Municipals
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Municipal Bond Market Summary:
Week Ending 9/5/25
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 8/29/25-9/5/25
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
1 | IN FIN AUTH -TXBL-A | 3.026% | 03/01/44 | 7.08% | 71.79 | 67.04 | 3 |
2 | PA ECON DEV-A-BAM | 4.000% | 11/15/42 | 6.22% | 91.19 | 85.85 | 7 |
3 | TROY BOE-WTS | 4.750% | 12/01/42 | 4.47% | 99.33 | 95.08 | 2 |
4 | HIGHER EDUCTNL FACS-A | 4.000% | 12/01/50 | 4.26% | 83.85 | 80.42 | 9 |
5 | CAMBRIAN SD | 4.000% | 08/01/45 | 4.06% | 94.76 | 91.07 | 2 |
6 | CHICAGO -A-AMT | 4.500% | 01/01/48 | 3.95% | 93.19 | 89.65 | 9 |
7 | MONTEREY USD-C | 4.000% | 08/01/45 | 3.86% | 93.25 | 89.78 | 7 |
8 | KENTUCKY BOND DEV COR | 4.000% | 09/01/48 | 3.71% | 86.55 | 83.45 | 2 |
9 | MIDDLEBURG HEIGHTS OH | 4.074% | 08/01/47 | 3.67% | 69.82 | 67.35 | 2 |
10 | PARAMOUNT USD | 3.272% | 08/01/51 | 3.50% | 71.26 | 68.85 | 2 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 8/29/25-9/5/25
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
1 | TX DALUTL 4.25 10/01/2051 | 4.250% | 10/01/51 | -6.13% | 90.34 | 96.24 | 12 |
2 | CA BAYTRN 4.13 04/01/2054 | 4.125% | 04/01/54 | -4.82% | 89.52 | 94.05 | 17 |
3 | KY KSYEDU 4.00 06/01/2051 | 4.000% | 06/01/51 | -3.91% | 78.41 | 81.59 | 3 |
4 | IL ILS 4.25 10/01/2045 | 4.250% | 10/01/45 | -1.94% | 86.94 | 88.66 | 2 |
5 | PA PASSFH 5.15 10/01/2050 | 5.150% | 10/01/50 | -1.92% | 99.29 | 101.24 | 24 |
6 | VA RIC 4.00 03/01/2044 | 4.000% | 03/01/44 | -1.81% | 92.07 | 93.76 | 2 |
7 | TX CHMGEN 2.50 12/01/2038 | 2.500% | 12/01/38 | -1.72% | 75.65 | 76.97 | 2 |
8 | NM NMSMED 4.00 08/01/2046 | 4.000% | 08/01/46 | -1.66% | 84.79 | 86.22 | 2 |
9 | TX TRAUTL 3.00 08/15/2039 | 3.000% | 08/15/39 | -1.61% | 80.09 | 81.39 | 2 |
10 | CA SLZSCD 4.00 08/01/2041 | 4.000% | 08/01/41 | -1.60% | 93.40 | 94.92 | 3 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 8/29/25-9/5/25
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | MS | -32 bps | 3.95% | 4.27% |
2 | SD | -25 bps | 3.97% | 4.22% |
3 | MA | -23 bps | 3.84% | 4.07% |
4 | VT | -20 bps | 3.96% | 4.16% |
5 | AK | -20 bps | 4.00% | 4.20% |
6 | NV | -19 bps | 3.77% | 3.96% |
7 | WV | -19 bps | 4.12% | 4.31% |
8 | ID | -17 bps | 4.11% | 4.28% |
9 | NE | -15 bps | 3.91% | 4.05% |
10 | UT | -14 bps | 3.97% | 4.12% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 8/29/25-9/5/25
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | DC | 3 bps | 4.21% | 4.18% |
2 | CO | 1 bps | 4.02% | 4.01% |
3 | OK | -1 bps | 4.10% | 4.11% |
4 | AZ | -2 bps | 3.97% | 3.99% |
5 | IN | -2 bps | 4.01% | 4.03% |
6 | MT | -2 bps | 4.15% | 4.17% |
7 | NH | -3 bps | 3.97% | 4.00% |
8 | WA | -4 bps | 4.05% | 4.09% |
9 | RI | -4 bps | 4.02% | 4.06% |
10 | NJ | -4 bps | 3.88% | 3.93% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/29/25-9/5/25 (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 8/29/25-9/5/25 (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 8/29/25-9/5/25 (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 8/29/25-9/5/25

Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/29/25 vs. the week ending 9/5/25
RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
1 | SAN ANTONIO-D-REF-REV | 5.250% | 02/01/49 | 64 | 187 | 123 | 192% |
2 | FAIRFIELD ISD | 5.250% | 08/15/55 | 86 | 177 | 91 | 106% |
3 | LOS ANGELES UNIF-A-1 | 5.000% | 07/01/49 | 144 | 224 | 80 | 56% |
4 | MIAMI-DADE CO-A | 4.000% | 07/01/49 | 61 | 140 | 79 | 130% |
5 | CALIFORNIA ST HLTH FA | 4.000% | 08/15/50 | 50 | 129 | 79 | 158% |
6 | NYC TRANSIT FIN-F-1 | 5.000% | 02/01/48 | 113 | 189 | 76 | 67% |
7 | MIDLOTHIAN | 5.000% | 08/15/36 | 18 | 89 | 71 | 394% |
8 | MIDLOTHIAN | 5.000% | 08/15/35 | 17 | 86 | 69 | 406% |
9 | GRAND PRAIRIE-A | 5.000% | 02/15/37 | 27 | 94 | 67 | 248% |
10 | GRAND PRAIRIE-A | 5.000% | 02/15/36 | 27 | 93 | 66 | 244% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/29/25-9/5/25
RANK | TRANCHE | COUPON | MATURITY | DEALERS |
1 | NY ST TWY AUTH-A | 5.000% | 03/15/49 | 52 |
2 | MA ST BAY AUTH-SER B | 4.750% | 07/01/55 | 51 |
3 | PARKER CO JUNIOR CLG | 5.250% | 08/01/50 | 51 |
4 | PARKER CO JUNIOR CLG | 5.000% | 08/01/55 | 50 |
5 | HIDALGO CO CTFS OBLIG | 5.000% | 08/15/55 | 50 |
6 | VENUS ISD-REF | 5.250% | 08/15/50 | 48 |
7 | GLENDALE | 5.000% | 02/01/52 | 48 |
8 | LOS ANGELES UNIF-A-1 | 5.000% | 07/01/49 | 48 |
9 | TRIB BRIDGE-A-1 | 5.000% | 11/15/47 | 47 |
10 | TN ENERGY ACQ CORP-A | 5.000% | 12/01/35 | 46 |
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