Market Summary
January 2026

Municipal Bond Market Summary – Week Ending 1/16/26

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 1/9/26-1/16/26

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 PORT AUTH NYS & NJ T 4.926% 10/01/51 ▲ 3.49% 94.10 90.93 4
2 STAFFORD SD-UNREFD 4.000% 08/15/48 ▲ 3.46% 95.60 92.40 2
3 OSCEOLA CNTY FL TRANS 0.000% 10/01/44 ▲ 2.92% 40.14 39.00 5
4 MA HSG FIN AGY 3.100% 12/01/44 ▲ 2.90% 84.54 82.15 7
5 CHARTIERS VALLEY SD 3.000% 10/15/49 ▲ 2.82% 75.74 73.66 2
6 MONTGOMERY CO MUD#121 2.000% 09/01/43 ▲ 2.82% 66.30 64.49 2
7 CLG OF THE MAINLAND 3.750% 08/15/49 ▲ 2.76% 85.83 83.53 2
8 SOMERVILLE 3.000% 06/01/35 ▲ 2.67% 99.47 96.88 2
9 NEW YORK ST HSG FIN A 3.150% 11/01/54 ▲ 2.65% 77.06 75.07 2
10 KAUFMAN CNTY FRESH 3.000% 09/01/39 ▲ 2.65% 88.53 86.24 2

Bottom 10 Performers

Showcases the bottom 10 Muni Bond performers based on price movements between 1/9/26-1/16/26

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 NY ST EV-D 3.751% 01/15/47 ▼ -3.15% 80.74 83.37 6
2 WALLER CO DT#1-BAM 3.000% 03/01/50 ▼ -3.07% 71.92 74.20 13
3 PUB FIN AUTH-A-1 5.000% 01/01/56 ▼ -2.74% 82.84 85.17 4
4 NYC TRANSITIONAL-A-1 5.000% 05/01/54 ▼ -2.41% 103.10 105.64 5
5 BEEVILLE-CTFS OBLI 4.250% 08/15/48 ▼ -2.39% 94.12 96.43 4
6 SANTA ROSA ELEM SD -A 4.000% 08/01/53 ▼ -2.21% 93.43 95.55 2
7 UNIV OF N DAKOTA 4.000% 06/01/46 ▼ -2.19% 93.19 95.28 4
8 WEST VIRGINIA ST UNIV 4.000% 10/01/47 ▼ -2.18% 94.50 96.61 2
9 NC MED CARE MED CARE 4.000% 03/01/51 ▼ -2.18% 80.88 82.69 6
10 REDFORD UN SCHS DT #1 4.125% 11/01/47 ▼ -1.99% 95.34 97.28 2

Top 10 State Performers

Showcases the top 10 Muni State performers based on yield movements between 1/9/26-1/16/26

Rank State Change YLD YLD-1W
1 DE -15 bps 2.92% 3.06%
2 ME -14 bps 3.26% 3.40%
3 HI -12 bps 3.21% 3.33%
4 KS -11 bps 3.41% 3.52%
5 NJ -8 bps 3.30% 3.39%
6 SD -7 bps 3.45% 3.52%
7 MD -7 bps 3.05% 3.12%
8 NV -6 bps 3.19% 3.25%
9 VA -5 bps 3.27% 3.32%
10 WA -5 bps 3.45% 3.50%

Bottom 10 State Performers

Showcases the bottom 10 Muni State performers based on yield movements between 1/9/26-1/16/26

Rank State Change YLD YLD-1W
1 AK 21 bps 3.50% 3.29%
2 KY 11 bps 3.50% 3.39%
3 NM 9 bps 3.38% 3.28%
4 NY 9 bps 3.48% 3.39%
5 DC 6 bps 3.31% 3.24%
6 IL 5 bps 3.64% 3.59%
7 MA 5 bps 3.44% 3.39%
8 NH 4 bps 3.18% 3.14%
9 IN 4 bps 3.20% 3.16%
10 AL 4 bps 3.68% 3.63%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 1/9/26-1/16/26 (General Obligation and Revenue Bonds). Results are based on 6 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 1/9/26-1/16/26 (General Obligation Bonds only). Results are based on 6 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 1/9/26-1/16/26 (Revenue Bonds only). Results are based on 6 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 1/9/26-1/16/26

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 1/9/26 vs. the week ending 1/16/26

Rank Tranche Coupon Maturity Prior Week This Week Increase % Increase
1 NEW YORK -A-1 4.000% 08/01/40 49 144 95 194%
2 CO CT HLTH AUTH-V 5.000% 07/01/36 26 116 90 346%
3 NEW YORK -A-1 4.000% 08/01/39 79 168 89 113%
4 CALIFORNIA ST 3.000% 12/01/49 18 106 88 489%
5 NYC TRANS FIN-E-1 4.000% 02/01/38 66 149 83 126%
6 WYANDOTTE CO UNIF SD 5.000% 09/01/50 5 85 80 1600%
7 CERRITOS CA CMNTY CLG 3.000% 08/01/44 11 89 78 709%
8 CALIFORNIA ST 3.000% 12/01/46 14 91 77 550%
9 CALIFORNIA ST 3.000% 11/01/40 35 112 77 220%
10 TUALATIN VLY WTR DIST 5.000% 06/01/53 15 90 75 500%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 1/9/26-1/16/26

Rank Tranche Coupon Maturity Dealers
1 TX WTR DEV BRD 4.750% 10/15/55 56
2 OK WTR RESOURCES-C 4.500% 10/01/55 50
3 MIAMI-DADE CO-A 5.000% 10/01/55 50
4 CA REGENTS UNIV-CD 5.000% 05/15/36 50
5 MIAMI-DADE CO-A 4.500% 10/01/51 46
6 BATTERY PARK-REF 5.000% 11/01/50 46
7 PROSPER ISD-REF 5.250% 02/15/55 45
8 BATTERY PARK-REF 5.250% 11/01/55 45
9 AUSTIN ELEC UTIL-REF 5.000% 11/15/55 45
10 NEW YORK MUNI-AA-1 5.000% 06/15/55 44

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