Municipal Bond Market Summary – Week Ending 1/15/21
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Municipal Bond Market Summary: Week Ending 1/15/21
Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 Muni Bond “Winners” based on price movements between 1/8/21 – 1/15/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MET TRANS AUTH | 5.87% | 11/15/39 | 8.69% | 128.00 | 117.76 |
| 2 | NJ ST TRANSN TR FD | 0.00% | 12/15/34 | 7.36% | 69.52 | 64.75 |
| 3 | OHIO ST UNIV-A-TXBL | 4.80% | 06/01/11 | 5.12% | 139.97 | 133.15 |
| 4 | BASSETT USD-CABS-C | 0.00% | 08/01/33 | 4.86% | 78.73 | 75.08 |
| 5 | ILLINOIS ST | 5.00% | 12/01/34 | 4.61% | 118.08 | 112.88 |
| 6 | MET TRANS AUTH-B-REF | 5.00% | 11/15/28 | 3.32% | 124.02 | 120.03 |
| 7 | PR ELEC | 5.25% | 07/01/19 | 3.26% | 79.97 | 77.45 |
| 8 | BERKS CO IDA HLTH-REF | 5.00% | 11/01/50 | 2.99% | 109.42 | 106.24 |
| 9 | NAUGATUCK-TAXABLE-AGM | 5.91% | 06/01/33 | 2.89% | 133.08 | 129.34 |
| 10 | CALIFORNIA ST DEPT OF | 1.79% | 12/01/35 | 2.88% | 100.08 | 97.28 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 1/8/21 – 1/15/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SAN FRANCISCO-TAX | 5.75% | 08/01/37 | -4.32% | 146.18 | 152.77 |
| 2 | MIDDLETOWN OH CITY SD | 3.55% | 12/01/48 | -4.14% | 109.60 | 114.33 |
| 3 | SANTA CLARA VY WTR | 5.31% | 06/01/35 | -3.99% | 121.89 | 126.96 |
| 4 | MONTCLAIR REDEV-III-B | 6.00% | 09/01/27 | -3.73% | 118.11 | 122.69 |
| 5 | UNIV OF CALIFORNIA-BF | 2.30% | 05/15/37 | -3.44% | 100.60 | 104.18 |
| 6 | RIALTO REDEV-TXB-B | 7.50% | 09/01/28 | -3.27% | 131.81 | 136.27 |
| 7 | LOUISIANA ST -REF-C-1 | 1.86% | 06/01/32 | -3.14% | 101.15 | 104.44 |
| 8 | PALMDALE ELEM SD-A | 0.00% | 08/01/36 | -2.97% | 70.22 | 72.37 |
| 9 | NEW YORK CITY -A-3 | 4.00% | 08/01/35 | -2.70% | 121.94 | 125.32 |
| 10 | COLTON SD ELECTION-C | 0.00% | 02/01/38 | -2.27% | 68.55 | 70.15 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 1/8/21 – 1/15/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DC | -38 bps | 1.30% | 1.68% |
| 2 | GA | -34 bps | 0.93% | 1.27% |
| 3 | AR | -25 bps | 1.94% | 2.19% |
| 4 | NY | -22 bps | 1.56% | 1.78% |
| 5 | WI | -17 bps | 1.27% | 1.44% |
| 6 | MN | -17 bps | 1.40% | 1.57% |
| 7 | UT | -16 bps | 1.11% | 1.28% |
| 8 | IN | -14 bps | 1.60% | 1.74% |
| 9 | NJ | -10 bps | 1.76% | 1.86% |
| 10 | MO | -9 bps | 1.45% | 1.55% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 1/8/21 – 1/15/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | CO | 56 bps | 1.69% | 1.13% |
| 2 | PA | 32 bps | 1.84% | 1.52% |
| 3 | AL | 30 bps | 1.71% | 1.41% |
| 4 | IA | 28 bps | 1.80% | 1.52% |
| 5 | WA | 21 bps | 1.73% | 1.52% |
| 6 | OH | 18 bps | 1.97% | 1.79% |
| 7 | KS | 17 bps | 2.20% | 2.03% |
| 8 | NC | 17 bps | 1.08% | 0.91% |
| 9 | CT | 14 bps | 1.86% | 1.72% |
| 10 | LA | 14 bps | 1.42% | 1.28% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 1/8/21 – 1/15/21 (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 1/8/21 – 1/15/21 (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 1/8/21 – 1/15/21 (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 1/8/21 – 1/15/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 1/8/21 vs. the week ending 1/15/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | FL MUNI PWR AGY-A-REF | 5.00% | 10/01/25 | 50 | 118 | 68 | 136% |
| 2 | SOUTH CAROLINA ST PUB | 4.00% | 12/01/40 | 38 | 95 | 57 | 150% |
| 3 | CHULA VISTA ELEM SD | 0.00% | 08/01/23 | 7 | 63 | 56 | 800% |
| 4 | LAS VEGAS VLY WTR DT | 5.00% | 06/01/27 | 58 | 114 | 56 | 97% |
| 5 | WASHINGTON MD SUB SAN | 3.00% | 06/01/27 | 46 | 102 | 56 | 122% |
| 6 | NEW YORK NY-B-1 | 4.00% | 10/01/40 | 13 | 68 | 55 | 423% |
| 7 | ARIZONA BRD OF RGTS | 5.00% | 07/01/39 | 41 | 93 | 52 | 127% |
| 8 | WASHINGTON MET AREA-A | 5.00% | 07/15/36 | 10 | 62 | 52 | 520% |
| 9 | NEW YORK ST DORM AUTH | 4.00% | 03/15/46 | 9 | 61 | 52 | 578% |
| 10 | BROOKHAVEN DEV AUTH-A | 4.00% | 07/01/44 | 19 | 70 | 51 | 268% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 1/8/21 – 1/15/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | UNIV OF TEXAS UNIV-A | 5.00% | 08/15/30 | 33 |
| 2 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 32 |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 32 |
| 4 | AUSTIN-A-REF | 5.00% | 11/15/50 | 26 |
| 5 | NEW JERSEY ST-A | 4.00% | 06/01/30 | 26 |
| 6 | NEW JERSEY ST-A | 3.00% | 06/01/32 | 25 |
| 7 | CONNECTICUT ST -A | 2.00% | 01/15/41 | 25 |
| 8 | CALIFORNIA ST | 5.00% | 03/01/31 | 25 |
| 9 | LOS ANGELES WTR PWR-A | 5.00% | 07/01/45 | 24 |
| 10 | MASSACHUSETTS ST | 5.00% | 11/01/45 | 24 |
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