Municipal Bond Market Summary – Week Ending 9/25/26
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 9/18/26-9/25/26
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | BUILD NYC RESOURCE CO | 5.000% | 07/01/41 | ▲ 1.72% | 92.70 | 91.13 | 2 |
| 2 | NYS DORM AUTH ST PER | 5.600% | 03/15/40 | ▲ 1.49% | 100.07 | 98.60 | 2 |
| 3 | HIGHLINE SD #401 | 4.000% | 12/01/36 | ▲ 1.04% | 97.13 | 96.12 | 3 |
| 4 | UNIV OF CA-J-REF-TXBL | 4.131% | 05/15/45 | ▲ 1.01% | 87.49 | 86.61 | 3 |
| 5 | NY TRANSITIONAL FIN-B | 5.000% | 05/01/46 | ▲ 0.76% | 100.84 | 100.07 | 10 |
| 6 | ARIZONA INDL DEV AUTH | 5.000% | 07/01/55 | ▲ 0.55% | 81.18 | 80.74 | 2 |
| 7 | DENVER WSTWTR MGMT | 3.250% | 11/01/43 | ▲ 0.51% | 80.04 | 79.63 | 2 |
| 8 | ILLINOIS ST-A-REV | 5.000% | 06/15/45 | ▲ 0.29% | 99.46 | 99.17 | 2 |
| 9 | WA HLTH-OVERLAKE HOSP | 5.000% | 07/01/38 | ▲ 0.22% | 98.54 | 98.32 | 2 |
| 10 | HAWAII-TXBL-GQ | 5.029% | 10/01/39 | ▲ 0.11% | 95.21 | 95.11 | 5 |
Bottom 10 Performers
Showcases the bottom 10 Muni Bond performers based on price movements between 9/18/26-9/25/26
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | PRATTVILLE-A-SWR WTS | 3.500% | 11/01/47 | ▼ -6.97% | 71.32 | 76.67 | 2 |
| 2 | N TEXAS TOLLWY AUTH-B | 4.000% | 01/01/41 | ▼ -6.89% | 83.95 | 90.16 | 2 |
| 3 | DENVER CO CITY & CNT | 4.000% | 11/15/43 | ▼ -6.63% | 85.43 | 91.49 | 4 |
| 4 | AR DEV FIN AUTH | 3.200% | 12/01/49 | ▼ -6.61% | 64.66 | 69.24 | 2 |
| 5 | CLACKAMAS CO HSG-A | 4.000% | 09/01/49 | ▼ -6.33% | 77.83 | 83.08 | 2 |
| 6 | NEW MEXICO ST HOSP EQ | 3.000% | 08/01/48 | ▼ -6.12% | 63.42 | 67.56 | 3 |
| 7 | CALIFORNIA ST | 3.000% | 03/01/50 | ▼ -6.05% | 67.21 | 71.53 | 3 |
| 8 | NORTH CAROLINA ST MED | 4.000% | 11/01/52 | ▼ -6.04% | 76.60 | 81.52 | 5 |
| 9 | NEW YORK NY-B-1 | 3.000% | 10/01/44 | ▼ -5.97% | 69.15 | 73.54 | 5 |
| 10 | MISSOURI ST HLTH & ED | 4.000% | 02/15/49 | ▼ -5.82% | 78.39 | 83.23 | 2 |
Top 10 State Performers
Showcases the top 10 Muni State performers based on yield movements between 9/18/26-9/25/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | NJ | ▲ 10 bps | 4.62% | 4.53% |
| 2 | HI | ▲ 11 bps | 5.09% | 4.97% |
| 3 | VT | ▲ 15 bps | 4.18% | 4.04% |
| 4 | GA | ▲ 15 bps | 4.32% | 4.17% |
| 5 | WA | ▲ 16 bps | 4.44% | 4.27% |
| 6 | IA | ▲ 17 bps | 4.47% | 4.30% |
| 7 | NE | ▲ 17 bps | 4.77% | 4.60% |
| 8 | ND | ▲ 17 bps | 4.58% | 4.41% |
| 9 | MO | ▲ 17 bps | 4.55% | 4.38% |
| 10 | OR | ▲ 18 bps | 4.65% | 4.47% |
