Municipals
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Municipal Bond Market Summary:
Week Ending 4/25/25
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 4/17/25-4/25/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | BROOME CNTY NY LOCAL | 3.000% | 04/01/50 | 6.02% | 68.54 | 64.65 | 7 |
| 2 | FL ST DEPT-C | 4.000% | 07/01/51 | 5.80% | 90.92 | 85.93 | 13 |
| 3 | MET WASHINGTON DC-B | 4.000% | 10/01/49 | 5.66% | 84.72 | 80.18 | 4 |
| 4 | CA HLTH FIN-A-UNREFD | 4.000% | 04/01/49 | 5.40% | 90.00 | 85.39 | 23 |
| 5 | LA ST HSG CORP MTGE-D | 2.350% | 12/01/41 | 5.04% | 72.49 | 69.02 | 5 |
| 6 | SAN DIEGO USD-I | 4.000% | 07/01/47 | 4.93% | 90.92 | 86.65 | 4 |
| 7 | WILLOUGHBY EASTLAKE | 3.310% | 12/01/43 | 4.62% | 74.76 | 71.45 | 6 |
| 8 | CHARLOTTESVILLE | 4.000% | 06/15/44 | 4.16% | 95.76 | 91.93 | 5 |
| 9 | NEW MEMPHIS ARENA PUB | 0.000% | 04/01/41 | 4.12% | 43.67 | 41.94 | 5 |
| 10 | MA DEV FIN AGY-REF | 4.250% | 07/01/55 | 3.75% | 92.60 | 89.25 | 20 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 4/17/25-4/25/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | MS SMEEDU 3.50 03/01/2043 | 3.500% | 03/01/43 | -9.32% | 88.11 | 97.17 | 4 |
| 2 | OH OHSHGR 4.25 12/01/2056 | 4.250% | 12/01/56 | -8.26% | 90.80 | 98.98 | 3 |
| 3 | FL SEMDEV 5.50 11/15/2049 | 5.500% | 11/15/49 | -7.49% | 91.51 | 98.92 | 7 |
| 4 | TX TXSHGR 4.00 05/15/2049 | 4.000% | 05/15/49 | -6.89% | 90.78 | 97.50 | 13 |
| 5 | TX TBLSCD 4.00 02/15/2050 | 4.000% | 02/15/50 | -6.53% | 90.43 | 96.75 | 12 |
| 6 | GU GMSUTL 5.00 01/01/2050 | 5.000% | 01/01/50 | -6.38% | 95.89 | 102.42 | 3 |
| 7 | MS HARUTL 1.50 07/01/2030 | 1.500% | 07/01/30 | -6.10% | 76.53 | 81.50 | 3 |
| 8 | MN MNSHGR 4.00 03/01/2048 | 4.000% | 03/01/48 | -6.07% | 88.39 | 94.11 | 3 |
| 9 | CO GRAGEN 4.13 03/01/2054 | 4.125% | 03/01/54 | -5.81% | 86.95 | 92.31 | 7 |
| 10 | CA CASMED 4.00 11/15/2047 | 4.000% | 11/15/47 | -5.57% | 88.36 | 93.57 | 13 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 4/17/25-4/25/25
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | KY | -27 bps | 3.93% | 4.19% |
| 2 | VT | -22 bps | 3.78% | 4.00% |
| 3 | MD | -22 bps | 3.78% | 4.01% |
| 4 | AK | -14 bps | 3.90% | 4.04% |
| 5 | NM | -12 bps | 3.72% | 3.84% |
| 6 | GA | -12 bps | 3.94% | 4.05% |
| 7 | RI | -12 bps | 3.97% | 4.09% |
| 8 | HI | -10 bps | 4.24% | 4.34% |
| 9 | VA | -10 bps | 3.89% | 3.99% |
| 10 | NJ | -8 bps | 3.96% | 4.04% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 4/17/25-4/25/25
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | AR | 31 bps | 4.54% | 4.23% |
| 2 | MO | 28 bps | 4.41% | 4.12% |
| 3 | ND | 27 bps | 4.20% | 3.93% |
| 4 | DC | 21 bps | 4.13% | 3.92% |
| 5 | OR | 20 bps | 4.31% | 4.10% |
| 6 | OK | 14 bps | 4.00% | 3.86% |
| 7 | NE | 14 bps | 3.90% | 3.77% |
| 8 | AL | 13 bps | 4.21% | 4.08% |
| 9 | OH | 12 bps | 4.09% | 3.97% |
| 10 | IL | 11 bps | 4.47% | 4.36% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 4/17/25-4/25/25 (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 4/17/25-4/25/25 (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 4/17/25-4/25/25 (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 4/17/25-4/25/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 4/17/25 vs. the week ending 4/25/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | NYC TRANSITIONAL E-1 | 5.000% | 11/01/41 | 41 | 159 | 118 | 288% |
| 2 | LAS VEGAS CONVENTION | 4.000% | 07/01/49 | 38 | 145 | 107 | 282% |
| 3 | DASNY-A-REF | 5.000% | 05/01/34 | 63 | 165 | 102 | 162% |
| 4 | MISSISSIPPI ST-B | 4.000% | 10/01/36 | 21 | 116 | 95 | 452% |
| 5 | LANCASTER CO SD | 4.000% | 03/01/36 | 10 | 97 | 87 | 870% |
| 6 | FONTANA PUB FIN AUTH | 4.000% | 11/01/51 | 35 | 122 | 87 | 249% |
| 7 | SAN FRANCISCO CITY-B | 5.000% | 05/01/52 | 33 | 113 | 80 | 242% |
| 8 | MASSACHUSETTS ST BAY | 5.000% | 07/01/45 | 44 | 123 | 79 | 180% |
| 9 | NY TRANSITIONAL FIN-D | 5.000% | 05/01/37 | 54 | 131 | 77 | 143% |
| 10 | UNIV OF CALIFORNIA-BH | 4.000% | 05/15/39 | 59 | 136 | 77 | 131% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 4/17/25 – 4/25/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MA DEV FIN AGY-B | 5.000% | 02/15/34 | 51 |
| 2 | CALIFORNIA ST | 4.125% | 03/01/49 | 48 |
| 3 | NYC MUNI WTR FIN-AA1 | 5.250% | 06/15/53 | 46 |
| 4 | NYC TRANSITIONAL-H-1 | 5.000% | 11/01/38 | 45 |
| 5 | NYC TRANSITIONAL-H-1 | 5.000% | 11/01/40 | 45 |
| 6 | NYC TRANSITIONAL-F-1 | 5.000% | 11/01/38 | 45 |
| 7 | ROCHESTER-SER A | 4.375% | 11/15/53 | 45 |
| 8 | CT ST HLTH & EDU-U-RE | 5.000% | 07/01/33 | 44 |
| 9 | NYC TRANSITIONAL-H-1 | 5.000% | 11/01/50 | 44 |
| 10 | HAMPTON ROADS TRANSPR | 4.000% | 07/01/57 | 44 |
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