Municipal Bond Market Summary – Week Ending 5/22/26
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 5/15/26-5/22/26
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | CALIFORNIA ST-CQ | 4.000% | 12/01/47 | ▲ 1.48% | 99.47 | 98.02 | 2 |
| 2 | WHITNEY ISD-BLDG | 3.625% | 08/15/35 | ▲ 1.19% | 98.86 | 97.70 | 2 |
| 3 | PACIFIC CA UNION SCH | 3.500% | 08/01/43 | ▲ 1.00% | 92.73 | 91.82 | 2 |
| 4 | ARLINGTON TX HGR EDU | 5.000% | 06/15/51 | ▲ 0.86% | 81.33 | 80.63 | 9 |
| 5 | NEW YORK ST LIBERTY D | 2.750% | 02/15/44 | ▲ 0.78% | 78.33 | 77.72 | 2 |
| 6 | CVI-SUBSER CW NT | 0.000% | 11/01/43 | ▲ 0.70% | 69.03 | 68.55 | 9 |
| 7 | WOODLAND HILLS SD-REF | 4.125% | 09/01/44 | ▲ 0.68% | 97.97 | 97.30 | 3 |
| 8 | IL ST FIN AUTH-REF-A | 3.500% | 02/15/33 | ▲ 0.52% | 99.59 | 99.08 | 3 |
| 9 | CLEMSON UNIV-B-HGR | 2.750% | 05/01/28 | ▲ 0.41% | 99.41 | 99.00 | 2 |
| 10 | PHILADELPHIA INDL DEV | 4.000% | 11/01/36 | ▲ 0.36% | 99.09 | 98.74 | 2 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 5/15/26-5/22/26
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | HAWAII ST-FZ | 2.215% | 08/01/37 | ▼ -3.53% | 75.63 | 78.40 | 2 |
| 2 | ANTELOPE CCD-D-CABS | 0.000% | 08/01/45 | ▼ -3.25% | 40.69 | 42.06 | 2 |
| 3 | CHICAGO O’HARE ARPT-C | 4.472% | 01/01/49 | ▼ -3.21% | 84.50 | 87.31 | 2 |
| 4 | UNIV WA UNIV GEN-SER | 3.125% | 07/01/42 | ▼ -3.15% | 83.45 | 86.16 | 2 |
| 5 | CLL MUD#1 | 4.250% | 09/01/51 | ▼ -3.12% | 91.84 | 94.80 | 6 |
| 6 | OLIVENHAIN WTR DIST-A | 3.000% | 06/01/39 | ▼ -2.83% | 88.17 | 90.75 | 2 |
| 7 | NEW JERSEY ST TRANSPR | 3.500% | 06/15/46 | ▼ -2.80% | 84.17 | 86.60 | 7 |
| 8 | ARIZONA IDA-A | 4.000% | 07/01/51 | ▼ -2.78% | 81.56 | 83.89 | 2 |
| 9 | SALES TAX SECURITIZAT | 3.820% | 01/01/48 | ▼ -2.71% | 76.86 | 79.00 | 2 |
| 10 | MO DEV FIN BRD-D | 3.375% | 06/01/41 | ▼ -2.64% | 90.39 | 92.84 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 5/15/26-5/22/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | LA | ▼ -5 bps | 3.63% | 3.67% |
| 2 | IN | ▼ -3 bps | 4.15% | 4.18% |
| 3 | CT | ▼ -2 bps | 3.68% | 3.70% |
| 4 | AR | — 0 bps | 3.73% | 3.73% |
| 5 | AK | ▲ +2 bps | 3.26% | 3.24% |
| 6 | NE | ▲ +2 bps | 3.77% | 3.75% |
| 7 | MD | ▲ +3 bps | 3.35% | 3.32% |
| 8 | WI | ▲ +3 bps | 3.84% | 3.80% |
| 9 | TN | ▲ +3 bps | 3.80% | 3.77% |
| 10 | CO | ▲ +3 bps | 3.55% | 3.52% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 5/15/26-5/22/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | KY | ▲ 22 bps | 3.94% | 3.72% |
| 2 | NM | ▲ 22 bps | 3.50% | 3.28% |
| 3 | NV | ▲ 19 bps | 3.71% | 3.51% |
| 4 | ND | ▲ 19 bps | 3.79% | 3.61% |
| 5 | FL | ▲ 18 bps | 3.62% | 3.44% |
| 6 | OK | ▲ 16 bps | 3.89% | 3.73% |
| 7 | OR | ▲ 16 bps | 3.76% | 3.60% |
| 8 | GA | ▲ 15 bps | 3.46% | 3.30% |
| 9 | RI | ▲ 15 bps | 3.63% | 3.49% |
| 10 | MI | ▲ 14 bps | 3.90% | 3.77% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 5/15/26-5/22/26 (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 5/15/26-5/22/26 (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 5/15/26-5/22/26 (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 5/15/26-5/22/26
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 5/15/26 vs. the week ending 5/22/26
| Rank | Tranche | Coupon | Maturity | Prior Week | This Week | Increase | % Increase |
| 1 | CARY TWN-B-REF | 4.000% | 12/01/42 | 17 | 92 | ▲ 75 | 441% |
| 2 | MA CMNWLTH-B | 5.000% | 02/01/41 | 52 | 119 | ▲ 67 | 129% |
| 3 | MESQUITE INDEP SCH | 5.000% | 08/15/43 | 44 | 100 | ▲ 56 | 127% |
| 4 | TRIBOROUGH BRIDGE -A | 5.000% | 05/15/54 | 12 | 67 | ▲ 55 | 458% |
| 5 | TEXAS ST WTR DEV BRD | 4.000% | 10/15/42 | 11 | 61 | ▲ 50 | 455% |
| 6 | TX MUNI GAS ACQ VI | 5.000% | 01/01/36 | 50 | 99 | ▲ 49 | 98% |
| 7 | MA DEV FIN AGY-B-2 | 4.000% | 10/01/48 | 10 | 58 | ▲ 48 | 480% |
| 8 | MA DEV FIN AGY-H | 5.000% | 07/01/31 | 3 | 51 | ▲ 48 | 1600% |
| 9 | FRENSHIP ISD | 5.000% | 02/15/55 | 56 | 101 | ▲ 45 | 80% |
| 10 | TRIBOROUGH BRIDGE-C | 5.250% | 11/15/42 | 10 | 53 | ▲ 43 | 430% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 5/15/26-5/22/26
| Rank | Tranche | Coupon | Maturity | Dealers |
| 1 | NY ST TWY AUTH-A | 5.000% | 03/15/53 | 42 |
| 2 | N TEXAS MUNI WTR DT | 5.000% | 09/01/55 | 38 |
| 3 | NASHVILLE & DAVIDSON | 5.000% | 01/01/35 | 38 |
| 4 | AUSTIN-B-REV-AMT | 5.000% | 11/15/56 | 37 |
| 5 | MASSACHUSETTS ST DEV FIN AGY | 4.000% | 02/15/36 | 34 |
| 6 | N CAROLINA TPK AUTH-A | 5.000% | 01/01/58 | 34 |
| 7 | CHICAGO-A | 5.250% | 01/01/56 | 34 |
| 8 | NJ TRANSPRTN TRUST-A | 4.000% | 06/15/39 | 33 |
| 9 | PA ECO DEV FING-A | 5.000% | 12/15/56 | 33 |
| 10 | PA ECO DEV FING-A-AG | 4.500% | 12/15/51 | 33 |
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