Municipals
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Municipal Bond Market Summary:
Week Ending 9/25/20
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 9/18/20 – 9/25/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | TUSCALOOSA BOE-WTS | 5.00% | 08/01/46 | 6.96% | 126.83 | 118.57 |
| 2 | WISCONSIN ST | 2.45% | 05/01/31 | 3.71% | 112.33 | 108.31 |
| 3 | NEWPORT NEWS DEV-REF | 5.00% | 12/01/38 | 3.00% | 105.84 | 102.76 |
| 4 | LOGAN/TODD KY REGL WT | 3.00% | 07/01/41 | 2.62% | 106.23 | 103.52 |
| 5 | LINCOLN ELEC SYS-B | 1.80% | 09/01/33 | 2.56% | 103.00 | 100.42 |
| 6 | PA TURNPIKE-A-2-CABS | 0.00% | 12/01/33 | 2.45% | 124.35 | 121.38 |
| 7 | CA ST PUB WRKS BRD | 4.00% | 10/01/30 | 2.44% | 119.96 | 117.10 |
| 8 | LEHIGH CNTY | 0.00% | 12/01/30 | 2.44% | 83.82 | 81.83 |
| 9 | TRIBOROUGH BRIDGE-C | 3.75% | 11/15/43 | 2.37% | 108.42 | 105.91 |
| 10 | KENTUCKY ST ECON -REF | 6.25% | 11/15/46 | 2.33% | 87.75 | 85.75 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 9/18/20 – 9/25/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | PR-REF-A | 5.13% | 07/01/37 | -6.04% | 61.45 | 65.40 |
| 2 | SANDY SPRINGS PUB-REF | 1.38% | 05/01/29 | -4.11% | 101.34 | 105.69 |
| 3 | PA HSG EDU ASSISTANCE | 3.00% | 06/01/47 | -3.92% | 99.96 | 104.04 |
| 4 | COLUMBUS CSD | 3.75% | 12/01/44 | -3.89% | 111.67 | 116.19 |
| 5 | CA MUNI FIN AUTH | 4.00% | 03/01/50 | -3.47% | 105.42 | 109.21 |
| 6 | METRO TRANSP AUTH-A1 | 4.00% | 11/15/35 | -3.29% | 99.11 | 102.48 |
| 7 | MET PIER CAB-A-MCCORM | 0.00% | 12/15/37 | -2.89% | 55.70 | 57.36 |
| 8 | CHASKA ECO DEV AUTH | 4.00% | 12/01/31 | -2.14% | 123.09 | 125.78 |
| 9 | WYLIE ISD -A-REF | 4.00% | 08/15/31 | -2.08% | 127.49 | 130.20 |
| 10 | PHOENIX CIVIC IMPT CO | 5.00% | 07/01/34 | -2.01% | 114.35 | 116.69 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 9/18/20 – 9/25/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | KY | -32 bps | 1.50% | 1.82% |
| 2 | HI | -29 bps | 1.41% | 1.70% |
| 3 | MA | -26 bps | 1.49% | 1.75% |
| 4 | IN | -13 bps | 1.67% | 1.80% |
| 5 | FL | -12 bps | 1.35% | 1.47% |
| 6 | GA | -10 bps | 1.18% | 1.28% |
| 7 | NV | -3 bps | 1.84% | 1.87% |
| 8 | ME | -2 bps | 1.46% | 1.48% |
| 9 | NY | -1 bps | 1.55% | 1.56% |
| 10 | IA | -1 bps | 1.36% | 1.37% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 9/18/20 – 9/25/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | AL | 43 bps | 1.79% | 1.36% |
| 2 | CO | 38 bps | 1.87% | 1.49% |
| 3 | NJ | 31 bps | 1.70% | 1.39% |
| 4 | DC | 30 bps | 1.69% | 1.39% |
| 5 | WA | 25 bps | 1.72% | 1.47% |
| 6 | WI | 25 bps | 1.66% | 1.41% |
| 7 | MD | 25 bps | 1.35% | 1.10% |
| 8 | OH | 21 bps | 2.00% | 1.79% |
| 9 | CT | 20 bps | 2.17% | 1.97% |
| 10 | MI | 20 bps | 1.84% | 1.64% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 9/18/20 – 9/25/20 (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 9/18/20 – 9/25/20 (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 9/18/20 – 9/25/20 (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 9/18/20 – 9/25/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 9/18/20 vs. the week ending 9/25/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | SAN FRANCISCO CA BAY | 4.00% | 08/01/45 | 41 | 101 | 60 | 146% |
| 2 | AK SIRPORT SYSTEM-B | 5.00% | 10/01/32 | 2 | 60 | 58 | 2900% |
| 3 | MUNI ELEC AUTH OF GA | 5.00% | 01/01/56 | 7 | 48 | 41 | 586% |
| 4 | LOS ANGELES-B-REF | 5.00% | 05/15/33 | 18 | 59 | 41 | 228% |
| 5 | LOS ANGELES CO MTA -A | 5.00% | 06/01/30 | 41 | 79 | 38 | 93% |
| 6 | WYLIE ISD -A-REF | 4.00% | 08/15/31 | 13 | 47 | 34 | 262% |
| 7 | SC TRANSPRTN-2003B | 2.08% | 10/01/31 | 71 | 105 | 34 | 48% |
| 8 | MILWAUKEE-N4&B5 | 5.00% | 04/01/26 | 11 | 44 | 33 | 300% |
| 9 | SOUTH CAROLINA ST JOB | 5.00% | 04/01/38 | 4 | 36 | 32 | 800% |
| 10 | MET TRANSPRTN -A-1 | 4.00% | 11/15/51 | 15 | 47 | 32 | 213% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 9/18/20 – 9/25/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 31 |
| 2 | CALIFORNIA ST | 5.00% | 11/01/30 | 31 |
| 3 | NYC TRANSITIONAL FIN | 4.00% | 11/01/34 | 26 |
| 4 | CALIFORNIA ST | 3.00% | 11/01/41 | 25 |
| 5 | FULTON CO -A -WTR SWR | 3.00% | 01/01/36 | 22 |
| 6 | SACRAMENTO CA MUNI UT | 4.00% | 08/15/40 | 22 |
| 7 | CALIFORNIA ST | 4.00% | 11/01/50 | 22 |
| 8 | WASHINGTON ST -B | 5.00% | 06/01/43 | 22 |
| 9 | CALIFORNIA ST | 4.00% | 11/01/34 | 22 |
| 10 | SAN FRANCISCO CA BAY | 4.00% | 08/01/45 | 21 |
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