Municipals
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Municipal Bond Market Summary:
Week Ending 2/11/22
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 2/4/22 – 2/11/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | NC UNCHGR 3.33 12/01/2036 | 3.33% | 12/01/36 | 1.68% | 105.45 | 103.71 |
| 2 | CA CCHHSG 4 08/01/2047 | 4.00% | 08/01/47 | 1.15% | 93.73 | 92.67 |
| 3 | WA WAS 5 08/01/2035 | 5.00% | 08/01/35 | 1.14% | 127.69 | 126.25 |
| 4 | NY NYCDEV 4 02/15/2043 | 4.00% | 02/15/43 | 1.14% | 113.72 | 112.44 |
| 5 | TX SANUTL 5 02/01/2036 | 5.00% | 02/01/36 | 1.09% | 128.14 | 126.77 |
| 6 | CA CDAHSG 3.25 07/01/2056 | 3.25% | 07/01/56 | 1.03% | 88.50 | 87.59 |
| 7 | AZ MARSCD 3 07/01/2038 | 3.00% | 07/01/38 | 1.03% | 105.79 | 104.71 |
| 8 | TX CYSSCD 5 02/15/2029 | 5.00% | 02/15/29 | 0.96% | 122.86 | 121.69 |
| 9 | WA EDM 2 12/01/2040 | 2.00% | 12/01/40 | 0.93% | 91.22 | 90.38 |
| 10 | MA MASHGR 5 05/01/2033 | 5.00% | 05/01/33 | 0.92% | 132.02 | 130.81 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 2/4/22 – 2/11/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | IL MPNFAC 0 12/15/2036 | 0.00% | 12/15/36 | -5.83% | 64.25 | 68.23 |
| 2 | IN WHGFAC 3 11/01/2051 | 3.00% | 11/01/51 | -5.52% | 91.30 | 96.63 |
| 3 | MA MAS 2.38 09/01/2046 | 2.38% | 09/01/46 | -5.00% | 90.25 | 95.00 |
| 4 | TX TXSTRN 2.56 04/01/2042 | 2.56% | 04/01/42 | -4.93% | 93.59 | 98.44 |
| 5 | PA ELTSCD 2 11/15/2039 | 2.00% | 11/15/39 | -4.79% | 93.11 | 97.80 |
| 6 | TX HARUTL 2.12 04/01/2039 | 2.12% | 04/01/39 | -4.70% | 89.26 | 93.66 |
| 7 | CA CSTHGR 0 08/01/2040 | 0.00% | 08/01/40 | -4.56% | 58.06 | 60.83 |
| 8 | VA UNIHGR 3.23 09/01/2119 | 3.23% | 09/01/19 | -4.52% | 93.51 | 97.94 |
| 9 | OR ORSEDU 5.53 06/30/2028 | 5.53% | 06/30/28 | -4.45% | 108.35 | 113.39 |
| 10 | OH OHSTRN 3.22 02/15/2048 | 3.22% | 02/15/48 | -4.40% | 96.81 | 101.26 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 2/4/22 – 2/11/22
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | NH | -9 bps | 2.08% | 2.17% |
| 2 | AZ | -7 bps | 2.43% | 2.49% |
| 3 | WI | -4 bps | 2.33% | 2.37% |
| 4 | NJ | -1 bps | 2.23% | 2.24% |
| 5 | MD | 0 bps | 1.88% | 1.88% |
| 6 | LA | 0 bps | 2.29% | 2.29% |
| 7 | HI | 2 bps | 2.41% | 2.39% |
| 8 | CA | 2 bps | 2.49% | 2.47% |
| 9 | NC | 3 bps | 1.88% | 1.85% |
| 10 | OH | 5 bps | 2.15% | 2.10% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 2/4/22 – 2/11/22
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | MI | 59 bps | 2.67% | 2.09% |
| 2 | CO | 28 bps | 2.63% | 2.35% |
| 3 | MT | 24 bps | 2.14% | 1.90% |
| 4 | KS | 19 bps | 2.23% | 2.04% |
| 5 | NE | 19 bps | 2.25% | 2.07% |
| 6 | MO | 19 bps | 2.09% | 1.90% |
| 7 | GA | 18 bps | 1.96% | 1.78% |
| 8 | NV | 17 bps | 2.23% | 2.06% |
| 9 | CT | 17 bps | 2.49% | 2.32% |
| 10 | VA | 17 bps | 2.12% | 1.95% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/4/22 – 2/11/22 (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 2/4/22 – 2/11/22 (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 2/4/22 – 2/11/22 (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 2/4/22 – 2/11/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/4/22 vs. the week ending 2/11/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | WA WAS 5 02/01/2046 | 5.00% | 02/01/46 | 5 | 92 | 87 | 1740% |
| 2 | WA WAS 5 08/01/2043 | 5.00% | 08/01/43 | 38 | 100 | 62 | 163% |
| 3 | PA BUCMED 3 08/15/2053 | 3.00% | 08/15/53 | 35 | 82 | 47 | 134% |
| 4 | PA LANMED 5 11/01/2046 | 5.00% | 11/01/46 | 4 | 49 | 45 | 1125% |
| 5 | FL FLSEDU 5 06/01/2030 | 5.00% | 06/01/30 | 4 | 48 | 44 | 1100% |
| 6 | IL ILS 5 03/01/2046 | 5.00% | 03/01/46 | 23 | 63 | 40 | 174% |
| 7 | CA POWSCD 0 08/01/2034 | 0.00% | 08/01/34 | 34 | 74 | 40 | 118% |
| 8 | NY TRBTRN 5 11/15/2031 | 5.00% | 11/15/31 | 10 | 48 | 38 | 380% |
| 9 | GA CAMFAC 4 12/01/2032 | 4.00% | 12/01/32 | 15 | 53 | 38 | 253% |
| 10 | IL ILSHSG 3 04/01/2051 | 3.00% | 04/01/51 | 8 | 45 | 37 | 463% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/4/22 – 2/11/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CA LOSUTL 5 07/01/2051 | 5.00% | 07/01/51 | 28 |
| 2 | CT CTS 4 01/15/2038 | 4.00% | 01/15/38 | 26 |
| 3 | CA CASFIN 3 02/01/2046 | 3.00% | 02/01/46 | 25 |
| 4 | NY NYCDEV 4 02/15/2043 | 4.00% | 02/15/43 | 25 |
| 5 | NY NYCDEV 2.75 02/15/2044 | 2.75% | 02/15/44 | 25 |
| 6 | DC METAPT 4 10/01/2051 | 4.00% | 10/01/51 | 23 |
| 7 | AZ PIMDEV 3 04/01/2051 | 3.00% | 04/01/51 | 22 |
| 8 | TX DALTRN 4 12/01/2051 | 4.00% | 12/01/51 | 22 |
| 9 | AL BBEUTL 10/01/2052 | 4.00% | 10/01/52 | 22 |
| 10 | UT UNIHGR 4 08/01/2051 | 4.00% | 08/01/51 | 22 |
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