Municipals
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Municipal Bond Market Summary:
Week Ending 9/11/20
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 9/4/20 – 9/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | RIALTO REDEV-TXB-B | 7.50% | 09/01/28 | 2.67% | 130.15 | 126.77 |
| 2 | CLINT ISD -TXBL -REF | 2.27% | 02/15/40 | 2.05% | 102.32 | 100.26 |
| 3 | DAUPHIN GEN AUTH-A | 4.00% | 06/01/32 | 1.70% | 111.40 | 109.54 |
| 4 | MIDLOTHIAN WTR CAB-RF | 0.00% | 09/01/22 | 1.69% | 98.58 | 96.95 |
| 5 | CHICAGO-C-REF-CABS | 0.00% | 01/01/30 | 1.50% | 71.46 | 70.40 |
| 6 | FLORIDA ST BRD OF ADM | 1.26% | 07/01/25 | 1.49% | 101.79 | 100.30 |
| 7 | KANSAS CITY-E-REF | 5.00% | 04/01/26 | 1.43% | 119.43 | 117.74 |
| 8 | SEATTLE DRAIN WSTWTR | 4.00% | 04/01/35 | 1.40% | 115.51 | 113.92 |
| 9 | NOBLESVILLE SEW WKS | 3.00% | 07/01/27 | 1.30% | 112.87 | 111.42 |
| 10 | SANTA CRUZ HIGH SD-A | 3.00% | 08/01/32 | 1.24% | 110.87 | 109.51 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 9/4/20 – 9/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | ROSEMONT-TXB-C-CORP | 6.75% | 12/01/35 | -14.30% | 122.29 | 142.70 |
| 2 | METRO TRANSP AUTH-A1 | 3.10% | 11/15/35 | -5.46% | 90.32 | 95.53 |
| 3 | NY TRNSPRTN DEV-AMT | 4.00% | 01/01/36 | -4.70% | 97.00 | 101.79 |
| 4 | IL FIN AUTH | 4.00% | 10/01/50 | -3.54% | 107.82 | 111.77 |
| 5 | MET TRANSPRTN -A-1 | 4.00% | 11/15/50 | -3.44% | 111.90 | 115.88 |
| 6 | LIVERMORE-B-COPS-REF | 4.00% | 10/01/40 | -2.55% | 116.63 | 119.68 |
| 7 | PUB FIN AUTH-TXBL | 6.75% | 11/01/24 | -2.52% | 99.98 | 102.56 |
| 8 | MERCED HSD-TXB-B1 | 6.72% | 08/01/25 | -2.30% | 118.06 | 120.84 |
| 9 | NYC TRANS FIN-F1 | 5.00% | 05/01/42 | -2.21% | 120.49 | 123.22 |
| 10 | CALIFORNIA ST HSG FIN | 5.00% | 04/01/32 | -2.11% | 138.64 | 141.62 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 9/4/20 – 9/11/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | IN | -56 bps | 1.74% | 2.30% |
| 2 | PA | -48 bps | 1.80% | 2.28% |
| 3 | FL | -22 bps | 1.34% | 1.56% |
| 4 | GA | -16 bps | 1.29% | 1.45% |
| 5 | KS | -15 bps | 1.65% | 1.79% |
| 6 | NM | -8 bps | 1.20% | 1.28% |
| 7 | MT | -7 bps | 1.92% | 1.99% |
| 8 | AL | -7 bps | 1.66% | 1.73% |
| 9 | MD | -5 bps | 1.14% | 1.20% |
| 10 | WV | -5 bps | 1.25% | 1.30% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 9/4/20 – 9/11/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | MA | 48 bps | 1.64% | 1.16% |
| 2 | MO | 40 bps | 2.28% | 1.88% |
| 3 | SC | 33 bps | 1.76% | 1.43% |
| 4 | CT | 33 bps | 2.45% | 2.13% |
| 5 | LA | 25 bps | 1.82% | 1.58% |
| 6 | IL | 25 bps | 3.00% | 2.76% |
| 7 | WA | 24 bps | 1.75% | 1.51% |
| 8 | HI | 22 bps | 1.99% | 1.77% |
| 9 | IA | 21 bps | 1.49% | 1.28% |
| 10 | NV | 14 bps | 1.85% | 1.70% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 9/4/20 – 9/11/20 (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 9/4/20 – 9/11/20 (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 9/4/20 – 9/11/20 (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 9/4/20 – 9/11/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 9/4/20 vs. the week ending 9/11/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | HOWARD CO-B-REF | 3.00% | 08/15/49 | 28 | 74 | 46 | 164% |
| 2 | PA ECON DEV-A | 4.00% | 11/15/37 | 27 | 68 | 41 | 152% |
| 3 | MIAMI-DADE CO SCD-A | 5.00% | 05/01/32 | 25 | 65 | 40 | 160% |
| 4 | MET TRANS AUTH-B-REF | 5.00% | 11/15/27 | 26 | 65 | 39 | 150% |
| 5 | NYC MUNI WTR FIN -BB1 | 4.00% | 06/15/49 | 41 | 78 | 37 | 90% |
| 6 | N BROWARD HOSP-B | 5.00% | 01/01/35 | 11 | 47 | 36 | 327% |
| 7 | PRINCE GEORGE’S CO -A | 5.00% | 07/15/34 | 11 | 45 | 34 | 309% |
| 8 | NYC MUNI WTR FIN-FF-2 | 4.00% | 06/15/36 | 14 | 48 | 34 | 243% |
| 9 | UPPER OCCOQUAN SEWAGE | 3.00% | 07/01/49 | 23 | 57 | 34 | 148% |
| 10 | ALLEGHENY CNTY-A-REF | 4.00% | 07/15/36 | 32 | 65 | 33 | 103% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 9/4/20 – 9/11/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 29 |
| 2 | NEW YORK ST URBAN DEV | 4.00% | 03/15/42 | 28 |
| 3 | NEW YORK ST URBAN DEV | 4.00% | 03/15/41 | 27 |
| 4 | WASHINGTON ST-A | 5.00% | 08/01/36 | 26 |
| 5 | PORT AUTH OF NEW YORK | 5.00% | 07/15/32 | 26 |
| 6 | WASHINGTON ST -B | 5.00% | 06/01/43 | 26 |
| 7 | NEW YORK ST URBAN DEV | 5.00% | 03/15/31 | 26 |
| 8 | HOUSTON PORT AUTH -A | 4.00% | 10/01/36 | 25 |
| 9 | CELINA ISD | 4.00% | 08/15/50 | 24 |
| 10 | WASHINGTON ST-A | 0.05% | 08/01/37 | 23 |
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