Bottom 10 State Performers
Showcases the bottom 10 Muni State performers based on yield movements between 9/18/26-9/25/26
| Rank | State | Change | YLD | YLD-1W |
| 1 | NM | ▲ 40 bps | 4.52% | 4.12% |
| 2 | SC | ▲ 38 bps | 4.61% | 4.23% |
| 3 | OH | ▲ 36 bps | 4.62% | 4.26% |
| 4 | NH | ▲ 35 bps | 4.83% | 4.48% |
| 5 | MT | ▲ 32 bps | 4.80% | 4.48% |
| 6 | AK | ▲ 32 bps | 4.66% | 4.34% |
| 7 | NV | ▲ 31 bps | 4.75% | 4.44% |
| 8 | PA | ▲ 31 bps | 4.90% | 4.60% |
| 9 | CT | ▲ 30 bps | 4.65% | 4.35% |
| 10 | FL | ▲ 30 bps | 4.63% | 4.33% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 9/18/26-9/25/26 (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 9/18/26-9/25/26 (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 9/18/26-9/25/26 (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 9/18/26-9/25/26
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 9/18/26 vs. the week ending 9/25/26
| Rank | Tranche | Coupon | Maturity | Prior Week | This Week | Increase | % Increase |
| 1 | NY TRANSITIONAL-B-1 | 5.250% | 11/01/50 | 148 | 271 | ▲ 123 | 83% |
| 2 | LAS VEGAS VLY WTR-A | 5.250% | 06/01/55 | 5 | 108 | ▲ 103 | 2060% |
| 3 | OMAHA PUB PWR DT -A | 5.250% | 02/01/52 | 23 | 116 | ▲ 93 | 404% |
| 4 | DASNY-A-GROUP 3 | 5.000% | 03/15/53 | 95 | 157 | ▲ 62 | 65% |
| 5 | ENERGY NORTHWEST-A | 5.000% | 07/01/41 | 36 | 88 | ▲ 52 | 144% |
| 6 | SAN FRANCISCO PUB-D | 5.000% | 11/01/55 | 44 | 95 | ▲ 51 | 116% |
| 7 | UNIV OF MICHIGAN-A | 5.000% | 04/01/37 | 20 | 69 | ▲ 49 | 245% |
| 8 | KS DEV FIN AUTH-SRF | 5.000% | 05/01/45 | 15 | 61 | ▲ 46 | 307% |
| 9 | DASNY-C-REF | 5.000% | 03/15/55 | 55 | 100 | ▲ 45 | 82% |
| 10 | SANTA CLARA CNTY-C | 4.000% | 08/01/38 | 12 | 56 | ▲ 44 | 367% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 9/18/26-9/25/26
| Rank | Tranche | Coupon | Maturity | Dealers |
| 1 | NY TRANSITIONAL-B-1 | 5.250% | 11/01/50 | 55 |
| 2 | CA CMNTY CHOICE-E | 5.000% | 07/01/35 | 50 |
| 3 | NY TRANSITIONAL-B-1 | 5.500% | 11/01/54 | 45 |
| 4 | CA HLTH FACS FING-A | 5.000% | 11/15/56 | 42 |
| 5 | NEW JERSEY ST TRANSN TR FD AUT | 5.000% | 06/15/56 | 41 |
| 6 | NY TRANSITIONAL-B-1 | 5.000% | 11/01/53 | 37 |
| 7 | CHICAGO-B-REF-AMT | 5.750% | 01/01/61 | 36 |
| 8 | DASNY-A-GROUP 3 | 5.000% | 03/15/53 | 36 |
| 9 | MI FIN AUTH-A-2-REF | 5.250% | 11/15/53 | 34 |
| 10 | AUSTIN TEX SPL TAX REV | 5.250% | 11/15/51 | 32 |
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