Municipal Bond Market Summary – Week Ending 2/20/26
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 2/13/26-2/20/26
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | ST CHARLES-B-TXBL-REF | 2.650% | 12/01/38 | ▲ 3.24% | 80.85 | 78.31 | 7 |
| 2 | CO HLTH FACS AUTH-BAM | 4.000% | 08/01/49 | ▲ 3.19% | 92.25 | 89.40 | 19 |
| 3 | FOREST LK ISD #831-B | 3.625% | 02/01/42 | ▲ 3.15% | 99.67 | 96.62 | 2 |
| 4 | UT CHRT SCH FIN-REF | 3.875% | 04/15/41 | ▲ 3.14% | 95.93 | 93.01 | 2 |
| 5 | HILLSBOROUGH SVCS TAX | 3.750% | 10/01/45 | ▲ 3.08% | 93.21 | 90.43 | 4 |
| 6 | GRIFFITH SANTN DIST | 3.000% | 08/01/35 | ▲ 2.97% | 98.21 | 95.38 | 2 |
| 7 | FRANKLIN CO PA | 3.000% | 11/01/39 | ▲ 2.95% | 92.08 | 89.44 | 4 |
| 8 | SOLANA BEACH SD-B | 3.000% | 08/01/41 | ▲ 2.93% | 96.19 | 93.45 | 2 |
| 9 | MICHIGAN ST HSG DEV A | 4.050% | 10/01/48 | ▲ 2.90% | 93.70 | 91.06 | 2 |
| 10 | UNIV OF NE FACS-B | 3.250% | 05/15/43 | ▲ 2.88% | 91.71 | 89.15 | 2 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 2/13/26-2/20/26
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | FAYETTE GAS BRD | 3.000% | 04/01/40 | ▼ -2.72% | 86.84 | 89.27 | 2 |
| 2 | CA ENTERPRISE DE | 4.000% | 08/01/40 | ▼ -2.18% | 103.01 | 105.31 | 17 |
| 3 | HAYWARD CO REC | 3.625% | 08/01/42 | ▼ -1.79% | 97.24 | 99.01 | 2 |
| 4 | GREEN LSD -COP – | 4.250% | 12/01/52 | ▼ -1.74% | 96.57 | 98.27 | 3 |
| 5 | NEW MEXICO ST H | 3.000% | 08/01/48 | ▼ -1.24% | 73.55 | 74.47 | 2 |
| 6 | CHILLICOTHE SD-A | 3.500% | 12/01/53 | ▼ -1.20% | 79.77 | 80.74 | 2 |
| 7 | CHARLESTON ARP | 5.000% | 07/01/49 | ▼ -1.18% | 104.87 | 106.12 | 5 |
| 8 | GAINESVILLE HOSP | 3.750% | 02/15/42 | ▼ -1.16% | 98.28 | 99.44 | 2 |
| 9 | OHIO TPK & INFRA | 5.000% | 02/15/46 | ▼ -1.16% | 104.96 | 106.19 | 3 |
| 10 | GA HSG & FIN AUTH | 5.050% | 12/01/43 | ▼ -1.13% | 104.52 | 105.72 | 4 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 2/13/26-2/20/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | MS | ▼ -26 bps | 3.19% | 3.45% |
| 2 | MT | ▼ -22 bps | 3.20% | 3.42% |
| 3 | VT | ▼ -19 bps | 3.05% | 3.25% |
| 4 | CO | ▼ -14 bps | 3.27% | 3.40% |
| 5 | SC | ▼ -13 bps | 3.08% | 3.22% |
| 6 | UT | ▼ -12 bps | 3.04% | 3.16% |
| 7 | KY | ▼ -12 bps | 3.41% | 3.53% |
| 8 | DC | ▼ -12 bps | 3.13% | 3.25% |
| 9 | ND | ▼ -10 bps | 3.12% | 3.22% |
| 10 | WV | ▼ -10 bps | 3.55% | 3.64% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 2/13/26-2/20/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | AR | ▲ 15 bps | 3.75% | 3.59% |
| 2 | MD | ▲ 13 bps | 3.12% | 2.98% |
| 3 | VA | ▲ 10 bps | 3.00% | 2.91% |
| 4 | GA | ▲ 9 bps | 3.10% | 3.00% |
| 5 | NE | ▲ 4 bps | 3.15% | 3.11% |
| 6 | IN | ▲ 3 bps | 3.21% | 3.18% |
| 7 | PA | ▲ 2 bps | 3.42% | 3.40% |
| 8 | FL | ▲ 2 bps | 3.23% | 3.22% |
| 9 | TN | ▲ 2 bps | 3.26% | 3.25% |
| 10 | NJ | ▲ 2 bps | 3.20% | 3.19% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/13/26-2/20/26 (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 2/13/26-2/20/26 (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 2/13/26-2/20/26 (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 2/13/26-2/20/26
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/13/26 vs. the week ending 2/20/26
| Rank | Tranche | Coupon | Maturity | Prior Week | This Week | Increase | % Increase |
| 1 | PORT NECHES-GROVES | 4.500% | 02/15/56 | 23 | 102 | 79 | 343% |
| 2 | NEW YORK ST TRANSPRTN | 5.000% | 06/30/49 | 22 | 95 | 73 | 332% |
| 3 | CALIFORNIA ST-REF | 3.000% | 09/01/30 | 31 | 100 | 69 | 223% |
| 4 | GRAND FORKS-A-REV | 5.000% | 12/01/53 | 54 | 110 | 56 | 104% |
| 5 | PORT NECHES-GROVES | 5.000% | 02/15/46 | 20 | 74 | 54 | 270% |
| 6 | CA ST PUB WKS-C-REF | 5.000% | 09/01/35 | 15 | 68 | 53 | 353% |
| 7 | TUALATIN VLY WTR | 5.000% | 06/01/54 | 3 | 56 | 53 | 1767% |
| 8 | LIBERTY HILL ISD | 4.375% | 02/01/50 | 26 | 79 | 53 | 204% |
| 9 | MO HLTH & EDUCTNL-A | 5.000% | 06/15/40 | 5 | 56 | 51 | 1020% |
| 10 | NORCO CMNTY REDEV-B | 3.752% | 03/01/36 | 7 | 58 | 51 | 729% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/13/26-2/20/26
| Rank | Tranche | Coupon | Maturity | Dealers |
| 1 | NY TRANSITIO | 5.000% | 05/01/51 | 60 |
| 2 | BLACK BELT E | 5.000% | 12/01/35 | 60 |
| 3 | NY TRANSITIO | 5.250% | 05/01/48 | 58 |
| 4 | KY PUB ENER | 5.000% | 05/01/36 | 55 |
| 5 | BOYS TWN VL | 5.250% | 07/01/55 | 52 |
| 6 | NEW YORK-D | 5.250% | 10/01/51 | 51 |
| 7 | NY ST THRUW | 5.000% | 01/01/35 | 51 |
| 8 | CA REGENTS U | 5.000% | 05/15/36 | 51 |
| 9 | BLACK BELT E | 5.000% | 10/01/35 | 50 |
| 10 | NYC MUNI WT | 5.000% | 06/15/56 | 50 |
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