Municipals
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Municipal Bond Market Summary:
Week Ending 8/28/20
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 8/21/20 – 8/28/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | NYC SER H-1-BABS | 5.85% | 06/01/40 | 2.79% | 146.66 | 142.67 |
| 2 | TACOMA-TXB-D-BABS | 5.04% | 12/01/25 | 2.55% | 116.93 | 114.02 |
| 3 | PALMDALE ESD-QSCB | 8.12% | 06/01/27 | 2.44% | 128.69 | 125.63 |
| 4 | SAN DIEGO SD-A-UNREFD | 0.00% | 07/01/29 | 1.79% | 88.94 | 87.38 |
| 5 | OR GOVTS-B-PENSION OB | 6.85% | 06/01/28 | 1.61% | 127.39 | 125.37 |
| 6 | LOS ANGELES CO MTA -A | 5.00% | 06/01/30 | 1.38% | 140.05 | 138.14 |
| 7 | MISSOURI ST HLTH & ED | 5.00% | 02/15/30 | 1.37% | 128.82 | 127.08 |
| 8 | MIRACOSTA CA CMNTY CL | 2.00% | 08/01/41 | 1.31% | 99.03 | 97.75 |
| 9 | RENSSELAER CITY SD | 5.00% | 06/01/30 | 1.22% | 122.58 | 121.10 |
| 10 | OR ST-TXB-PENSION | 5.89% | 06/01/27 | 1.19% | 127.61 | 126.11 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 8/21/20 – 8/28/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | ALLAN HANCOCK CLG-C | 0.00% | 08/01/42 | -3.06% | 91.60 | 94.50 |
| 2 | NY DORM-TXB-H-GEN PUR | 5.39% | 03/15/40 | -2.99% | 135.07 | 139.23 |
| 3 | E-470 PUB HWY AUTH | 0.00% | 09/01/33 | -2.91% | 77.22 | 79.54 |
| 4 | OYSTER BAY TOWN-TXBL | 2.25% | 08/15/35 | -2.85% | 97.51 | 100.36 |
| 5 | PA ECON DEV FIN AUTH | 4.00% | 04/15/45 | -2.65% | 113.70 | 116.79 |
| 6 | BATAVIA | 2.00% | 01/01/40 | -2.62% | 99.52 | 102.20 |
| 7 | MONTGOMERY CO HGR EDU | 5.00% | 09/01/29 | -2.48% | 124.21 | 127.37 |
| 8 | LIBERTY CO TX | 2.00% | 08/01/41 | -2.37% | 97.02 | 99.37 |
| 9 | CALIFORNIA | 4.00% | 10/01/44 | -2.35% | 119.22 | 122.09 |
| 10 | MET TRANSPRTN-A-2 | 5.00% | 11/15/32 | -2.19% | 105.30 | 107.65 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 8/21/20 – 8/28/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | DC | -37 bps | 1.28% | 1.65% |
| 2 | MA | -36 bps | 1.26% | 1.62% |
| 3 | GA | -18 bps | 1.20% | 1.38% |
| 4 | NE | -11 bps | 1.27% | 1.38% |
| 5 | WV | -9 bps | 1.10% | 1.19% |
| 6 | HI | -9 bps | 1.79% | 1.88% |
| 7 | IA | -4 bps | 1.46% | 1.50% |
| 8 | CT | -4 bps | 2.23% | 2.26% |
| 9 | CO | -3 bps | 1.73% | 1.76% |
| 10 | MI | -2 bps | 1.80% | 1.82% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 8/21/20 – 8/28/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | AL | 30 bps | 2.00% | 1.70% |
| 2 | KS | 28 bps | 1.82% | 1.54% |
| 3 | PA | 28 bps | 1.95% | 1.68% |
| 4 | IL | 23 bps | 2.69% | 2.46% |
| 5 | NY | 18 bps | 1.80% | 1.61% |
| 6 | TN | 18 bps | 1.64% | 1.46% |
| 7 | FL | 18 bps | 1.47% | 1.29% |
| 8 | ID | 18 bps | 1.31% | 1.13% |
| 9 | NC | 16 bps | 1.20% | 1.04% |
| 10 | OH | 16 bps | 2.04% | 1.88% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/21/20 – 8/28/20 (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 8/21/20 – 8/28/20 (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 8/21/20 – 8/28/20 (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 8/21/20 – 8/28/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/21/20 vs. the week ending 8/28/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | NEW YORK ST URBAN DEV | 4.00% | 03/15/42 | 68 | 170 | 102 | 150% |
| 2 | DENTON ISD | 3.00% | 08/15/43 | 1 | 81 | 80 | 8000% |
| 3 | KANSAS CITY ARPT-B | 5.00% | 03/01/46 | 52 | 128 | 76 | 146% |
| 4 | NEW YORK ST URBAN DEV | 5.00% | 03/15/47 | 42 | 107 | 65 | 155% |
| 5 | DENTON ISD | 2.00% | 08/15/48 | 12 | 74 | 62 | 517% |
| 6 | MET TRANS AUTH-A1 | 5.00% | 11/15/48 | 42 | 101 | 59 | 140% |
| 7 | ALAMEDA CO JT PWRS | 4.00% | 12/01/34 | 11 | 68 | 57 | 518% |
| 8 | NEW JERSEY ST TRANSPR | 5.00% | 06/15/44 | 22 | 70 | 48 | 218% |
| 9 | SIMI VLY USD-REF | 5.00% | 08/01/24 | 5 | 52 | 47 | 940% |
| 10 | PLACENTIA ETC USD-REF | 5.00% | 08/01/25 | 5 | 52 | 47 | 940% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/21/20 – 8/28/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NEW YORK ST URBAN DEV | 4.00% | 03/15/42 | 34 |
| 2 | LOS ANGELES DEPT-B | 5.00% | 07/01/40 | 33 |
| 3 | PORT AUTH OF NEW YORK | 4.00% | 07/15/60 | 30 |
| 4 | NEW YORK ST URBAN DEV | 4.00% | 03/15/41 | 28 |
| 5 | CELINA ISD | 4.00% | 08/15/50 | 28 |
| 6 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 28 |
| 7 | PR SALES TAX FING-A1 | 0.00% | 07/01/46 | 27 |
| 8 | PORT AUTH OF NEW YORK | 4.00% | 07/15/38 | 27 |
| 9 | HOUSTON PORT AUTH -A | 4.00% | 10/01/36 | 27 |
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