Market Summary
February 2026

Municipal Bond Market Summary – Week Ending 1/30/26

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 1/23/26-1/30/26

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 WILLOUGHBY-EASTLAKE O 3.750% 12/01/41 ▲ 3.81% 96.34 92.80 2
2 DERRY TWP-C 3.000% 12/15/35 ▲ 3.60% 97.82 94.42 3
3 SALES TAX SECURITIZTN 3.411% 01/01/43 ▲ 3.49% 80.55 77.83 6
4 PARKER WTR & SAN DT 4.000% 11/01/52 ▲ 3.20% 93.34 90.45 2
5 NATIONAL PARK CMNTY 3.750% 03/01/48 ▲ 3.09% 89.62 86.94 2
6 KENTUCKY BOND CORP 3.000% 02/01/46 ▲ 2.99% 78.97 76.67 3
7 UNIV OF ILLINOIS-A 4.000% 04/01/43 ▲ 2.96% 99.67 96.81 2
8 KAUFMAN CO MUD #3-A 4.000% 03/01/42 ▲ 2.91% 98.93 96.14 2
9 AMERICAN MUN PWR OH 7.834% 02/15/41 ▲ 2.84% 120.67 117.33 4
10 OAK PARK SD-III 4.125% 11/01/48 ▲ 2.72% 96.52 93.97 2

Bottom 10 Performers

Showcases the bottom 10 Muni Bond performers based on price movements between 1/16/26-1/23/26

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 FLYING HORSE MET DT-A 4.000% 12/01/50 ▼ -3.12% 91.47 94.42 4
2 GEORGIA ST HSG & FIN 3.550% 12/01/39 ▼ -2.65% 95.49 98.09 2
3 SPARTANBURG REGL HLTH 4.000% 04/15/45 ▼ -2.49% 94.58 97.00 2
4 N ESTRN LOCAL SD-A 3.750% 11/01/54 ▼ -2.36% 85.68 87.74 2
5 SANGER FIN AUTH-A 4.000% 02/01/40 ▼ -2.07% 91.94 93.87 2
6 NEW YORK CITY NY HSG 3.150% 11/01/36 ▼ -2.06% 95.64 97.66 3
7 BETHLEHEM AREA SCH DI 3.000% 02/01/36 ▼ -2.02% 96.13 98.11 2
8 TOLEDO LUCAS PORT-A 4.000% 11/15/42 ▼ -2.02% 90.14 91.99 2
9 CROWLEY ISD 4.250% 02/01/54 ▼ -1.98% 96.05 97.99 2
10 LEHIGH CO AUTH WTR 3.232% 12/01/50 ▼ -1.97% 66.99 68.33 2

Top 10 State Performers

Showcases the top 10 Muni State performers based on yield movements between 1/23/26-1/30/26

Rank State Change YLD YLD-1W
1 DC ▼ 27 bps 3.14% 3.42%
2 AK ▼ 17 bps 3.33% 3.50%
3 RI ▼ 12 bps 3.10% 3.22%
4 CO ▼ 12 bps 3.39% 3.50%
5 NE ▼ 11 bps 3.29% 3.40%
6 SC ▼ 11 bps 3.21% 3.31%
7 IL ▼ 10 bps 3.60% 3.70%
8 KS ▼ 10 bps 3.40% 3.50%
9 VA ▼ 10 bps 3.12% 3.22%
10 MT ▼ 9 bps 3.31% 3.40%

Bottom 10 State Performers

Showcases the bottom 10 Muni State performers based on yield movements between 1/23/26-1/30/26

Rank State Change YLD YLD-1W
1 NM ▲ 7 bps 3.41% 3.34%
2 AR ▲ 5 bps 3.55% 3.50%
3 DE ▲ 4 bps 3.04% 2.99%
4 AL ▲ 4 bps 3.68% 3.64%
5 NH ▲ 4 bps 3.21% 3.17%
6 MS ▲ 4 bps 3.66% 3.62%
7 OH ▲ 3 bps 3.40% 3.37%
8 OR ▲ 2 bps 3.34% 3.32%
9 SD ▲ 2 bps 3.35% 3.32%
10 MD ▲ 2 bps 3.03% 3.02%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 1/23/26-1/30/26 (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 1/23/26-1/30/26 (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 1/23/26-1/30/26 (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 1/23/26-1/30/26

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 1/23/26 vs. the week ending 1/30/26

Rank Tranche Coupon Maturity Prior Week This Week Increase % Increase
1 WASHINGTON ST-R-2026A 5.000% 07/01/38 20 116 96 480%
2 OK WTR RESOURCES BRD 5.250% 04/01/55 58 150 92 159%
3 NEW YORK CITY -C 4.000% 08/01/37 42 115 73 174%
4 CALIFORNIA 3.000% 10/01/49 22 93 71 323%
5 MET TRANS AUTH NY DED 4.000% 11/15/43 10 79 69 690%
6 LANCASTER ISD-B-REF 5.000% 02/15/32 1 69 68 6800%
7 SALT RIVER-A-REF 5.000% 01/01/43 39 106 67 172%
8 NY TRANSITIONAL FIN-B 5.000% 05/01/45 103 169 66 64%
9 LAS VEGAS NV NEW CONV 3.000% 07/01/38 10 74 64 640%
10 BLACK BELT ENERGY GAS 5.000% 12/01/35 163 227 64 39%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 1/23/26-1/30/26

Rank Tranche Coupon Maturity Dealers
1 TX WTR DEV BRD 4.750% 10/15/55 63
2 NY TRANSITIONAL FIN-B 5.000% 05/01/51 57
3 NY TRANSITIONAL FIN-B 5.250% 05/01/48 56
4 PROSPER ISD-REF 5.250% 02/15/55 54
5 SAN DIEGO UNIF SD-C-3 5.000% 07/01/50 51
6 NEW YORK-D 5.250% 10/01/51 50
7 BLACK BELT ENERGY GAS 5.000% 12/01/35 48
8 MIAMI-DADE CO-A 5.000% 10/01/55 48
9 KY PUB ENERGY AUTH-C 5.000% 05/01/36 47
10 OHIO ST UNIV-A-REF 5.000% 06/01/35 47


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