Municipals
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Municipal Bond Market Summary:
Week Ending 3/11/22
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 3/4/22 – 3/11/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | RI SOU 3 03/01/2040 | 3.00% | 03/01/40 | 0.94% | 109.18 | 108.16 |
| 2 | NY NYC 5 10/01/2036 | 5.00% | 10/01/36 | 0.84% | 117.64 | 116.65 |
| 3 | VA VASFAC 5 08/01/2027 | 5.00% | 08/01/27 | 0.72% | 112.50 | 111.69 |
| 4 | CA SFOWTR 2.83 11/01/2041 | 2.83% | 11/01/41 | 0.71% | 93.00 | 92.35 |
| 5 | TX SANUTL 4 02/01/2039 | 4.00% | 02/01/39 | 0.63% | 114.37 | 113.65 |
| 6 | TX KLNSCD 4 08/01/2033 | 4.00% | 08/01/33 | 0.58% | 107.56 | 106.94 |
| 7 | TX HARTRN 5 11/01/2025 | 5.00% | 11/01/25 | 0.54% | 112.67 | 112.07 |
| 8 | OH OHSWTR 5 12/01/2025 | 5.00% | 12/01/25 | 0.53% | 113.06 | 112.47 |
| 9 | PA PAS 1.45 08/01/2027 | 1.45% | 08/01/27 | 0.48% | 95.94 | 95.49 |
| 10 | DC DCTTRN 5 07/15/2024 | 5.00% | 07/15/24 | 0.43% | 108.53 | 108.07 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 3/4/22 – 3/11/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | DC METAPT 2.75 10/01/2053 | 2.75% | 10/01/53 | -5.80% | 86.57 | 91.90 |
| 2 | NH NHMBBK 2.5 02/15/2047 | 2.50% | 02/15/47 | -5.77% | 87.14 | 92.47 |
| 3 | TX UNIHGR 3.35 08/15/2047 | 3.35% | 08/15/47 | -5.68% | 102.04 | 108.18 |
| 4 | VA ISL 3 07/15/2045 | 3.00% | 07/15/45 | -5.62% | 98.84 | 104.72 |
| 5 | CA ANVHGR 3 08/01/2050 | 3.00% | 08/01/50 | -5.59% | 96.15 | 101.84 |
| 6 | MA HOL 2.25 09/01/2040 | 2.25% | 09/01/40 | -5.58% | 87.51 | 92.68 |
| 7 | NY NYCMFH 2.45 11/01/2041 | 2.45% | 11/01/41 | -5.46% | 89.66 | 94.84 |
| 8 | PA PASTRN 0 01/01/2040 | 0.00% | 01/01/40 | -5.44% | 54.19 | 57.31 |
| 9 | OR LANSCD 0 06/15/2043 | 0.00% | 06/15/43 | -5.39% | 52.98 | 56.00 |
| 10 | CA SOQWTR 1.82 03/01/2032 | 1.83% | 03/01/32 | -5.37% | 91.95 | 97.17 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 3/4/22 – 3/11/22
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | DC | -28 bps | 2.69% | 2.97% |
| 2 | HI | -11 bps | 2.56% | 2.67% |
| 3 | MA | -7 bps | 2.61% | 2.69% |
| 4 | NC | -5 bps | 2.06% | 2.11% |
| 5 | MN | 0 bps | 2.27% | 2.28% |
| 6 | CO | 0 bps | 2.50% | 2.50% |
| 7 | CT | 12 bps | 2.68% | 2.56% |
| 8 | MI | 13 bps | 2.65% | 2.52% |
| 9 | MD | 14 bps | 2.30% | 2.17% |
| 10 | WI | 15 bps | 2.69% | 2.54% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 3/4/22 – 3/11/22
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | TN | 44 bps | 2.51% | 2.07% |
| 2 | PA | 42 bps | 2.89% | 2.48% |
| 3 | AZ | 38 bps | 2.67% | 2.29% |
| 4 | OH | 31 bps | 2.39% | 2.09% |
| 5 | DE | 31 bps | 2.29% | 1.99% |
| 6 | MS | 30 bps | 2.54% | 2.24% |
| 7 | GA | 29 bps | 2.50% | 2.20% |
| 8 | SC | 29 bps | 2.63% | 2.34% |
| 9 | MO | 29 bps | 2.61% | 2.32% |
| 10 | FL | 27 bps | 2.48% | 2.21% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 3/4/22 – 3/11/22 (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 3/4/22 – 3/11/22 (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 3/4/22 – 3/11/22 (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 3/4/22 – 3/11/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 3/4/22 vs. the week ending 3/11/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | DC METAPT 5 10/01/2028 | 5.00% | 10/01/28 | 5 | 59 | 54 | 1080% |
| 2 | CA LOSSCD 5 07/01/2028 | 5.00% | 07/01/28 | 15 | 68 | 53 | 353% |
| 3 | MI ADVEDU 3.88 11/01/2029 | 3.88% | 11/01/29 | 9 | 60 | 51 | 567% |
| 4 | FL FLSDEV 5 06/15/2051 | 5.00% | 06/15/51 | 9 | 60 | 51 | 567% |
| 5 | WI PUBEDU 5 06/15/2041 | 5.00% | 06/15/41 | 6 | 55 | 49 | 817% |
| 6 | WI PUBEDU 5 06/15/2056 | 5.00% | 06/15/56 | 6 | 55 | 49 | 817% |
| 7 | WI PUBEDU 5 06/15/2051 | 5.00% | 06/15/51 | 7 | 55 | 48 | 686% |
| 8 | WI PUBEDU 4.25 06/15/2031 | 4.25% | 06/15/31 | 7 | 55 | 48 | 686% |
| 9 | WI PUBFIN 5 12/01/2045 | 5.00% | 12/01/45 | 12 | 60 | 48 | 400% |
| 10 | CA UNVHGR 5 05/15/2032 | 5.00% | 05/15/32 | 5 | 51 | 46 | 920% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 3/4/22 – 3/11/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NY NYCGEN 4 02/01/2046 | 4.00% | 02/01/46 | 33 |
| 2 | NY NYCUTL 5 06/15/2052 | 5.00% | 06/15/52 | 31 |
| 3 | FL ORAMED 4 10/01/2052 | 4.00% | 10/01/52 | 30 |
| 4 | NY TRBTRN 4 05/15/2051 | 4.00% | 05/15/51 | 29 |
| 5 | WA WAS 5 02/01/2046 | 5.00% | 02/01/46 | 29 |
| 6 | CA LOSUTL 5 07/01/2051 | 5.00% | 07/01/51 | 28 |
| 7 | CA SFOTRN 3 08/01/2050 | 3.00% | 08/01/50 | 27 |
| 8 | AZ SALAGR 5 01/01/2032 | 5.00% | 01/01/32 | 27 |
| 9 | TX WACSCD 4 08/15/2047 | 4.00% | 08/15/47 | 26 |
| 10 | CA CASEDU 5 05/01/2049 | 5.00% | 05/01/49 | 24 |
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