Municipal Bond Market Summary – Week Ending 8/27/21
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Municipal Bond Market Summary: Week Ending 8/27/21
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 8/20/21 – 8/27/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ALLENTOWN PA NEIGHBOR | 5.00% | 05/01/32 | 2.26% | 131.28 | 128.42 |
| 2 | SPARTANBURG-B | 3.55% | 04/15/50 | 2.11% | 109.19 | 106.94 |
| 3 | CALIFORNIA-B-BABS | 6.51% | 04/01/39 | 1.92% | 102.89 | 100.95 |
| 4 | GARDEN GROVE USD | 3.00% | 08/01/40 | 1.81% | 109.29 | 107.35 |
| 5 | NYC TRANSTNL FIN-C3 | 3.50% | 11/01/31 | 1.75% | 112.77 | 110.83 |
| 6 | VIRGINIA PUB BLDG-A | 4.00% | 08/01/35 | 1.73% | 123.12 | 121.02 |
| 7 | FORD CO SD #443-A | 3.50% | 03/01/36 | 1.70% | 114.16 | 112.25 |
| 8 | FORT WAYNE WTRWKS REV | 0.05% | 12/01/39 | 1.38% | 70.04 | 69.09 |
| 9 | CENT VLY SUPPORT-QSCB | 5.88% | 09/01/26 | 1.28% | 121.05 | 119.52 |
| 10 | WINTERS USD-C | 5.00% | 08/01/43 | 1.22% | 117.30 | 115.89 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 8/20/21 – 8/27/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UPPER TRINITY REGL WT | 2.75% | 08/01/39 | -5.19% | 107.60 | 113.49 |
| 2 | NTHRN IL MUN PWR-BABS | 7.82% | 01/01/40 | -3.97% | 155.97 | 162.41 |
| 3 | COOK SD#144-A-UNREF | 4.63% | 12/01/27 | -3.66% | 119.97 | 124.54 |
| 4 | ORANGE UNIF SD-TXBL | 2.30% | 05/01/37 | -3.14% | 96.76 | 99.90 |
| 5 | ATLANTIC CNTY NJ IMPT | 2.62% | 06/01/36 | -2.89% | 99.13 | 102.09 |
| 6 | OK A&M CLG-B-TXBL | 3.80% | 08/01/28 | -2.41% | 116.13 | 119.00 |
| 7 | IMPERIAL CA UNIF SCH | 4.00% | 08/01/47 | -2.27% | 112.58 | 115.19 |
| 8 | NEW JERSEY ST TRANSPR | 4.13% | 06/15/42 | -2.26% | 114.22 | 116.86 |
| 9 | PA TPK COMMN -BABS | 6.11% | 12/01/39 | -2.16% | 141.69 | 144.82 |
| 10 | AKRON ETC JT TWP HOSP | 4.00% | 11/15/36 | -2.13% | 118.37 | 120.94 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 8/20/21 – 8/27/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -40 bps | 1.76% | 2.16% |
| 2 | LA | -38 bps | 1.60% | 1.98% |
| 3 | DC | -35 bps | 1.49% | 1.84% |
| 4 | SC | -29 bps | 1.54% | 1.83% |
| 5 | MN | -16 bps | 1.42% | 1.58% |
| 6 | MA | -14 bps | 1.71% | 1.85% |
| 7 | NV | -11 bps | 1.85% | 1.95% |
| 8 | HI | -9 bps | 2.34% | 2.43% |
| 9 | VA | -8 bps | 1.37% | 1.45% |
| 10 | AZ | -8 bps | 1.71% | 1.79% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 8/20/21 – 8/27/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MO | 60 bps | 2.37% | 1.77% |
| 2 | CO | 30 bps | 1.73% | 1.44% |
| 3 | MD | 23 bps | 1.46% | 1.23% |
| 4 | GA | 22 bps | 1.67% | 1.46% |
| 5 | NH | 14 bps | 1.52% | 1.37% |
| 6 | CA | 13 bps | 1.91% | 1.77% |
| 7 | TX | 12 bps | 2.15% | 2.02% |
| 8 | WI | 11 bps | 2.10% | 1.98% |
| 9 | MI | 11 bps | 1.87% | 1.76% |
| 10 | WA | 9 bps | 2.04% | 1.95% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/20/21 – 8/27/21 (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 8/20/21 – 8/27/21 (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 8/20/21 – 8/27/21 (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 8/20/21 – 8/27/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/20/21 vs. the week ending 8/27/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | NEW YORK CITY INDL | 4.00% | 03/01/31 | 24 | 82 | 58 | 242% |
| 2 | RI ST HLTH & EDUCTNL | 4.00% | 05/15/32 | 23 | 65 | 42 | 183% |
| 3 | LOS ANGELES CO METRO | 5.00% | 07/01/46 | 33 | 74 | 41 | 124% |
| 4 | SEATTLE DRAIN WSTWTR | 4.00% | 04/01/36 | 5 | 45 | 40 | 800% |
| 5 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/26 | 20 | 59 | 39 | 195% |
| 6 | CA EDL-STANFORD UNIV | 5.25% | 04/01/40 | 15 | 48 | 33 | 220% |
| 7 | LA CA DEPT OF ARPTS | 5.00% | 05/15/31 | 73 | 105 | 32 | 44% |
| 8 | MERCED UN HSD -F | 2.00% | 08/01/47 | 15 | 47 | 32 | 213% |
| 9 | UNIV OF CALIFORNIA-Q | 5.00% | 05/15/34 | 10 | 42 | 32 | 320% |
| 10 | UNIV OF S CAROLINA -A | 5.00% | 05/01/46 | 29 | 60 | 31 | 107% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/20/21 – 8/27/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 28 |
| 2 | BLACK BELT ENERGY GAS | 4.00% | 06/01/51 | 26 |
| 3 | NEW JERSEY ST TURNPIK | 4.00% | 01/01/51 | 26 |
| 4 | TN ENERGY ACQ CORP-A | 5.00% | 05/01/52 | 26 |
| 5 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 25 |
| 6 | ILLINOIS ST FIN AUTH | 4.00% | 07/01/37 | 24 |
| 7 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/37 | 24 |
| 8 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/36 | 24 |
| 9 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/34 | 23 |
| 10 | VA CLG BLDG AUTH-A | 3.00% | 02/01/41 | 23 |
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