Municipals
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Municipal Bond Market Summary:
Week Ending 6/19/20
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 6/12/20 – 6/19/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CALIFORNIA ST HLTH FA | 2.00% | 10/01/36 | 7.67% | 102.51 | 95.21 |
| 2 | CO EDU & CULT FACS | 3.75% | 07/01/26 | 6.90% | 99.50 | 93.08 |
| 3 | IOWA ST FIN AUTH REVE | 5.00% | 05/15/43 | 6.61% | 99.70 | 93.52 |
| 4 | MET TRANS AUTH REV-C | 5.00% | 11/15/32 | 5.85% | 110.53 | 104.43 |
| 5 | CALIFORNIA STWD CMNTY | 5.00% | 08/01/32 | 5.85% | 123.03 | 116.24 |
| 6 | MARICOPA IDA | 5.00% | 07/01/47 | 5.13% | 102.50 | 97.50 |
| 7 | STHRN MN PWR CAB -A | 0.00% | 01/01/27 | 5.04% | 92.07 | 87.65 |
| 8 | CONNECTICUT-A | 3.25% | 03/15/30 | 4.97% | 106.41 | 101.37 |
| 9 | MICHIGAN ST FIN AUTH | 5.00% | 12/01/39 | 4.79% | 124.36 | 118.67 |
| 10 | MTA TRANS AUTH-B2 | 5.00% | 11/15/22 | 4.69% | 107.39 | 102.58 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 6/12/20 – 6/19/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | HARRIS CN HOUSTON-A | 5.00% | 11/15/30 | -3.15% | 102.70 | 106.05 |
| 2 | S JERSEY PORT-B-AMT | 5.00% | 01/01/31 | -2.70% | 108.93 | 111.96 |
| 3 | CALI STWD CMNTY | 5.00% | 11/01/37 | -2.49% | 101.17 | 103.75 |
| 4 | TROY NY CAPITAL RESO | 4.00% | 09/01/40 | -2.22% | 108.65 | 111.12 |
| 5 | MASSACHUSETTS DEV FIN | 5.00% | 10/01/22 | -2.22% | 101.06 | 103.35 |
| 6 | TOMS RIVER | 2.00% | 06/15/31 | -2.20% | 102.91 | 105.22 |
| 7 | COMPTON UNIF SD-B | 0.00% | 06/01/41 | -1.79% | 56.28 | 57.30 |
| 8 | SUFFOLK CO WTR AUTH – | 2.08% | 06/01/37 | -1.77% | 99.43 | 101.22 |
| 9 | BRIGHTON AREA SCHS | 3.00% | 05/01/37 | -1.59% | 107.20 | 108.93 |
| 10 | ORANGE CNTY-REF | 5.00% | 10/01/23 | -1.55% | 110.84 | 112.59 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 6/12/20 – 6/19/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | MN | -26 bps | 1.61% | 1.87% |
| 2 | LA | -24 bps | 1.72% | 1.96% |
| 3 | VA | -13 bps | 1.18% | 1.31% |
| 4 | TN | -12 bps | 1.60% | 1.72% |
| 5 | OK | -11 bps | 1.80% | 1.90% |
| 6 | IL | -9 bps | 2.79% | 2.88% |
| 7 | DC | -9 bps | 1.40% | 1.49% |
| 8 | MT | -7 bps | 1.42% | 1.49% |
| 9 | MD | -7 bps | 1.45% | 1.52% |
| 10 | GA | -7 bps | 1.21% | 1.28% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 6/12/20 – 6/19/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | AR | 59 bps | 2.39% | 1.80% |
| 2 | MO | 51 bps | 1.97% | 1.45% |
| 3 | KS | 44 bps | 2.03% | 1.59% |
| 4 | MS | 31 bps | 1.91% | 1.59% |
| 5 | AL | 24 bps | 1.89% | 1.65% |
| 6 | NY | 18 bps | 1.86% | 1.69% |
| 7 | MA | 17 bps | 1.63% | 1.47% |
| 8 | CO | 14 bps | 1.89% | 1.75% |
| 9 | SC | 13 bps | 1.71% | 1.58% |
| 10 | KY | 12 bps | 1.86% | 1.74% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 6/12/20 – 6/19/20 (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 6/12/20 – 6/19/20 (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 Only
Displays the average Muni 10 year yield by state between 6/12/20 – 6/19/20 (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 6/12/20 – 6/19/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 6/12/20 vs. the week ending 6/19/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CONNECTICUT-A | 5.00% | 08/01/35 | 10 | 65 | 55 | 550% |
| 2 | CALIFORNIA ST | 5.00% | 03/01/31 | 92 | 140 | 48 | 52% |
| 3 | MASSACHUSETTS ST-C | 5.00% | 05/01/46 | 6 | 54 | 48 | 800% |
| 4 | MESQUITE ISD-A | 4.00% | 08/15/39 | 9 | 56 | 47 | 522% |
| 5 | SAN MATEO FOSTER CITY | 4.00% | 05/01/45 | 21 | 67 | 46 | 219% |
| 6 | NJ EDU FACS AUTH-B | 5.00% | 07/01/27 | 13 | 58 | 45 | 346% |
| 7 | FRISCO TX INDEP SCH D | 5.00% | 08/15/36 | 20 | 64 | 44 | 220% |
| 8 | MESQUITE ISD-A | 4.00% | 08/15/40 | 9 | 51 | 42 | 467% |
| 9 | NYC TRANS FIN AUTH-S2 | 5.00% | 07/15/34 | 4 | 46 | 42 | 1050% |
| 10 | MASSACHUSETTS ST-G | 5.00% | 09/01/30 | 58 | 100 | 42 | 72% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 6/12/20 – 6/19/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NYC TRANSITIONAL FIN | 4.00% | 05/01/40 | 38 |
| 2 | NEW YORK CITY NY MUNI | 4.00% | 06/15/41 | 36 |
| 3 | CA UNIV REVENUE-A-REF | 5.00% | 11/01/47 | 32 |
| 4 | TX WTR DEV | 3.00% | 08/01/40 | 31 |
| 5 | NYC TRANSITIONAL FIN | 4.00% | 05/01/45 | 31 |
| 6 | CLEVELAND ISD | 4.00% | 02/15/52 | 30 |
| 7 | TRIBOROUGH BRIDGE & T | 4.00% | 11/15/54 | 28 |
| 8 | CALIFORNIA ST | 5.00% | 03/01/31 | 28 |
| 9 | PRIVATE CLGS & UNIV-B | 4.00% | 09/01/41 | 27 |
| 10 | ROCKWALL CO-REF | 4.00% | 02/01/45 | 26 |
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