Municipals
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Municipal Bond Market Summary:
Week Ending 7/15/22
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 7/8/22 – 7/15/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | MI CA 2.00 08/01/2040 | 2.00% | 08/01/40 | 7.60% | 75.53 | 70.19 |
| 2 | CA CASFIN 4.00 02/01/2051 | 4.00% | 02/01/51 | 6.98% | 95.09 | 88.89 |
| 3 | CA CASMED 4.00 04/01/2049 | 4.00% | 04/01/49 | 6.37% | 98.28 | 92.39 |
| 4 | OR JACSCD 0.00 06/15/2048 | 0.00% | 06/15/48 | 6.04% | 39.63 | 37.37 |
| 5 | NY NYSTRN 4.00 01/01/2056 | 4.00% | 01/01/56 | 5.85% | 95.94 | 90.63 |
| 6 | NY NYCDEV 3.00 01/01/2040 | 3.00% | 01/01/40 | 5.52% | 87.51 | 82.94 |
| 7 | PA PASTRN 3.00 12/01/2051 | 3.00% | 12/01/51 | 5.43% | 75.42 | 71.54 |
| 8 | CA ECJ 2.49 04/01/2033 | 2.49% | 04/01/33 | 5.42% | 82.12 | 77.90 |
| 9 | FL MMBMED 3.00 11/15/2051 | 3.00% | 11/15/51 | 5.39% | 75.61 | 71.74 |
| 10 | OR UNOHGR 3.50 04/01/2052 | 3.50% | 04/01/52 | 5.33% | 92.11 | 87.45 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 7/8/22 – 7/15/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CA MNPSCD 2.97 07/01/2038 | 2.97% | 07/01/38 | -17.43% | 80.95 | 98.04 |
| 2 | CT CTSMED 4.00 07/01/2037 | 4.00% | 07/01/37 | -8.77% | 91.34 | 100.13 |
| 3 | MN STPEDU 3.38 02/01/2039 | 3.38% | 02/01/39 | -4.89% | 85.43 | 89.83 |
| 4 | CO DENHSG 3.24 12/01/2038 | 3.24% | 12/01/38 | -4.77% | 82.09 | 86.20 |
| 5 | CA WCCSCD 3.06 08/01/2045 | 3.06% | 08/01/45 | -4.21% | 76.90 | 80.28 |
| 6 | NY NYC 5.00 08/01/2028 | 5.00% | 08/01/28 | -3.19% | 105.81 | 109.31 |
| 7 | PA NKGUTL 2.42 12/01/2035 | 2.42% | 12/01/35 | -3.11% | 80.47 | 83.05 |
| 8 | TX SAN 2.93 02/01/2048 | 2.93% | 02/01/48 | -3.11% | 79.03 | 81.57 |
| 9 | CA SFOWTR 3.30 11/01/2039 | 3.30% | 11/01/39 | -3.07% | 85.74 | 88.46 |
| 10 | NY NYSPWR 2.82 11/15/2039 | 2.82% | 11/15/39 | -3.05% | 80.35 | 82.88 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 7/8/22 – 7/15/22
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | NJ | -848 bps | 3.69% | 12.17% |
| 2 | AL | -24 bps | 3.46% | 3.70% |
| 3 | SC | -24 bps | 3.11% | 3.35% |
| 4 | LA | -24 bps | 3.34% | 3.57% |
| 5 | IL | -23 bps | 4.12% | 4.35% |
| 6 | AK | -21 bps | 3.00% | 3.21% |
| 7 | GA | -20 bps | 2.94% | 3.14% |
| 8 | VA | -15 bps | 2.86% | 3.01% |
| 9 | NY | -14 bps | 3.45% | 3.59% |
| 10 | MD | -14 bps | 2.96% | 3.10% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 7/8/22 – 7/15/22
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | OR | 44 bps | 3.74% | 3.29% |
| 2 | FL | 35 bps | 3.59% | 3.24% |
| 3 | HI | 18 bps | 3.47% | 3.29% |
| 4 | MA | 12 bps | 3.35% | 3.23% |
| 5 | MN | 12 bps | 3.25% | 3.14% |
| 6 | UT | 11 bps | 3.05% | 2.94% |
| 7 | CO | 10 bps | 3.44% | 3.34% |
| 8 | WA | 10 bps | 3.46% | 3.36% |
| 9 | AZ | 9 bps | 3.42% | 3.34% |
| 10 | WI | 7 bps | 3.39% | 3.32% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 7/8/22 – 7/15/22 (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 7/8/22 – 7/15/22 (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 7/8/22 – 7/15/22 (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 7/8/22 – 7/15/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 7/8/22 vs. the week ending 7/15/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | WI WISMED 4.00 08/15/2050 | 4.00% | 08/15/50 | 21 | 78 | 57 | 271% |
| 2 | TX MNRSCD 5.00 08/01/2052 | 5.00% | 08/01/52 | 4 | 51 | 47 | 1175% |
| 3 | IL ILS 5.00 08/01/2023 | 5.00% | 08/01/23 | 5 | 52 | 47 | 940% |
| 4 | GA GAS 4.00 07/01/2038 | 4.00% | 07/01/38 | 5 | 44 | 39 | 780% |
| 5 | TX MNRSCD 4.00 08/01/2047 | 4.00% | 08/01/47 | 3 | 40 | 37 | 1233% |
| 6 | CA CASHGR 5.00 06/01/2046 | 5.00% | 06/01/46 | 25 | 58 | 33 | 132% |
| 7 | NY NYCGEN 4.00 05/01/2036 | 4.00% | 05/01/36 | 13 | 45 | 32 | 246% |
| 8 | IL CHITRN 4.00 01/01/2041 | 4.00% | 01/01/41 | 7 | 39 | 32 | 457% |
| 9 | IL MPNFAC 0.00 12/15/2054 | 0.00% | 12/15/54 | 34 | 66 | 32 | 94% |
| 10 | TX MNRSCD 4.00 08/01/2041 | 4.00% | 08/01/41 | 3 | 34 | 31 | 1033% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 7/8/22 – 7/15/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PR PRCGEN 5.00 07/01/2058 | 5.00% | 07/01/58 | 31 |
| 2 | NJ NJSMED 4.00 07/01/2051 | 4.00% | 07/01/51 | 30 |
| 3 | TX RKWSCD 5.00 02/15/2052 | 5.00% | 02/15/52 | 29 |
| 4 | TX KATSCD 4.00 02/15/2052 | 4.00% | 02/15/52 | 29 |
| 5 | NY NYSHGR 4.00 07/01/2053 | 4.00% | 07/01/53 | 28 |
| 6 | WA ENEPWR 5.00 07/01/2036 | 5.00% | 07/01/36 | 27 |
| 7 | NY NYSHGR 5.00 03/15/2041 | 5.00% | 03/15/41 | 26 |
| 8 | NC NCSMED 4.00 07/01/2049 | 4.00% | 07/01/49 | 26 |
| 9 | NY NYCUTL 5.00 06/15/2049 | 5.00% | 06/15/49 | 26 |
| 10 | ID IDSMED 4.00 12/01/2043 | 4.00% | 12/01/43 | 26 |
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