2 |
6 | CA TRAFAC 5.75 09/01/2048 | 5.750% | 09/01/48 | -4.14% | 106.92 | 111.53 | 11 |
7 | CA SFOGEN 4.00 09/01/2051 | 4.000% | 09/01/51 | -3.91% | 85.96 | 89.46 | 8 |
8 | NY NYCGEN 4.00 05/01/2045 | 4.000% | 05/01/45 | -3.65% | 94.17 | 97.74 | 5 |
9 | MS MSUFAC 4.00 08/01/2043 | 4.000% | 08/01/43 | -3.42% | 96.49 | 99.90 | 2 |
10 | NY HKVWTR 3.13 03/01/2037 | 3.125% | 03/01/37 | -3.41% | 92.72 | 95.99 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 3/14/25-3/21/25
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | FL | -20 bps | 3.85% | 4.05% |
2 | KY | -16 bps | 3.89% | 4.05% |
3 | MD | -15 bps | 3.74% | 3.89% |
4 | AK | -13 bps | 3.43% | 3.56% |
5 | GA | -13 bps | 3.49% | 3.62% |
6 | ME | -11 bps | 3.85% | 3.97% |
7 | NE | -11 bps | 3.89% | 4.01% |
8 | MI | -11 bps | 3.94% | 4.04% |
9 | CT | -9 bps | 4.02% | 4.11% |
10 | WA | -8 bps | 3.83% | 3.91% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 3/14/25-3/21/25
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | HI | 21 bps | 4.14% | 3.93% |
2 | CO | 19 bps | 4.18% | 3.99% |
3 | TN | 16 bps | 4.01% | 3.84% |
4 | AR | 10 bps | 4.37% | 4.27% |
5 | UT | 8 bps | 3.70% | 3.62% |
6 | AZ | 4 bps | 3.88% | 3.85% |
7 | MS | 2 bps | 3.83% | 3.81% |
8 | WI | 2 bps | 4.06% | 4.04% |
9 | NY | 2 bps | 4.03% | 4.02% |
10 | NH | 1 bps | 3.75% | 3.74% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 3/14/25-3/21/25 (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 3/14/25-3/21/25 (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 3/14/25-3/21/25 (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 3/14/25-3/21/25

Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 3/14/25 vs. the week ending 3/21/25
RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
1 | HAMPTON ROADS TRANSPR | 4.000% | 07/01/57 | 37 | 127 | 90 | 243% |
2 | CALIFORNIA-REF | 5.000% | 08/01/37 | 5 | 92 | 87 | 1740% |
3 | CALIFORNIA-REF | 5.000% | 08/01/34 | 5 | 92 | 87 | 1740% |
4 | CALIFORNIA-REF | 5.000% | 08/01/36 | 15 | 97 | 82 | 547% |
5 | CALIFORNIA ST | 5.000% | 12/01/34 | 7 | 88 | 81 | 1157% |
6 | UNIV OF CA REGENTS | 5.000% | 05/15/41 | 10 | 90 | 80 | 800% |
7 | CALIFORNIA ST | 5.000% | 08/01/30 | 10 | 88 | 78 | 780% |
8 | HUMBLE ISD | 4.000% | 02/15/52 | 8 | 83 | 75 | 938% |
9 | CALIFORNIA ST UNIV-A | 5.000% | 11/01/43 | 15 | 88 | 73 | 487% |
10 | NYC TRANSITIONAL-F-1 | 5.000% | 02/01/47 | 25 | 96 | 71 | 284% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 3/14/25 – 3/21/25
RANK | TRANCHE | COUPON | MATURITY | DEALERS |
1 | NYC MUNI WTR FIN-AA1 | 5.250% | 06/15/53 | 56 |
2 | NYC TRANSITIONAL-F-1 | 5.000% | 11/01/39 | 53 |
3 | NYC TRANSITIONAL-F-1 | 5.000% | 11/01/37 | 51 |
4 | NYC MUNI WTR FIN-BB | 5.250% | 06/15/55 | 47 |
5 | OK TPK AUTH-A | 5.250% | 01/01/50 | 45 |
6 | NYC TRANSITIONAL-F-1 | 5.000% | 11/01/38 | 44 |
7 | DENVER CO SD#1-C | 5.500% | 12/01/46 | 44 |
8 | NEW YORK CITY TRANSITIONAL FIN | 5.000% | 11/01/46 | 44 |
9 | RIVERSIDE CCD-A | 4.000% | 08/01/50 | 43 |
10 | SEGUIN-CTFS OF OBLIG | 5.500% | 09/01/59 | 43 |
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