Municipals
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Municipal Bond Market Summary:
Week Ending 10/2/20
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 9/25/20 – 10/2/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | FRANKLIN-B | 5.00% | 07/01/31 | 4.52% | 122.73 | 117.42 |
| 2 | PR ELEC | 4.25% | 07/01/20 | 3.97% | 68.67 | 66.05 |
| 3 | NEW HOPE CULT EDU-REF | 5.00% | 11/01/25 | 3.66% | 114.53 | 110.48 |
| 4 | ANTELOPE VY HSD-CAB-B | 0.00% | 08/01/27 | 2.99% | 95.00 | 92.24 |
| 5 | CHICAGO IL O’HARE INT | 5.25% | 01/01/28 | 2.67% | 122.29 | 119.11 |
| 6 | VICTOR VLY TRN-REF | 5.00% | 07/01/30 | 2.27% | 120.80 | 118.12 |
| 7 | MISSOURI ST HLTH & ED | 5.00% | 02/01/30 | 2.03% | 113.25 | 111.00 |
| 8 | LAREDO CLG-REF-TXBL | 2.64% | 08/01/30 | 1.93% | 108.11 | 106.06 |
| 9 | GILROY CA PUBLIC FACS | 5.00% | 11/01/32 | 1.71% | 134.97 | 132.70 |
| 10 | LA UNIV A&M-A-REF | 5.00% | 07/01/29 | 1.70% | 120.27 | 118.26 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 9/25/20 – 10/2/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SCOTTSDALE-B | 2.90% | 07/01/39 | -4.79% | 104.75 | 110.01 |
| 2 | PR COMWLTH SER A | 5.25% | 07/01/31 | -3.98% | 65.29 | 68.00 |
| 3 | CALIFORNIA | 3.00% | 10/01/34 | -3.57% | 111.39 | 115.52 |
| 4 | MET TRAN AUTH-C1-REF | 3.70% | 11/15/34 | -3.06% | 95.58 | 98.60 |
| 5 | MIAMI DADE CO -D -REV | 1.70% | 04/01/33 | -2.73% | 97.27 | 100.00 |
| 6 | NEW YORK-H-HA | 5.00% | 01/01/31 | -2.64% | 127.00 | 130.44 |
| 7 | DAVIS CO UT MUNI BLDG | 2.00% | 11/01/34 | -2.58% | 100.87 | 103.54 |
| 8 | UNIV OF DELAWARE DE | 5.00% | 11/01/40 | -2.42% | 148.43 | 152.11 |
| 9 | JERSEY CITY WTR TXB-B | 5.47% | 05/15/27 | -2.31% | 115.96 | 118.71 |
| 10 | KS CITY LAND-B | 5.00% | 02/01/40 | -2.26% | 103.08 | 105.46 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 9/25/20 – 10/2/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | VA | -32 bps | 1.09% | 1.40% |
| 2 | CT | -30 bps | 1.88% | 2.18% |
| 3 | NE | -24 bps | 1.50% | 1.74% |
| 4 | MO | -23 bps | 1.63% | 1.87% |
| 5 | CO | -20 bps | 1.68% | 1.87% |
| 6 | WA | -20 bps | 1.47% | 1.67% |
| 7 | MS | -17 bps | 1.36% | 1.53% |
| 8 | DC | -16 bps | 1.57% | 1.73% |
| 9 | MI | -12 bps | 1.72% | 1.85% |
| 10 | IL | -11 bps | 2.92% | 3.03% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 9/25/20 – 10/2/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | IN | 69 bps | 2.36% | 1.67% |
| 2 | MD | 25 bps | 1.47% | 1.22% |
| 3 | FL | 23 bps | 1.57% | 1.35% |
| 4 | UT | 19 bps | 1.21% | 1.02% |
| 5 | AL | 18 bps | 1.70% | 1.51% |
| 6 | WI | 17 bps | 1.83% | 1.66% |
| 7 | NY | 17 bps | 1.76% | 1.59% |
| 8 | AZ | 17 bps | 1.71% | 1.54% |
| 9 | HI | 16 bps | 1.58% | 1.41% |
| 10 | KS | 16 bps | 1.80% | 1.64% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 9/25/20 – 10/2/20 (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 9/25/20 – 10/2/20 (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 9/25/20 – 10/2/20 (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 9/25/20 – 10/2/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 9/25/20 vs. the week ending 10/2/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | OREGON ST DEPT OF TRA | 5.00% | 11/15/39 | 13 | 60 | 47 | 362% |
| 2 | LONG ISLAND PWR AUTH | 5.00% | 09/01/35 | 5 | 52 | 47 | 940% |
| 3 | MICHIGAN ST FIN AUTH | 4.00% | 11/15/35 | 20 | 62 | 42 | 210% |
| 4 | MONTGOMERY IDA-REF | 5.00% | 11/15/25 | 13 | 55 | 42 | 323% |
| 5 | SAN DIEGO WTR AUTH-A | 1.95% | 05/01/34 | 30 | 71 | 41 | 137% |
| 6 | OROVILLE CA REVENUE | 5.25% | 04/01/39 | 4 | 45 | 41 | 1025% |
| 7 | MET TRANSPRTN -A-1 | 4.00% | 11/15/46 | 8 | 49 | 41 | 513% |
| 8 | BALMORHEA ISD-A | 4.00% | 02/15/50 | 9 | 50 | 41 | 456% |
| 9 | CALIFORNIA ST | 5.00% | 03/01/31 | 36 | 76 | 40 | 111% |
| 10 | BALMORHEA ISD-A | 4.00% | 02/15/46 | 6 | 45 | 39 | 650% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 9/25/20 – 10/2/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 31 |
| 2 | CALIFORNIA ST | 5.00% | 11/01/30 | 31 |
| 3 | NYC TRANSITIONAL FIN | 4.00% | 11/01/34 | 27 |
| 4 | CALIFORNIA ST | 3.00% | 11/01/41 | 26 |
| 5 | CALIFORNIA ST | 4.00% | 11/01/50 | 23 |
| 6 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/37 | 23 |
| 7 | WASHINGTON ST -B | 5.00% | 06/01/43 | 22 |
| 8 | CALIFORNIA ST | 4.00% | 11/01/34 | 22 |
| 9 | HENNEPIN CO -A | 5.00% | 12/01/32 | 22 |
| 10 | HENNEPIN CO -C | 5.00% | 12/15/30 | 22 |
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