Municipal Bond Market Summary – Week Ending 2/13/26
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 2/6/26-2/13/26
| Rank | Bond Name | Coupon | Maturity | Dealers |
| 1 | SACRAMENTO USD-C | 5.50% | 08/01/2054 | 17 |
| 2 | KINGS CANYON JT USD-B | 0.00% | 08/01/2039 | 16 |
| 3 | NEW YORK CITY NY TRAN | 3.58% | 08/01/2032 | 3 |
| 4 | PENNSYLVANIA ST UNIV | 2.79% | 09/01/2043 | 6 |
| 5 | MO ST HSG DEV COMM-A | 3.13% | 11/01/2042 | 2 |
| 6 | MIDLAND CO-REF | 3.00% | 09/01/2048 | 2 |
| 7 | MA HSG FIN AGY-222-RE | 2.38% | 12/01/2043 | 2 |
| 8 | UNIV CA TAXABLE-GEN- | 4.86% | 05/15/2012 | 10 |
| 9 | ALBANY CAP RES CORP-D | 4.00% | 11/01/2051 | 2 |
| 10 | SAN ANTONIO-B-WTR | 4.00% | 05/15/2045 | 6 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 2/6/26-2/13/26
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | CALIFORNIA ST MUNI FI | 5.25% | 11/01/2052 | ▼ -2.44% | 101.49 | 104.02 | 2 |
| 2 | WSTRN CAROLINA UNIV | 3.63% | 10/01/2047 | ▼ -2.31% | 86.16 | 88.19 | 2 |
| 3 | WHITE OAK BORO PA | 3.00% | 11/15/2033 | ▼ -2.09% | 98.00 | 100.09 | 2 |
| 4 | SAN MATEO CA UN HIGH | 0.00% | 09/01/2041 | ▼ -2.01% | 107.08 | 109.28 | 3 |
| 5 | UNIV OF NC BRD GOVERN | 3.00% | 02/01/2039 | ▼ -1.65% | 91.78 | 93.32 | 2 |
| 6 | CA MUNI FIN AUTH-A | 3.60% | 11/01/2034 | ▼ -1.63% | 103.76 | 105.48 | 4 |
| 7 | NY ST HSG FIN AGY-C-1 | 4.75% | 11/01/2059 | ▼ -1.53% | 98.84 | 100.37 | 22 |
| 8 | CAPITAL TRUST AUTH-A | 5.00% | 06/01/2064 | ▼ -1.51% | 90.53 | 91.93 | 17 |
| 9 | CO HLTH FACS AUTH-BAM | 4.00% | 08/01/2049 | ▼ -1.51% | 89.40 | 90.77 | 11 |
| 10 | WASHINGTON SUBN SAN | 4.00% | 06/15/2047 | ▼ -1.37% | 98.09 | 99.45 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 2/6/26-2/13/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | SC | ▼ 19 bps | 3.22% | 3.41% |
| 2 | DE | ▼ 13 bps | 2.86% | 2.99% |
| 3 | NJ | ▼ 12 bps | 3.18% | 3.31% |
| 4 | IN | ▼ 12 bps | 3.21% | 3.33% |
| 5 | AL | ▼ 11 bps | 3.46% | 3.56% |
| 6 | ME | ▼ 10 bps | 3.20% | 3.30% |
| 7 | MS | ▼ 10 bps | 3.45% | 3.55% |
| 8 | SD | ▼ 7 bps | 3.21% | 3.28% |
| 9 | OH | ▼ 7 bps | 3.27% | 3.34% |
| 10 | AZ | ▼ 6 bps | 3.25% | 3.31% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 2/6/26-2/13/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | KY | ▲ 11 bps | 3.53% | 3.43% |
| 2 | DC | ▲ 9 bps | 3.24% | 3.15% |
| 3 | WV | ▲ 9 bps | 3.64% | 3.55% |
| 4 | VT | ▲ 7 bps | 3.25% | 3.18% |
| 5 | NC | ▲ 5 bps | 3.03% | 2.98% |
| 6 | CT | ▲ 4 bps | 3.27% | 3.22% |
| 7 | RI | ▲ 4 bps | 3.11% | 3.07% |
| 8 | KS | ▲ 4 bps | 3.33% | 3.29% |
| 9 | NH | ▲ 3 bps | 3.15% | 3.12% |
| 10 | HI | ▲ 2 bps | 3.32% | 3.30% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/6/26-2/13/26 (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 2/6/26-2/13/26 (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 2/6/26-2/13/26 (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 2/6/26-2/13/26
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/6/26 vs. the week ending 2/13/26
| Rank | Tranche | Coupon | Maturity | Prior Week | This Week | Increase | % Increase |
| 1 | ENERGY SOUTHEAST-A | 5.000% | 11/01/35 | 107 | 226 | 119 | 111% |
| 2 | N CAROLINA HSG FIN#48 | 3.500% | 07/01/42 | 4 | 97 | 93 | 2325% |
| 3 | SOUTHEAST ENERGY-H | 5.000% | 11/01/35 | 121 | 207 | 86 | 71% |
| 4 | CONROE ISD-A | 4.000% | 02/15/47 | 25 | 109 | 84 | 336% |
| 5 | LEHIGH CO AUTH-REF | 4.000% | 12/01/45 | 6 | 89 | 83 | 1383% |
| 6 | NORWALK-LA MIRADA CA | 4.000% | 08/01/48 | 11 | 92 | 81 | 736% |
| 7 | NEW YORK ST DORM AUTH | 4.000% | 07/01/50 | 20 | 98 | 78 | 390% |
| 8 | OKLAHOMA WTR RESOURCE | 4.000% | 10/01/43 | 19 | 95 | 76 | 400% |
| 9 | MANSFIELD ISD | 4.000% | 02/15/54 | 42 | 116 | 74 | 176% |
| 10 | ENERGY N W WA-SER A | 5.000% | 07/01/41 | 29 | 102 | 73 | 252% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/6/26-2/13/26
| Rank | Tranche | Coupon | Maturity | Dealers |
| 1 | NY TRANSITIONAL FIN-B | 5.250% | 05/01/48 | 60 |
| 2 | NY TRANSITIONAL FIN-B | 5.000% | 05/01/51 | 60 |
| 3 | TX WTR DEV BRD | 4.750% | 10/15/55 | 58 |
| 4 | BLACK BELT ENERGY GAS | 5.000% | 12/01/35 | 57 |
| 5 | KY PUB ENERGY AUTH-C | 5.000% | 05/01/36 | 55 |
| 6 | NEW YORK-D | 5.250% | 10/01/51 | 53 |
| 7 | NY ST THRUWAY AUTH-A | 5.000% | 01/01/35 | 52 |
| 8 | PROSPER ISD-REF | 5.250% | 02/15/55 | 51 |
| 9 | BOYS TWN VLG -REV | 5.250% | 07/01/55 | 51 |
| 10 | SAN DIEGO UNIF SD-C-3 | 5.000% | 07/01/50 | 49 |
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