Municipal Bond Market Summary – Week Ending 6/5/20
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Municipal Bond Market Summary: Week Ending 6/5/20
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 5/29/20 – 6/5/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ALAMEDA ETC CAB-AGM | 0.00% | 10/01/31 | 9.26% | 73.22 | 67.01 |
| 2 | SAN YSIDRO SD-F-CABS | 0.00% | 08/01/41 | 7.64% | 52.78 | 49.04 |
| 3 | MET TRAN AUTH-C1-REF | 3.13% | 11/15/28 | 7.56% | 98.97 | 92.01 |
| 4 | OR FACS AUTH-A-REF | 5.00% | 06/01/25 | 7.12% | 119.07 | 111.16 |
| 5 | HARRIS CO MET TRANS | 5.00% | 11/01/32 | 7.07% | 128.97 | 120.45 |
| 6 | RALEIGH DURHAM NC-A | 5.00% | 05/01/33 | 7.03% | 125.39 | 117.16 |
| 7 | LOS ANGELES DEPT ARPT | 5.00% | 05/15/48 | 6.99% | 122.10 | 114.12 |
| 8 | MIAMI-DADE CNTY FL | 5.00% | 07/01/40 | 6.87% | 128.70 | 120.43 |
| 9 | MISSOURI ST HLTH & ED | 5.00% | 06/01/29 | 6.73% | 124.26 | 116.42 |
| 10 | JACKSONVILLE FL SPL R | 5.00% | 10/01/28 | 6.68% | 122.63 | 114.95 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 5/29/20 – 6/5/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CAPE CORAL HLTH FACS | 5.40% | 07/01/32 | -6.03% | 76.92 | 81.85 |
| 2 | PRINCE WILLIAM CO-B | 1.82% | 08/01/32 | -5.03% | 99.72 | 105.00 |
| 3 | FLORIDA ST ATLANTIC U | 5.00% | 07/01/28 | -4.89% | 119.29 | 125.41 |
| 4 | SAN FRANCISCO UTILS-B | 6.00% | 11/01/40 | -4.56% | 132.94 | 139.29 |
| 5 | DASNY-B-TXBL-REF-REV | 2.77% | 07/01/43 | -3.64% | 94.94 | 98.52 |
| 6 | HAMPTON | 5.86% | 11/01/39 | -3.38% | 133.99 | 138.68 |
| 7 | MA CONS LN-BABS | 5.46% | 12/01/39 | -3.16% | 133.08 | 137.42 |
| 8 | BROWARD CO FL PORT-A | 5.00% | 09/01/37 | -3.15% | 117.37 | 121.19 |
| 9 | SAN DIEGO CO REGL ARP | 5.00% | 07/01/27 | -3.13% | 120.44 | 124.34 |
| 10 | CA MUNI FIN AUTH | 2.61% | 12/01/35 | -3.09% | 98.39 | 101.53 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 5/29/20 – 6/5/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | IL | -32 bps | 2.96% | 3.28% |
| 2 | GA | -30 bps | 1.45% | 1.75% |
| 3 | IA | -18 bps | 1.38% | 1.56% |
| 4 | MD | -17 bps | 1.38% | 1.55% |
| 5 | FL | -16 bps | 1.52% | 1.68% |
| 6 | MS | -15 bps | 1.80% | 1.95% |
| 7 | MN | -15 bps | 1.69% | 1.83% |
| 8 | NM | -13 bps | 1.56% | 1.70% |
| 9 | CT | -13 bps | 2.04% | 2.17% |
| 10 | OK | -12 bps | 2.05% | 2.17% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 5/29/20 – 6/5/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | TN | 34 bps | 1.85% | 1.51% |
| 2 | KS | 32 bps | 1.81% | 1.49% |
| 3 | NV | 23 bps | 2.20% | 1.97% |
| 4 | WI | 22 bps | 1.74% | 1.52% |
| 5 | CO | 20 bps | 1.89% | 1.70% |
| 6 | RI | 19 bps | 2.01% | 1.82% |
| 7 | SC | 17 bps | 1.85% | 1.68% |
| 8 | LA | 17 bps | 1.89% | 1.72% |
| 9 | HI | 10 bps | 1.76% | 1.66% |
| 10 | NJ | 8 bps | 1.92% | 1.84% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 5/29/20 – 6/5/20 (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 5/29/20 – 6/5/20 (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 5/29/20 – 6/5/20 (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 5/29/20 – 6/5/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 5/29/20 vs. the week ending 6/5/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BUCKEYE OH TOBACCO-B3 | 0.00% | 06/01/57 | 37 | 94 | 57 | 154% |
| 2 | GRAND RAPIDS PUB SCHS | 5.00% | 11/01/41 | 8 | 59 | 51 | 638% |
| 3 | MASSACHUSETTS ST | 5.00% | 01/01/49 | 2 | 52 | 50 | 2500% |
| 4 | CALIFORNIA | 3.00% | 10/01/34 | 32 | 80 | 48 | 150% |
| 5 | HUDSONVILLE MI PUB SC | 4.00% | 05/01/41 | 9 | 56 | 47 | 522% |
| 6 | PASCO CNTY FL -B | 5.00% | 10/01/48 | 9 | 56 | 47 | 522% |
| 7 | NYC TRANSITIONAL FIN | 4.00% | 05/01/40 | 89 | 136 | 47 | 53% |
| 8 | MASSACHUSETTS ST DEV | 5.00% | 10/15/30 | 76 | 122 | 46 | 61% |
| 9 | NY ST DORM AUTH-A | 5.00% | 07/01/35 | 5 | 51 | 46 | 920% |
| 10 | GEORGIA ST-A | 5.00% | 07/01/23 | 5 | 51 | 46 | 920% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 5/29/20 – 6/5/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CA UNIV REVENUE-A-REF | 5.00% | 11/01/47 | 33 |
| 2 | ILLINOIS ST | 5.75% | 05/01/45 | 32 |
| 3 | NYC TRANSITIONAL FIN | 4.00% | 05/01/40 | 30 |
| 4 | TX WTR DEV | 3.00% | 08/01/40 | 30 |
| 5 | TAMPA ETC EXWY-B-REF | 4.00% | 07/01/42 | 29 |
| 6 | CALIFORNIA ST | 3.00% | 03/01/46 | 29 |
| 7 | NEW YORK ST PWR AUTH | 3.25% | 11/15/60 | 29 |
| 8 | NYC TRANSITIONAL FIN | 4.00% | 05/01/45 | 28 |
| 9 | MASSACHUSETTS ST DEV | 5.00% | 10/15/29 | 27 |
| 10 | CALIFORNIA ST | 4.00% | 03/01/37 | 27 |
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