Municipals
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Municipal Bond Market Summary:
Week Ending 7/18/25
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 7/11/25-7/18/25
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
1 | WINDSOR LOCKS TWN | 4.000% | 02/01/44 | 5.05% | 98.67 | 93.93 | 2 |
2 | SC PUB SVC AUTH-B-BAM | 4.000% | 12/01/39 | 4.59% | 99.39 | 95.03 | 2 |
3 | CVI-HTA 98 SUB CLAIM | 0.000% | 11/01/51 | 3.04% | 31.07 | 30.15 | 3 |
4 | FAIRFAX CNTY VA INDL | 4.125% | 05/15/54 | 2.42% | 90.38 | 88.24 | 24 |
5 | SPRING W MUD | 3.250% | 09/01/37 | 2.25% | 89.11 | 87.16 | 3 |
6 | HAWTHORNE CA PENSN OB | 3.698% | 06/01/44 | 2.09% | 76.65 | 75.08 | 21 |
7 | BROOKHAVEN DEV AUTH-A | 4.000% | 07/01/49 | 1.89% | 87.71 | 86.08 | 9 |
8 | SAPULPA MUNI AUTH-REF | 3.024% | 04/01/43 | 1.77% | 71.57 | 70.33 | 2 |
9 | WILLIS-CTFS OBLIG | 3.750% | 08/01/42 | 1.66% | 83.89 | 82.52 | 2 |
10 | DESERT WTR AGY-REF | 3.000% | 05/01/37 | 1.46% | 86.16 | 84.92 | 3 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 7/11/25-7/18/25
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
1 | NY NYTTRN 5.38 06/30/2060 | 5.375% | 06/30/60 | -5.16% | 93.80 | 98.90 | 15 |
2 | WA OLVUTL 3.13 04/01/2041 | 3.125% | 04/01/41 | -5.00% | 77.37 | 81.45 | 2 |
3 | TX TX ELPMED 10.6 04/01/2012 4.13 02/15/2049 | 4.125% | 02/15/49 | -4.84% | 90.00 | 94.58 | 8 |
4 | MD BALTRN 4.00 07/01/2045 | 4.000% | 07/01/45 | -4.61% | 87.17 | 91.38 | 11 |
5 | TX NWCSCD 4.00 02/15/2049 | 4.000% | 02/15/49 | -4.52% | 86.25 | 90.33 | 4 |
6 | CA SDGEDU 4.00 07/01/2050 | 4.000% | 07/01/50 | -4.14% | 86.29 | 90.02 | 2 |
7 | OH MDHMED 4.07 08/01/2047 | 4.074% | 08/01/47 | -4.07% | 66.49 | 69.31 | 2 |
8 | MD WASUTL 4.00 06/01/2050 | 4.000% | 06/01/50 | -4.06% | 85.62 | 89.24 | 2 |
9 | TX DALTRN 4.00 12/01/2051 | 4.000% | 12/01/51 | -3.95% | 83.14 | 86.56 | 3 |
10 | TX HRZUTL 4.00 02/01/2054 | 4.000% | 02/01/54 | -3.89% | 82.90 | 86.26 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 7/11/25-7/18/25
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | AR | -3 bps | 4.12% | 4.15% |
2 | OK | 2 bps | 3.86% | 3.84% |
3 | MO | 4 bps | 4.16% | 4.11% |
4 | WV | 4 bps | 3.79% | 3.74% |
5 | IA | 4 bps | 4.12% | 4.07% |
6 | ND | 7 bps | 3.77% | 3.70% |
7 | WI | 8 bps | 3.90% | 3.83% |
8 | MD | 8 bps | 3.71% | 3.63% |
9 | TN | 8 bps | 3.98% | 3.90% |
10 | ME | 8 bps | 3.91% | 3.83% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 7/11/25-7/18/25
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | VT | 36 bps | 4.00% | 3.65% |
2 | DC | 33 bps | 4.12% | 3.79% |
3 | GA | 32 bps | 4.16% | 3.83% |
4 | DE | 28 bps | 3.76% | 3.48% |
5 | SD | 26 bps | 4.03% | 3.77% |
6 | RI | 22 bps | 3.97% | 3.74% |
7 | FL | 21 bps | 4.21% | 4.00% |
8 | NM | 20 bps | 3.77% | 3.56% |
9 | CA | 20 bps | 4.18% | 3.99% |
10 | VA | 19 bps | 3.98% | 3.79% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 7/11/25-7/18/25 (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 7/11/25-7/18/25 (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 7/11/25-7/18/25 (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 7/11/25-7/18/25

Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 7/11/25 vs. the week ending 7/18/25
RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
1 | CLARK CO-REV-REF | 4.000% | 07/01/44 | 11 | 106 | 95 | 864% |
2 | MECKLENBURG CO-B | 5.000% | 02/01/38 | 12 | 104 | 92 | 767% |
3 | REGENTS OF UNIV CA-BZ | 5.000% | 05/15/41 | 19 | 106 | 87 | 458% |
4 | NEW YORK-G-G-1 | 5.000% | 02/01/29 | 5 | 89 | 84 | 1680% |
5 | NYC TRANSITIONAL-C-1 | 5.000% | 05/01/44 | 59 | 140 | 81 | 137% |
6 | N TX TOLLWY-B-REF | 5.000% | 01/01/26 | 5 | 85 | 80 | 1600% |
7 | MO HLTH & EDUCTNL-A | 5.000% | 04/01/36 | 34 | 114 | 80 | 235% |
8 | MIAMI-DADE CO-A-REF | 5.000% | 07/01/37 | 48 | 128 | 80 | 167% |
9 | NY TRANS FIN AUTH-B | 5.250% | 05/01/50 | 44 | 119 | 75 | 170% |
10 | IL FIN AUTH-B-REF | 5.000% | 04/01/27 | 10 | 85 | 75 | 750% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 7/11/25-7/18/25
RANK | TRANCHE | COUPON | MATURITY | DEALERS |
1 | SAN FRANCISCO PUB-D | 5.000% | 11/01/55 | 60 |
2 | PA ST TRNPK-B | 5.000% | 12/01/48 | 51 |
3 | SEATTLE MUNI-REF-REV | 5.250% | 02/01/55 | 51 |
4 | CA INFRA & ECON DEV | 5.000% | 05/15/50 | 47 |
5 | FL ST TRANSPRTN-B | 5.000% | 07/01/55 | 46 |
6 | TARRANT CNTY TX CULTU | 5.000% | 11/15/51 | 45 |
7 | IL ST TOLL HWY -A-REV | 5.000% | 01/01/39 | 45 |
8 | PENNSYLVANIA CMWLTH-A | 5.000% | 08/15/34 | 44 |
9 | NJ TPK AUTH-B | 5.000% | 01/01/34 | 44 |
10 | SANTA MONICA-MALIBU-A | 5.000% | 08/01/54 | 42 |
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