Market Summary
May 2026

Municipal Bond Market Summary – Week Ending 5/1/26

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 4/24/26-5/1/26

Rank Bond Name Coupon Maturity Dealers
1 CVI-HTA 98 SR CLAIM 0.000% 11/01/51 2
2 CA ST FIN AUTH-A 4.000% 06/01/61 7
3 FAIRFAX INDL DEV-A 4.000% 05/15/48 9
4 NJ TPK AUTH -B -REV 4.125% 01/01/54 2
5 PA ECON DEV FING AUTH 4.000% 02/15/41 2
6 PA HGR EDUCTNL FACS 4.000% 08/15/45 2
7 NEW YORK ST PWR AUTH 4.000% 11/15/61 15
8 AUSTIN-CTFS OBLIG 5.000% 09/01/41 3
9 HOUSTON-B-REF-AMT 5.500% 07/15/35 2
10 NJ HLTH CARE FACS-A 5.500% 07/01/43 8

Bottom 10 Performers

Showcases the bottom 10 Muni Bond performers based on price movements between 4/24/26-5/1/26

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 LIBERTY CO-CTFS OBLIG 4.500% 08/01/52 ▼ -2.99% 97.86 100.87 2
2 MONTGOMERY CNTY PA HG 4.000% 09/01/49 ▼ -2.70% 86.46 88.86 3
3 BELL CO-CTFS OBLIG 4.000% 02/15/44 ▼ -2.56% 96.41 98.94 2
4 MA DEV FIN AGY-E-OLIN 4.000% 11/01/43 ▼ -1.79% 91.49 93.16 2
5 LOS ANGELES DEPT-C 5.000% 07/01/45 ▼ -1.79% 104.90 106.82 2
6 YAMHILL CNTY-REV-REF 4.000% 12/01/46 ▼ -1.66% 95.25 96.85 4
7 GAINESVILLE & HALL-A 2.500% 02/15/51 ▼ -1.65% 63.19 64.26 4
8 CLEVELAND CO SD-REF 4.375% 02/01/51 ▼ -1.63% 97.56 99.17 4
9 BRENTWOOD SD 3.000% 03/01/40 ▼ -1.52% 88.67 90.03 2
10 YUBA CCD-REF 3.000% 08/01/35 ▼ -1.42% 95.02 96.39 2

Top 10 State Performers

Showcases the top 10 Muni State performers based on yield movements between 4/24/26-5/1/26

Rank State Change YLD YLD-1W
1 FL ▼ -9 bps 3.28% 3.37%
2 WI ▼ -9 bps 3.58% 3.66%
3 NV ▼ -5 bps 3.29% 3.34%
4 HI ▼ -4 bps 4.81% 4.85%
5 KY ▼ -4 bps 3.51% 3.55%
6 GA ▼ -3 bps 3.19% 3.22%
7 KS ▼ -3 bps 3.48% 3.50%
8 MI ▼ -1 bps 3.75% 3.76%
9 NE 0 bps 3.75% 3.75%
10 OH ▲ 1 bps 3.73% 3.72%

Bottom 10 State Performers

Showcases the bottom 10 Muni State performers based on yield movements between 4/24/26-5/1/26

Rank State Change YLD YLD-1W
1 OR ▲ 28 bps 3.88% 3.60%
2 OK ▲ 26 bps 3.41% 3.15%
3 NY ▲ 23 bps 4.44% 4.21%
4 MA ▲ 19 bps 3.64% 3.46%
5 IN ▲ 18 bps 4.10% 3.92%
6 SC ▲ 16 bps 3.54% 3.38%
7 IL ▲ 15 bps 3.98% 3.83%
8 TN ▲ 15 bps 3.55% 3.39%
9 DE ▲ 15 bps 3.16% 3.01%
10 VA ▲ 14 bps 3.55% 3.41%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 4/24/26-5/1/26 (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 4/24/26-5/1/26 (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 4/24/26-5/1/26 (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 4/24/26-5/1/26

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 4/24/26 vs. the week ending 5/1/26

Rank Tranche Coupon Maturity Prior Week This Week Increase % Increase
1 CA ENTERPRISE DEV-A 5.250% 11/01/49 50 144 ▲ 94 188%
2 POWAY CALIF UNI SCH DIST CAP APPREC-SCH FACS IMPT 0.000% 08/01/40 46 103 ▲ 57 124%
3 MIAMI-DADE CO EDU-A 5.250% 04/01/48 11 61 ▲ 50 455%
4 MET GOVT NASHVILLE & 5.250% 10/01/58 59 105 ▲ 46 78%
5 IN FIN AUTH-D-3-REF 5.000% 10/01/59 11 57 ▲ 46 418%
6 ILLINOIS ST-C 5.250% 04/01/43 65 110 ▲ 45 69%
7 HAMPTON ROADS TRANSPR 4.000% 07/01/57 14 57 ▲ 43 307%
8 WALLER ISD 5.000% 02/15/46 10 50 ▲ 40 400%
9 TRINITY RIV AUTH TEX DENTON CR 5.000% 02/01/40 75 113 ▲ 38 51%
10 ILLINOIS ST 5.000% 11/01/29 31 64 ▲ 33 106%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 4/24/26-5/1/26

Rank Tranche Coupon Maturity Dealers
1 BLACK BELT ENERGY-A 5.000% 12/01/34 43
2 NY ST TWY AUTH-A 5.000% 03/15/53 42
3 NYC MUNI WTR FIN-DD 5.000% 06/15/46 41
4 N CAROLINA TPK AUTH-A 5.000% 01/01/58 36
5 CHICAGO-A 5.250% 01/01/56 36
6 NYC MUNI WTR FIN-BB 5.000% 06/15/56 36
7 N TEXAS MUNI WTR DT 5.000% 09/01/55 35
8 MN MUNI GAS AGY-A 5.000% 09/01/35 35
9 PA ECO DEV FING-A-AG 4.500% 12/15/51 32
10 NJ TRANSPRTN TRUST-A 4.000% 06/15/39 32


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