Municipal Bond Market Summary – Week Ending 1/3/25
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Municipal Bond Market Summary: Week Ending 1/3/25
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 12/27/24-1/3/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | GREAT LAKES WTR AUTH | 3.506% | 07/01/44 | 5.16% | 78.53 | 74.68 | 4 |
| 2 | NYC TRANSITIONAL | 4.000% | 05/01/53 | 3.69% | 99.22 | 95.69 | 3 |
| 3 | ALLEN HOSP FACS-A-REF | 4.000% | 11/01/44 | 3.35% | 94.62 | 91.55 | 7 |
| 4 | DALLAS-REV | 4.125% | 10/01/54 | 3.29% | 99.42 | 96.25 | 19 |
| 5 | RHODE ISLAND ST HLTH | 5.000% | 05/15/33 | 3.24% | 116.97 | 113.30 | 2 |
| 6 | KETTERING CITY SD | 3.400% | 12/01/48 | 3.24% | 84.38 | 81.74 | 2 |
| 7 | LA LOCAL GOVT ENV FAC | 3.375% | 11/01/47 | 3.16% | 86.59 | 83.94 | 2 |
| 8 | DELAWARE ST HSG-C | 4.600% | 07/01/49 | 3.14% | 101.00 | 97.92 | 6 |
| 9 | KENTUCKY BOND DEV COR | 4.000% | 09/01/48 | 3.11% | 97.75 | 94.80 | 10 |
| 10 | LOS ANGELES CA DEPT O | 4.000% | 05/15/49 | 3.09% | 97.44 | 94.51 | 13 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 12/27/24-1/3/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CO RNDFAC 4.00 12/01/2049 | 4.000% | 12/01/49 | -4.23% | 95.02 | 99.22 | 5 |
| 2 | IL SPRPWR 5.00 03/01/2039 | 5.000% | 03/01/39 | -3.91% | 110.49 | 114.98 | 4 |
| 3 | NY PORTRN 3.25 05/01/2033 | 3.250% | 05/01/33 | -3.59% | 95.52 | 99.07 | 4 |
| 4 | OH MONMED 4.00 08/01/2047 | 4.000% | 08/01/47 | -3.50% | 92.96 | 96.33 | 2 |
| 5 | MD MDSFAC 3.25 11/01/2034 | 3.250% | 11/01/34 | -3.46% | 95.09 | 98.50 | 2 |
| 6 | PA LEHMED 3.25 07/01/2049 | 3.250% | 07/01/49 | -3.27% | 76.81 | 79.41 | 3 |
| 7 | MT MTSSFH 3.15 12/01/2036 | 3.150% | 12/01/36 | -3.19% | 87.13 | 90.00 | 2 |
| 8 | SD SDSMED 4.00 07/01/2042 | 4.000% | 07/01/42 | -2.99% | 94.67 | 97.59 | 3 |
| 9 | CA UNVHGR 6.58 05/15/2049 | 6.583% | 05/15/49 | -2.94% | 107.98 | 111.25 | 6 |
| 10 | NJ WBGSCD 3.25 09/01/2039 | 3.250% | 09/01/39 | -2.94% | 90.57 | 93.31 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 12/27/24-1/3/25
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | OK | -32 bps | 3.58% | 3.90% |
| 2 | NE | -21 bps | 4.13% | 4.34% |
| 3 | CO | -19 bps | 3.78% | 3.97% |
| 4 | DE | -19 bps | 3.19% | 3.38% |
| 5 | HI | -16 bps | 3.95% | 4.12% |
| 6 | FL | -15 bps | 3.83% | 3.97% |
| 7 | SC | -15 bps | 3.82% | 3.96% |
| 8 | PA | -15 bps | 3.94% | 4.09% |
| 9 | NM | -14 bps | 4.00% | 4.14% |
| 10 | VA | -14 bps | 3.82% | 3.95% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 12/27/24-1/3/25
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | AK | 11 bps | 3.96% | 3.84% |
| 2 | AR | 10 bps | 4.42% | 4.32% |
| 3 | KY | 8 bps | 4.04% | 3.96% |
| 4 | ND | 6 bps | 3.99% | 3.93% |
| 5 | LA | 5 bps | 3.90% | 3.85% |
| 6 | OR | 3 bps | 4.04% | 4.01% |
| 7 | MS | 0 bps | 3.92% | 3.92% |
| 8 | CT | 0 bps | 3.94% | 3.95% |
| 9 | UT | -2 bps | 3.61% | 3.62% |
| 10 | AL | -2 bps | 3.91% | 3.93% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 12/27/24-1/3/25 (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 12/27/24-1/3/25 (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 12/27/24-1/3/25 (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 12/27/24-1/3/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 12/27/24 vs. the week ending 1/3/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | WASHINGTON ST-D | 5.000% | 06/01/42 | 21 | 90 | 69 | 329% |
| 2 | MASSACHUSETTS ST-A | 5.000% | 01/01/39 | 26 | 90 | 64 | 246% |
| 3 | UT ST UNIV BRD OF REG | 3.000% | 06/01/35 | 6 | 68 | 62 | 1033% |
| 4 | CONNECTICUT ST-F | 5.000% | 11/15/38 | 34 | 88 | 54 | 159% |
| 5 | UNIV OF KENTUCKY -B | 4.000% | 04/01/39 | 7 | 61 | 54 | 771% |
| 6 | LOS ANGELES DEPT WTR | 5.000% | 07/01/30 | 43 | 95 | 52 | 121% |
| 7 | CA UNIV REV-A-REF | 5.000% | 11/01/31 | 5 | 56 | 51 | 1020% |
| 8 | NY ST URBAN DEV CORP- | 4.000% | 03/15/43 | 36 | 87 | 51 | 142% |
| 9 | OHIO-B | 5.000% | 09/15/27 | 40 | 88 | 48 | 120% |
| 10 | SAN DIEGO CNTY CA REG | 4.000% | 07/01/46 | 5 | 52 | 47 | 940% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 12/27/24 – 1/3/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | E MONTGOMERY IMPT DT | 4.250% | 08/15/54 | 48 |
| 2 | DASNY-A-REF-REV | 5.500% | 07/01/54 | 41 |
| 3 | MONTGOMERY ISD-B | 4.000% | 02/15/54 | 39 |
| 4 | WASHINGTON ST -A | 5.000% | 08/01/48 | 39 |
| 5 | NJ TRANSPRTN TRUST-CC | 4.125% | 06/15/50 | 39 |
| 6 | NYC MUNI WTR FIN-AA1 | 5.250% | 06/15/53 | 39 |
| 7 | NYC MUNI WTR FIN-CC-1 | 4.000% | 06/15/52 | 38 |
| 8 | TRIBOROUGH BRIDGE-A-1 | 5.000% | 05/15/51 | 38 |
| 9 | NJ TRANSPRTN TRUST-CC | 4.125% | 06/15/55 | 37 |
| 10 | MANSFIELD ECON DEV | 4.000% | 08/01/49 | 37 |
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