Municipals
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Municipal Bond Market Summary:
Week Ending 8/7/20
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 7/31/20 – 8/7/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | FL ST DEV FIN AUTH-B | 4.01% | 04/01/40 | 6.01% | 110.92 | 104.64 |
| 2 | OKLAHOMA CITY OK ARPT | 3.38% | 07/01/40 | 4.68% | 102.88 | 98.29 |
| 3 | CALIFORNIA STWD CMNTY | 5.00% | 08/01/34 | 4.43% | 127.48 | 122.07 |
| 4 | PASSAIC VLY SEWAGE-J | 3.00% | 12/01/33 | 3.75% | 112.70 | 108.62 |
| 5 | BIRMINGHAM CIVIC CTR | 3.70% | 07/01/24 | 3.75% | 102.70 | 98.99 |
| 6 | RI HLTH & EDU BLDG | 5.00% | 08/15/33 | 3.36% | 125.78 | 121.68 |
| 7 | SELMA WTRWKS & SWR-A | 2.38% | 08/01/41 | 3.20% | 101.78 | 98.62 |
| 8 | UNIV OF NC BOARD | 5.00% | 02/01/49 | 3.02% | 164.72 | 159.89 |
| 9 | AL PUB SCH-QSCB | 5.15% | 09/01/27 | 2.97% | 125.95 | 122.31 |
| 10 | MARYLAND ST STADIUM-C | 2.26% | 05/01/32 | 2.91% | 103.17 | 100.25 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 7/31/20 – 8/7/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SANTA MARGARITA WTR-A | 5.00% | 09/01/28 | -2.11% | 126.24 | 128.96 |
| 2 | MET TRANSPRTN-B | 5.25% | 11/15/44 | -1.74% | 106.83 | 108.72 |
| 3 | PUERTO RICO-REF-E | 5.50% | 07/01/31 | -1.65% | 64.18 | 65.25 |
| 4 | INDIANA ST FIN AUTH-A | 5.00% | 09/15/27 | -1.32% | 114.67 | 116.21 |
| 5 | WASHINGTONVILLE NY CE | 3.25% | 06/15/29 | -1.29% | 117.12 | 118.65 |
| 6 | DENVER HLTH & HOSP-A | 4.25% | 12/01/33 | -0.98% | 107.01 | 108.07 |
| 7 | COOK CO SCH DIST #30 | 3.00% | 12/01/30 | -0.88% | 110.09 | 111.07 |
| 8 | CONNEAUT SD -B CABS | 0.00% | 11/01/33 | -0.82% | 78.28 | 78.93 |
| 9 | PR COMWLTH REF-IMPT-A | 5.25% | 07/01/16 | -0.74% | 63.28 | 63.75 |
| 10 | FONTANA USD-A-CABS | 0.00% | 08/01/29 | -0.66% | 87.24 | 87.82 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 7/31/20 – 8/7/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | NV | -32 bps | 1.41% | 1.73% |
| 2 | KS | -31 bps | 1.31% | 1.63% |
| 3 | MT | -30 bps | 1.59% | 1.89% |
| 4 | CO | -30 bps | 1.62% | 1.92% |
| 5 | AR | -29 bps | 1.11% | 1.40% |
| 6 | PA | -27 bps | 1.50% | 1.77% |
| 7 | CT | -27 bps | 1.74% | 2.01% |
| 8 | TN | -26 bps | 1.41% | 1.67% |
| 9 | NC | -25 bps | 1.06% | 1.31% |
| 10 | MS | -24 bps | 1.09% | 1.33% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 7/31/20 – 8/7/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | AL | 28 bps | 1.61% | 1.33% |
| 2 | MN | 21 bps | 1.38% | 1.17% |
| 3 | FL | 15 bps | 1.23% | 1.08% |
| 4 | MO | 14 bps | 1.95% | 1.80% |
| 5 | NE | 11 bps | 1.11% | 1.00% |
| 6 | HI | 8 bps | 1.68% | 1.60% |
| 7 | MA | 6 bps | 1.46% | 1.41% |
| 8 | UT | 6 bps | 0.97% | 0.91% |
| 9 | WI | 4 bps | 1.60% | 1.56% |
| 10 | AZ | 3 bps | 1.54% | 1.51% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 7/31/20 – 8/7/20 (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 7/31/20 – 8/7/20 (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 7/31/20 – 8/7/20 (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 7/31/20 – 8/7/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 7/31/20 vs. the week ending 8/7/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MET TRANS AUTH-C1-REF | 5.00% | 11/15/28 | 24 | 113 | 89 | 371% |
| 2 | PR SALES TAX FING-A1 | 0.00% | 07/01/46 | 50 | 127 | 77 | 154% |
| 3 | RESTRUCTURED-SER A-2 | 4.33% | 07/01/40 | 18 | 88 | 70 | 389% |
| 4 | ILLINOIS ST | 5.50% | 05/01/30 | 52 | 117 | 65 | 125% |
| 5 | MET TRANS AUTH-C1-REF | 5.00% | 11/15/29 | 40 | 101 | 61 | 153% |
| 6 | PR SALES TAX FING-A1 | 5.00% | 07/01/58 | 35 | 94 | 59 | 169% |
| 7 | NJ ECON DEV AUTH-AAA | 5.00% | 06/15/26 | 9 | 67 | 58 | 644% |
| 8 | MET TRANS AUTH-C1-REF | 5.00% | 11/15/26 | 45 | 103 | 58 | 129% |
| 9 | NEW JERSEY ST TRANSPR | 4.00% | 06/15/44 | 36 | 90 | 54 | 150% |
| 10 | BUCKEYE TOBACCO-A-2 | 4.00% | 06/01/48 | 13 | 65 | 52 | 400% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 7/31/20 – 8/7/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | LOS ANGELES DEPT-B | 5.00% | 07/01/40 | 36 |
| 2 | NEW YORK ST URBAN DEV | 4.00% | 03/15/49 | 34 |
| 3 | MASSACHUSETTS ST | 5.00% | 07/01/45 | 32 |
| 4 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 32 |
| 5 | HOUSTON UTL SYS-C-REF | 4.00% | 11/15/37 | 32 |
| 6 | CORPUS CHRISTI TX UTI | 3.00% | 07/15/50 | 27 |
| 7 | PR SALES TAX FING-A1 | 0.00% | 07/01/46 | 27 |
| 8 | UNIV OF CALIFORNIA-BE | 4.00% | 05/15/50 | 27 |
| 9 | VIRGINIA CLG BLDG AUT | 4.00% | 02/01/37 | 26 |
| 10 | PRIVATE CLGS & UNIV-B | 4.00% | 09/01/40 | 26 |
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