Municipal Bond Market Summary – Week Ending 6/21/24
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Municipal Bond Market Summary: Week Ending 6/21/24
Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.
Top 10 Performers
Showcases the top 10 Muni Bond performers based on price movements between 6/14/24-6/21/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | FULTON CNTY GA DEV AU | 3.235% | 10/01/49 | 4.45% | 73.19 | 70.07 | 5 |
| 2 | UNIV OF MICHIGAN MI | 2.562% | 04/01/50 | 4.03% | 66.98 | 64.39 | 2 |
| 3 | UNIV OF TEXAS SYS-B | 2.439% | 08/15/49 | 3.93% | 64.77 | 62.32 | 3 |
| 4 | MUNICIPAL ELEC AUTH | 7.055% | 04/01/57 | 3.90% | 114.04 | 109.75 | 9 |
| 5 | LA PUB FACS AUTH-REF | 4.000% | 05/15/42 | 3.86% | 98.99 | 95.32 | 2 |
| 6 | PORTLAND -A-REF-TXBL- | 5.152% | 06/15/42 | 3.82% | 95.72 | 92.19 | 4 |
| 7 | FT MYERS REV-REF | 3.000% | 12/01/36 | 3.51% | 88.79 | 85.78 | 3 |
| 8 | CO HLTH FACS AUTH-A | 4.000% | 11/15/46 | 3.49% | 99.30 | 95.95 | 4 |
| 9 | S DAKOTA HSG DEV-A | 1.900% | 11/01/36 | 3.36% | 75.02 | 72.58 | 3 |
| 10 | S WSTRN CCD-TXBL-REF | 3.118% | 08/01/44 | 3.36% | 75.58 | 73.13 | 3 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 6/14/24-6/21/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | MA BKL 3.00 03/15/2034 | 3.000% | 03/15/34 | -4.16% | 94.40 | 98.49 | 2 |
| 2 | TX DALAPT 4.09 11/01/2051 | 4.087% | 11/01/51 | -3.45% | 85.50 | 88.55 | 5 |
| 3 | MA NAV 3.00 06/15/2033 | 3.000% | 06/15/33 | -3.05% | 94.95 | 97.93 | 2 |
| 4 | NY PORTRN 3.18 07/15/2060 | 3.175% | 07/15/60 | -2.89% | 68.68 | 70.73 | 4 |
| 5 | DC METAPT 7.46 10/01/2046 | 7.462% | 10/01/46 | -2.88% | 121.56 | 125.17 | 10 |
| 6 | TX GPTTRN 5.18 10/01/2042 | 5.184% | 10/01/42 | -2.88% | 100.22 | 103.19 | 3 |
| 7 | FL BROAPT 3.48 10/01/2043 | 3.477% | 10/01/43 | -2.74% | 79.95 | 82.21 | 5 |
| 8 | CA CASGEN 0.00 06/01/2055 | 0.000% | 06/01/55 | -2.56% | 21.04 | 21.59 | 2 |
| 9 | NY MTATRN 7.34 11/15/2039 | 7.336% | 11/15/39 | -2.34% | 121.12 | 124.02 | 2 |
| 10 | OH JAMSCD 3.00 12/01/2046 | 3.000% | 12/01/46 | -2.22% | 76.40 | 78.13 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 6/14/24-6/21/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DE | -22 bps | 3.36% | 3.58% |
| 2 | OR | -16 bps | 3.92% | 4.07% |
| 3 | AL | -11 bps | 3.87% | 3.97% |
| 4 | MT | -10 bps | 3.57% | 3.66% |
| 5 | IA | -8 bps | 4.09% | 4.17% |
| 6 | NJ | -7 bps | 4.05% | 4.12% |
| 7 | NH | -7 bps | 3.62% | 3.68% |
| 8 | CO | -7 bps | 3.67% | 3.73% |
| 9 | ND | -5 bps | 3.69% | 3.73% |
| 10 | MO | -4 bps | 3.84% | 3.88% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 6/14/24-6/21/24
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NC | 27 bps | 3.62% | 3.35% |
| 2 | TN | 25 bps | 3.78% | 3.53% |
| 3 | NM | 22 bps | 4.03% | 3.80% |
| 4 | KS | 17 bps | 4.05% | 3.88% |
| 5 | VA | 15 bps | 3.70% | 3.55% |
| 6 | OK | 14 bps | 3.77% | 3.62% |
| 7 | SC | 14 bps | 3.78% | 3.63% |
| 8 | ME | 13 bps | 4.03% | 3.90% |
| 9 | LA | 12 bps | 3.97% | 3.84% |
| 10 | NE | 8 bps | 3.88% | 3.80% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 6/14/24-6/21/24 (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 6/14/24-6/21/24 (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 6/14/24-6/21/24 (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 6/14/24-6/21/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 6/14/24 vs. the week ending 6/21/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MA CMNWLTH-B-REF | 5.000% | 11/01/42 | 67 | 135 | 68 | 101% |
| 2 | LOWER CO RIVER AUTH | 5.000% | 05/15/31 | 22 | 78 | 56 | 255% |
| 3 | CROSBY ISD | 4.000% | 02/15/48 | 30 | 85 | 55 | 183% |
| 4 | UNIV OF CALIFORNIA-BV | 5.000% | 05/15/35 | 79 | 132 | 53 | 67% |
| 5 | LOS ANGELS WTR & PWR- | 5.000% | 07/01/41 | 35 | 87 | 52 | 149% |
| 6 | SAN ANTONIO-B-REF | 5.000% | 02/01/33 | 35 | 87 | 52 | 149% |
| 7 | LOS ANGELES UNIF SD-C | 4.000% | 07/01/35 | 44 | 96 | 52 | 118% |
| 8 | DT OF COLUMBIA-A-REV | 5.000% | 07/01/47 | 50 | 98 | 48 | 96% |
| 9 | PRINCETON ISD | 4.000% | 02/15/44 | 28 | 76 | 48 | 171% |
| 10 | WISCONSIN ST | 2.399% | 05/01/30 | 22 | 68 | 46 | 209% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 6/14/24 – 6/21/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES UNIF SD-A | 5.000% | 07/01/33 | 39 |
| 2 | CALIFORNIA ST | 5.000% | 11/01/30 | 39 |
| 3 | TRIBOROUGH BRIDGE-B-1 | 4.125% | 05/15/54 | 37 |
| 4 | WESLACO ISD | 4.125% | 02/15/49 | 34 |
| 5 | GARDEN GROVE PUB-A | 4.000% | 04/01/54 | 34 |
| 6 | SACRAMENTO USD-B | 4.000% | 08/01/54 | 34 |
| 7 | CALIFORNIA ST-REF | 5.000% | 09/01/35 | 33 |
| 8 | LOS ANGELES UNIF SD-A | 5.000% | 07/01/32 | 32 |
| 9 | CLOVIS UNIF DIST-C | 4.000% | 08/01/48 | 32 |
| 10 | PALM SPRINGS UNIF-B | 4.000% | 08/01/49 | 32 |
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