Municipal Bond Market Summary – Week Ending 3/26/21
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Municipal Bond Market Summary: Week Ending 3/26/21
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 3/19/21 – 3/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SAN DIEGO CO REGL-A | 2.46% | 04/01/37 | 4.50% | 99.38 | 95.10 |
| 2 | PR COMWLTH-IMPT-A | 5.25% | 07/01/23 | 4.02% | 85.25 | 81.96 |
| 3 | UT-BABS-SER D | 4.55% | 07/01/24 | 2.98% | 106.60 | 103.52 |
| 4 | KENDALL SD 308-CABS | 0.00% | 02/01/28 | 2.47% | 92.02 | 89.80 |
| 5 | LOS ANGELES UNIF SD-C | 4.00% | 07/01/38 | 2.29% | 119.63 | 116.95 |
| 6 | CHINO CA PUBLIC FING | #VALUE! | 09/01/30 | 1.97% | 103.06 | 101.07 |
| 7 | SAN FRANCISCO CITY-G | 1.62% | 11/01/28 | 1.95% | 100.13 | 98.21 |
| 8 | FRESNO JT PWRS-TXB-C | 5.90% | 10/01/29 | 1.83% | 119.97 | 117.81 |
| 9 | GRAND RAPIDS SCHS-REF | 5.00% | 05/01/31 | 1.62% | 120.28 | 118.37 |
| 10 | ALAMEDA FING-B | 6.52% | 07/01/27 | 1.57% | 124.45 | 122.53 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 3/19/21 – 3/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UNIF FIRE SVC AREA | 2.00% | 04/01/41 | -3.19% | 93.68 | 96.76 |
| 2 | W COVINA PUB FING AUT | 3.89% | 08/01/44 | -3.15% | 101.85 | 105.16 |
| 3 | WISCONSIN ST GEN FUND | 1.49% | 05/01/29 | -3.05% | 96.79 | 99.84 |
| 4 | IMPERIAL CCD-CABS | 0.00% | 08/01/30 | -2.78% | 83.76 | 86.15 |
| 5 | PORT CHESTER VLG | 2.00% | 02/15/41 | -2.70% | 95.80 | 98.46 |
| 6 | SANTA ANA UN SD-B | 2.00% | 08/01/44 | -2.52% | 92.00 | 94.38 |
| 7 | HICKMAN MILLS C-1 | 3.00% | 03/01/38 | -2.44% | 108.48 | 111.18 |
| 8 | BRUNSWICK SD-TXB-A-FA | 6.38% | 12/01/26 | -2.39% | 118.71 | 121.61 |
| 9 | HONOLULU CITY & CNTY | 1.45% | 07/01/27 | -2.35% | 98.11 | 100.47 |
| 10 | LA PUB FACS AUTH-A1 | 4.00% | 06/01/45 | -2.08% | 110.00 | 112.34 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 3/19/21 – 3/26/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -43 bps | 1.58% | 2.01% |
| 2 | IA | -37 bps | 1.65% | 2.02% |
| 3 | WI | -22 bps | 1.49% | 1.71% |
| 4 | ID | -19 bps | 1.40% | 1.59% |
| 5 | NH | -15 bps | 1.72% | 1.87% |
| 6 | NE | -13 bps | 1.76% | 1.89% |
| 7 | CA | -12 bps | 1.93% | 2.05% |
| 8 | NC | -10 bps | 1.28% | 1.38% |
| 9 | TN | -10 bps | 1.49% | 1.59% |
| 10 | CT | -8 bps | 1.93% | 2.01% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 3/19/21 – 3/26/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | UT | 24 bps | 1.44% | 1.20% |
| 2 | MO | 23 bps | 1.88% | 1.65% |
| 3 | NJ | 16 bps | 2.24% | 2.08% |
| 4 | NV | 15 bps | 2.03% | 1.88% |
| 5 | WA | 13 bps | 1.92% | 1.79% |
| 6 | AL | 8 bps | 1.91% | 1.83% |
| 7 | DC | 8 bps | 1.94% | 1.86% |
| 8 | IN | 7 bps | 2.02% | 1.95% |
| 9 | NM | 5 bps | 1.57% | 1.52% |
| 10 | OH | 5 bps | 1.85% | 1.80% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 3/19/21 – 3/26/21 (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 3/19/21 – 3/26/21 (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 3/19/21 – 3/26/21 (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 3/19/21 – 3/26/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 3/19/21 vs. the week ending 3/26/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | GOLDEN ST TOBACCO-A-1 | 5.00% | 06/01/30 | 40 | 103 | 63 | 158% |
| 2 | GOLDEN ST TOBACCO-A-1 | 5.00% | 06/01/32 | 45 | 98 | 53 | 118% |
| 3 | GOLDEN ST TOBACCO-A-1 | 5.00% | 06/01/31 | 32 | 85 | 53 | 166% |
| 4 | BIRMINGHAM-REF | 3.46% | 01/01/39 | 25 | 73 | 48 | 192% |
| 5 | NORTHEAST OH REGL SWR | 3.30% | 11/15/49 | 21 | 67 | 46 | 219% |
| 6 | LOS ANGELES DEPT WTR | 5.00% | 07/01/36 | 34 | 78 | 44 | 129% |
| 7 | DETROIT MI | 3.34% | 04/01/30 | 6 | 50 | 44 | 733% |
| 8 | CALIPATRIA USD -TXBL | 2.79% | 08/01/39 | 10 | 48 | 38 | 380% |
| 9 | SIERRA JT CCD-A REF T | 1.45% | 08/01/29 | 10 | 48 | 38 | 380% |
| 10 | BAY AREA TOLL AUTH-F1 | 5.00% | 04/01/56 | 43 | 80 | 37 | 86% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 3/19/21 – 3/26/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 39 |
| 2 | NEW YORK NY | 4.00% | 03/01/47 | 31 |
| 3 | NYC TRANS FIN-E-1 | 3.00% | 02/01/51 | 28 |
| 4 | NEW YORK NY | 5.00% | 03/01/50 | 28 |
| 5 | NEW YORK ST URBAN DEV | 5.00% | 03/15/38 | 26 |
| 6 | NEW YORK NY | 5.00% | 03/01/42 | 25 |
| 7 | NEW YORK NY | 4.00% | 03/01/38 | 25 |
| 8 | NEW YORK NY | 3.00% | 03/01/51 | 24 |
| 9 | OHIO ST WTR DEV AUTH | 5.00% | 06/01/33 | 24 |
| 10 | CALIFORNIA ST | 5.00% | 12/01/27 | 24 |
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