Municipal Bond Market Summary – Week Ending 10/10/25
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 10/3/25-10/10/25
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | CHARLOTTE-C-COPS-REF | 3.000% | 06/01/39 | ▲ 6.55% | 88.55 | 83.11 | 2 |
| 2 | SAN FRANCISCO CA CITY | 5.000% | 11/01/35 | ▲ 6.21% | 115.37 | 108.62 | 4 |
| 3 | SAN DIEGO PUB FACS FI | 5.000% | 05/15/49 | ▲ 5.55% | 106.32 | 100.72 | 3 |
| 4 | BENTON AR PUBLIC UTIL | 3.050% | 09/01/36 | ▲ 5.19% | 87.04 | 82.74 | 8 |
| 5 | OREGON ST FACS AUTH R | 2.486% | 10/01/35 | ▲ 4.64% | 82.76 | 79.09 | 2 |
| 6 | COMAL ISD-REF | 5.000% | 02/01/34 | ▲ 4.59% | 111.67 | 106.77 | 3 |
| 7 | NY ST DORM AUTH | 5.000% | 10/01/32 | ▲ 4.52% | 115.17 | 110.18 | 3 |
| 8 | MD CMNTY DEV HSG-A | 3.797% | 03/01/39 | ▲ 3.98% | 92.82 | 89.27 | 20 |
| 9 | FORT BEND CO MUD #30 | 2.000% | 09/01/50 | ▲ 3.90% | 59.92 | 57.67 | 3 |
| 10 | UNIV OF CALIFORNIA CA | 5.000% | 05/15/36 | ▲ 3.68% | 115.75 | 111.64 | 3 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 10/3/25-10/10/25
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | NY MONDEV 4.00 07/01/2050 | 4.000% | 07/01/50 | ▼ -4.96% | 91.28 | 96.04 | 13 |
| 2 | VA NOR 5.00 09/01/2037 | 5.000% | 09/01/37 | ▼ -3.85% | 108.16 | 112.50 | 3 |
| 3 | SC SCSMED 5.25 11/01/2044 | 5.250% | 11/01/44 | ▼ -3.61% | 105.26 | 109.21 | 2 |
| 4 | TX HARUTL 3.00 09/01/2037 | 3.000% | 09/01/37 | ▼ -2.92% | 88.56 | 91.22 | 4 |
| 5 | CA SACAPT 5.00 07/01/2044 | 5.000% | 07/01/44 | ▼ -2.68% | 107.87 | 110.84 | 2 |
| 6 | PA PHIAPT 4.00 07/01/2046 | 4.000% | 07/01/46 | ▼ -2.65% | 91.74 | 94.23 | 2 |
| 7 | NY NAS 4.00 04/01/2047 | 4.000% | 04/01/47 | ▼ -2.40% | 94.10 | 96.42 | 6 |
| 8 | NY MTATRN 4.00 11/15/2045 | 4.000% | 11/15/45 | ▼ -2.30% | 91.54 | 93.70 | 9 |
| 9 | TX TX WICWTR 4 01/10/2026 4.00 01/10/2045 | 4.000% | 01/10/45 | ▼ -1.88% | 90.65 | 92.39 | 2 |
| 10 | FL CTSEDU 5.25 06/01/2064 | 5.250% | 06/01/64 | ▼ -1.88% | 89.64 | 91.36 | 3 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 10/3/25-10/10/25
| Rank | State | Change | YLD | YLD-1W |
| 1 | HI | -22 bps | 3.54% | 3.76% |
| 2 | IN | -21 bps | 3.39% | 3.60% |
| 3 | DC | -20 bps | 3.19% | 3.39% |
| 4 | RI | -18 bps | 3.10% | 3.29% |
| 5 | DE | -14 bps | 2.95% | 3.10% |
| 6 | NH | -12 bps | 3.31% | 3.43% |
| 7 | VT | -11 bps | 3.30% | 3.41% |
| 8 | OH | -11 bps | 3.66% | 3.77% |
| 9 | ND | -10 bps | 3.38% | 3.48% |
| 10 | AZ | -10 bps | 3.39% | 3.48% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 10/3/25-10/10/25
| Rank | State | Change | YLD | YLD-1W |
| 1 | MT | 20 bps | 3.30% | 3.10% |
| 2 | AL | 15 bps | 4.05% | 3.90% |
| 3 | NY | 15 bps | 3.87% | 3.72% |
| 4 | LA | 13 bps | 3.92% | 3.79% |
| 5 | NV | 7 bps | 3.81% | 3.74% |
| 6 | CT | 7 bps | 3.58% | 3.51% |
| 7 | SC | 6 bps | 3.58% | 3.52% |
| 8 | GA | 5 bps | 3.57% | 3.52% |
| 9 | VA | 4 bps | 3.49% | 3.45% |
| 10 | AK | 2 bps | 3.14% | 3.12% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 10/3/25-10/10/25 (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 10/3/25-10/10/25 (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 10/3/25-10/10/25 (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 10/3/25-10/10/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 10/3/25 vs. the week ending 10/10/25
| Rank | Tranche | Coupon | Maturity | Prior Week | This Week | Increase | % Increase |
| 1 | MAIN STREET NATURAL-B | 5.000% | 12/01/52 | 20 | 114 | 94 | 470% |
| 2 | MAIN STREET NATURAL-A | 4.000% | 09/01/52 | 20 | 94 | 74 | 370% |
| 3 | LOS ANGELES ARPT-A | 5.000% | 05/15/30 | 10 | 80 | 70 | 700% |
| 4 | RIVERSIDE SWR REV-A | 5.000% | 08/01/26 | 11 | 75 | 64 | 582% |
| 5 | RIVERSIDE SWR REV-A | 5.000% | 08/01/27 | 12 | 75 | 63 | 525% |
| 6 | GEORGETOWN ISD-REF | 5.500% | 02/15/36 | 4 | 67 | 63 | 1575% |
| 7 | LA CO CA PUB WKS-A | 4.000% | 12/01/43 | 95 | 157 | 62 | 65% |
| 8 | LOS ANGELES CMNTY CLG | 5.000% | 08/01/27 | 38 | 100 | 62 | 163% |
| 9 | PVT CLG UNIV AUTH-A | 5.250% | 09/01/44 | 83 | 145 | 62 | 75% |
| 10 | CENTRL PLAINS ENERGY | 5.000% | 05/01/53 | 60 | 120 | 60 | 100% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 10/3/25-10/10/25
| Rank | Tranche | Coupon | Maturity | Dealers |
| 1 | LOS ANGELES UNIF-A-1 | 5.000% | 07/01/49 | 54 |
| 2 | PARKER CO JUNIOR CLG | 5.000% | 08/01/55 | 52 |
| 3 | DEKALB CO-A-REV | 5.000% | 10/01/55 | 52 |
| 4 | CA ST UNIV-A-REF | 5.250% | 11/01/50 | 49 |
| 5 | MIAMI-DADE CO-A | 4.000% | 07/01/49 | 48 |
| 6 | PARKER CO JUNIOR CLG | 5.250% | 08/01/50 | 47 |
| 7 | LONG BEACH CLG DT-E | 5.000% | 08/01/52 | 45 |
| 8 | NEW YORK A-1 | 5.000% | 08/01/50 | 44 |
| 9 | PUB FIN AUTH-AMT | 5.750% | 06/30/60 | 44 |
| 10 | NYC TRANSIT FIN-F-1 | 5.000% | 02/01/48 | 44 |
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