Municipal Bond Market Summary – Week Ending 5/8/20
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Municipal Bond Market Summary: Week Ending 5/8/20
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 5/1/20 – 5/8/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | JEFFERSON UHSD-CABS | 0.00% | 08/01/29 | 7.59% | 83.81 | 77.90 |
| 2 | UNIV VT & ST AGRIC | 5.00% | 10/01/24 | 6.03% | 119.08 | 112.31 |
| 3 | SAGINAW VLY UNIV-A | 5.00% | 07/01/31 | 6.01% | 121.18 | 114.31 |
| 4 | DALLAS AREA RAPID-A | 5.00% | 12/01/33 | 5.96% | 121.71 | 114.86 |
| 5 | CO BLDG SCHS-N | 5.00% | 03/15/33 | 5.76% | 125.09 | 118.27 |
| 6 | MASON CO PUB UTIL #3 | 4.00% | 12/01/38 | 5.21% | 115.44 | 109.72 |
| 7 | WEEHAWKEN TWP BOE | 3.00% | 07/15/32 | 4.94% | 103.64 | 98.76 |
| 8 | WATERVLIET SCHS | 5.00% | 05/01/25 | 4.70% | 114.56 | 109.42 |
| 9 | BENSALEM TWP SD -A | 4.00% | 06/01/25 | 4.68% | 113.63 | 108.55 |
| 10 | KY ECON DEV FIN-A | 5.00% | 01/01/45 | 4.68% | 99.49 | 95.04 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 5/1/20 – 5/8/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | NJ TRN FD CAB-SER -A | 0.00% | 12/15/32 | -7.74% | 54.71 | 59.30 |
| 2 | CT HLTH & EDU-F-REF | 3.50% | 07/01/26 | -7.35% | 90.13 | 97.28 |
| 3 | CHICAGO-A | 5.00% | 01/01/40 | -7.16% | 91.68 | 98.75 |
| 4 | TARRANT CNTY TX CULTU | 6.38% | 02/15/48 | -7.07% | 86.80 | 93.41 |
| 5 | ALAMEDA CORRIDOR-CABS | 0.00% | 10/01/33 | -6.83% | 66.81 | 71.71 |
| 6 | CO HLTH FACS AUTH-B | 4.00% | 11/01/27 | -6.74% | 90.32 | 96.85 |
| 7 | W LINN WILSONVILLE-A | 0.00% | 06/15/44 | -6.69% | 48.03 | 51.47 |
| 8 | DECATUR CITY BOE | 3.04% | 02/01/45 | -6.08% | 94.13 | 100.22 |
| 9 | NEW JERSEY ST TRANSPR | 5.00% | 06/15/30 | -5.97% | 100.57 | 106.96 |
| 10 | WESTCHESTER LOC DEV | 5.00% | 11/01/46 | -5.93% | 101.78 | 108.20 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 5/1/20 – 5/8/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MT | -66 bps | 1.91% | 2.57% |
| 2 | AL | -54 bps | 1.94% | 2.48% |
| 3 | DC | -38 bps | 1.82% | 2.20% |
| 4 | UT | -35 bps | 1.65% | 2.00% |
| 5 | OR | -34 bps | 2.04% | 2.38% |
| 6 | WI | -32 bps | 1.75% | 2.06% |
| 7 | WA | -31 bps | 1.95% | 2.27% |
| 8 | AZ | -30 bps | 1.93% | 2.22% |
| 9 | IA | -29 bps | 1.75% | 2.05% |
| 10 | MN | -28 bps | 1.84% | 2.12% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 5/1/20 – 5/8/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | HI | 50 bps | 2.38% | 1.89% |
| 2 | IL | 26 bps | 3.67% | 3.41% |
| 3 | MI | 17 bps | 2.64% | 2.47% |
| 4 | MO | 10 bps | 2.29% | 2.19% |
| 5 | NC | 7 bps | 1.75% | 1.68% |
| 6 | IN | 7 bps | 2.65% | 2.58% |
| 7 | TN | 0 bps | 1.92% | 1.91% |
| 8 | OK | -4 bps | 2.25% | 2.28% |
| 9 | NV | -5 bps | 2.52% | 2.56% |
| 10 | NM | -6 bps | 1.85% | 1.92% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 5/1/20 – 5/8/20 (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 5/1/20 – 5/8/20 (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
Displays the average Muni 10 year yield by state between 5/1/20 – 5/8/20 (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 5/1/20 – 5/8/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 5/1/20 vs. the week ending 5/8/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | TX WTR DEV BRD-A | 5.00% | 10/15/42 | 17 | 77 | 60 | 353% |
| 2 | CALIFORNIA ST | 4.00% | 03/01/50 | 44 | 104 | 60 | 136% |
| 3 | WELD CO SD RE-2 | 5.00% | 12/01/38 | 5 | 59 | 54 | 1080% |
| 4 | PORT AUTH OF NY -REF | 5.00% | 07/15/31 | 13 | 65 | 52 | 400% |
| 5 | NEW YORK ST URBAN DEV | 4.00% | 03/15/43 | 38 | 89 | 51 | 134% |
| 6 | SEATTLE LGHT&PWR-REF | 4.00% | 09/01/40 | 1 | 41 | 40 | 4000% |
| 7 | CALIFORNIA-REF-GRP C | 5.00% | 08/01/30 | 5 | 45 | 40 | 800% |
| 8 | FORT BEND TX INDEP SC | 5.00% | 08/15/26 | 4 | 43 | 39 | 975% |
| 9 | FORT BEND TX INDEP SC | 5.00% | 08/15/30 | 11 | 50 | 39 | 355% |
| 10 | CYPRESS ETC ISD-REF | 5.00% | 02/15/31 | 8 | 45 | 37 | 463% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 5/1/20 – 5/8/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CALIFORNIA ST | 4.00% | 03/01/40 | 29 |
| 2 | MULTNOMAH CO SD #1J | 5.00% | 06/15/29 | 29 |
| 3 | HAWAII ST | 5.00% | 10/01/29 | 28 |
| 4 | NEW JERSEY ST TRANSPR | 5.00% | 06/15/44 | 28 |
| 5 | CALIFORNIA ST | 3.00% | 03/01/46 | 27 |
| 6 | TAMPA ETC EXWY-B-REF | 4.00% | 07/01/42 | 27 |
| 7 | CALIFORNIA ST | 5.00% | 03/01/33 | 27 |
| 8 | COLLIN CNTY TX CMNTY | 3.00% | 08/15/40 | 26 |
| 9 | LOVE FIELD ARPT-SW AI | 5.25% | 11/01/40 | 26 |
| 10 | LOS ANGELES CA DEPT O | 5.00% | 07/01/28 | 26 |
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