Municipal Bond Market Summary – Week Ending 3/19/21
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Municipal Bond Market Summary: Week Ending 3/19/21
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 3/12/21 – 3/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MERCED UN HSD-F-CABS | 0.00% | 08/01/41 | 4.98% | 59.08 | 56.28 |
| 2 | CONNECTICUT ST-A | 3.25% | 03/15/33 | 3.53% | 110.82 | 107.04 |
| 3 | PORTERVILLE | 4.00% | 08/15/35 | 2.80% | 124.75 | 121.35 |
| 4 | CA STWD CMNTYS | 5.25% | 07/01/49 | 2.70% | 102.70 | 100.00 |
| 5 | PORT AUTH OF NEW YORK | 5.00% | 11/01/32 | 2.58% | 128.48 | 125.25 |
| 6 | NYS ENVRNMNTL FACS | 3.00% | 06/15/38 | 2.12% | 110.10 | 107.81 |
| 7 | ST PUB SCH BLDG AUTH | 3.10% | 04/01/29 | 2.10% | 103.21 | 101.09 |
| 8 | BASSETT USD-CABS-C | 0.00% | 08/01/34 | 2.06% | 73.10 | 71.62 |
| 9 | GERMANTOWN | 4.00% | 08/01/28 | 2.02% | 120.43 | 118.05 |
| 10 | WILLIAMSON CNTY-REF | 5.00% | 02/15/27 | 1.98% | 126.56 | 124.10 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 3/12/21 – 3/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | OREGON ST | 2.37% | 08/01/41 | -7.10% | 95.36 | 102.65 |
| 2 | NEW ORLEANS-REF-TXBL | 2.94% | 06/01/45 | -4.10% | 91.95 | 95.89 |
| 3 | CLACKAMAS SD #46-CABS | 0.00% | 06/15/39 | -3.77% | 64.64 | 67.17 |
| 4 | HARRIS CO MUD #495 | 2.00% | 09/01/41 | -3.71% | 94.69 | 98.34 |
| 5 | GEORGIA ST-A | 5.00% | 07/01/29 | -3.68% | 131.70 | 136.73 |
| 6 | HONOLULU CITY & CNTY | 5.00% | 07/01/31 | -3.68% | 132.75 | 137.82 |
| 7 | NW HARRIS CO MUD #12 | 1.50% | 03/01/34 | -3.60% | 93.84 | 97.35 |
| 8 | BETHEL SD #52-A-CABS | 0.00% | 06/15/43 | -3.60% | 56.74 | 58.86 |
| 9 | ORLAND PK VLG-A-REF | 3.00% | 12/01/35 | -3.60% | 110.94 | 115.09 |
| 10 | LAKE HAMILTON SD #5 | 2.10% | 04/01/42 | -3.57% | 90.42 | 93.77 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 3/12/21 – 3/19/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MS | -21 bps | 1.56% | 1.77% |
| 2 | CT | -17 bps | 1.98% | 2.15% |
| 3 | AL | -7 bps | 1.83% | 1.90% |
| 4 | MO | -7 bps | 1.64% | 1.71% |
| 5 | MN | -2 bps | 1.87% | 1.89% |
| 6 | KS | 1 bps | 2.01% | 2.00% |
| 7 | SC | 1 bps | 1.54% | 1.53% |
| 8 | TN | 3 bps | 1.59% | 1.56% |
| 9 | OH | 3 bps | 1.79% | 1.76% |
| 10 | DC | 4 bps | 1.87% | 1.82% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 3/12/21 – 3/19/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NJ | 48 bps | 2.07% | 1.59% |
| 2 | LA | 40 bps | 1.96% | 1.56% |
| 3 | NH | 33 bps | 1.88% | 1.55% |
| 4 | WI | 26 bps | 1.72% | 1.46% |
| 5 | MD | 26 bps | 1.47% | 1.21% |
| 6 | NM | 25 bps | 1.51% | 1.25% |
| 7 | CO | 25 bps | 1.80% | 1.55% |
| 8 | DE | 24 bps | 1.54% | 1.30% |
| 9 | FL | 24 bps | 1.95% | 1.71% |
| 10 | MI | 22 bps | 1.90% | 1.67% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 3/12/21 – 3/19/21 (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 3/12/21 – 3/19/21 (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 3/12/21 – 3/19/21 (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 3/12/21 – 3/19/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 3/12/21 vs. the week ending 3/19/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | OHIO ST WTR DEV AUTH | 5.00% | 06/01/33 | 16 | 109 | 93 | 581% |
| 2 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 154 | 209 | 55 | 36% |
| 3 | MET TRANS AUTH-A-1 | 4.00% | 11/15/47 | 35 | 83 | 48 | 137% |
| 4 | DALLAS-FORT WORTH-A | 4.00% | 11/01/35 | 6 | 48 | 42 | 700% |
| 5 | MASSACHUSETTS ST-D | 5.00% | 07/01/26 | 11 | 52 | 41 | 373% |
| 6 | TRI-CNTY OR MET TRANS | 3.00% | 09/01/44 | 6 | 46 | 40 | 667% |
| 7 | BAY AREA TOLL AUTH-F1 | 5.00% | 04/01/56 | 6 | 43 | 37 | 617% |
| 8 | GOLDEN ST TOBACCO-A-1 | 5.00% | 06/01/30 | 5 | 40 | 35 | 700% |
| 9 | EL DORADO IRR DT COPS | 4.00% | 03/01/45 | 5 | 38 | 33 | 660% |
| 10 | TX TRANSPRTN COMM | 5.00% | 08/15/39 | 7 | 40 | 33 | 471% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 3/12/21 – 3/19/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 42 |
| 2 | NYC TRANS FIN-E-1 | 3.00% | 02/01/51 | 31 |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 29 |
| 4 | NEW JERSEY ST-A | 5.00% | 06/01/29 | 27 |
| 5 | NEW YORK NY | 4.00% | 03/01/47 | 27 |
| 6 | NEW YORK NY | 5.00% | 03/01/50 | 27 |
| 7 | NEW YORK ST URBAN DEV | 5.00% | 03/15/38 | 26 |
| 8 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 26 |
| 9 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 26 |
| 10 | CALIFORNIA ST | 5.00% | 11/01/28 | 25 |
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