Municipal Bond Market Summary – Week Ending 1/29/21
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Municipal Bond Market Summary: Week Ending 1/29/21
Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 Muni Bond “Winners” based on price movements between 1/22/21 – 1/29/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MET TRN AUTH | 6.65% | 11/15/39 | 7.88% | 145.64 | 135.01 |
| 2 | RUTGERS UNIV-P-TXBL | 3.92% | 05/01/19 | 6.22% | 121.21 | 114.11 |
| 3 | OCEANSIDE USD-C | 0.00% | 08/01/44 | 4.83% | 58.16 | 55.48 |
| 4 | HASTINGS CAMPUS HSG-A | 5.00% | 07/01/45 | 3.81% | 115.94 | 111.69 |
| 5 | PUB FIN AUTH-A | 4.75% | 11/15/53 | 3.74% | 99.53 | 95.94 |
| 6 | WESTCHESTER LOCAL-A | 6.25% | 06/01/50 | 3.68% | 122.03 | 117.70 |
| 7 | TEXAS ST A & M UNIV R | 3.29% | 05/15/31 | 3.28% | 114.05 | 110.43 |
| 8 | CORPUS CHRISTI UTL-B | 1.81% | 07/15/29 | 3.28% | 104.99 | 101.66 |
| 9 | PR ELEC PWR-XX | 4.63% | 07/01/25 | 3.04% | 84.47 | 81.98 |
| 10 | CA ST PUB WKS BRD -D | 2.00% | 11/01/35 | 2.97% | 103.21 | 100.23 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 1/22/21 – 1/29/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MO JT MUN ELEC-BABS | 7.73% | 01/01/39 | -3.76% | 157.77 | 163.93 |
| 2 | FRESNO USD-REF-A | 6.00% | 08/01/26 | -3.13% | 119.86 | 123.74 |
| 3 | MD TRN-TXB-BALTIMORE | 6.65% | 07/01/32 | -2.46% | 125.67 | 128.85 |
| 4 | BERNALILLO RCPTS REF | 5.25% | 04/01/27 | -2.41% | 118.53 | 121.46 |
| 5 | ATLANTA WTR/WSTWTR-A | 5.50% | 11/01/27 | -1.99% | 124.86 | 127.39 |
| 6 | PREREF-CENTRAL DAUPHI | 4.00% | 02/01/28 | -1.79% | 116.82 | 118.95 |
| 7 | CAMPBELL SD-B | 5.00% | 08/01/34 | -1.45% | 123.64 | 125.46 |
| 8 | CRYSTAL VLY MET DT#2 | 4.00% | 12/01/44 | -1.19% | 119.26 | 120.70 |
| 9 | MONTGOMERY REV-UNREF | 5.25% | 05/01/29 | -1.03% | 112.63 | 113.81 |
| 10 | KLAMATH FALLS HOSP | 3.00% | 09/01/35 | -0.97% | 105.66 | 106.69 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 1/22/21 – 1/29/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | AR | -51 bps | 1.45% | 1.96% |
| 2 | MA | -45 bps | 1.47% | 1.92% |
| 3 | HI | -40 bps | 1.72% | 2.13% |
| 4 | ME | -36 bps | 0.86% | 1.22% |
| 5 | NE | -29 bps | 0.97% | 1.26% |
| 6 | FL | -27 bps | 1.14% | 1.41% |
| 7 | IA | -25 bps | 1.42% | 1.67% |
| 8 | WI | -23 bps | 1.19% | 1.42% |
| 9 | MS | -22 bps | 1.50% | 1.72% |
| 10 | VA | -20 bps | 1.06% | 1.26% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 1/22/21 – 1/29/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | 34 bps | 2.21% | 1.87% |
| 2 | MD | 25 bps | 1.39% | 1.14% |
| 3 | DC | 17 bps | 1.48% | 1.32% |
| 4 | NV | 16 bps | 1.69% | 1.53% |
| 5 | MN | 15 bps | 1.55% | 1.40% |
| 6 | MO | 6 bps | 1.46% | 1.40% |
| 7 | UT | 6 bps | 1.17% | 1.12% |
| 8 | TN | 4 bps | 1.32% | 1.28% |
| 9 | NJ | 3 bps | 1.56% | 1.53% |
| 10 | PA | 2 bps | 1.53% | 1.51% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 1/22/21 – 1/29/21 (General Obligation and Revenue Bonds) Results are based on 5 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 1/22/21 – 1/29/21 (General Obligation Bonds only) Results are based on 5 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 1/22/21 – 1/29/21 (Revenue Bonds only) Results are based on 5 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 1/22/21 – 1/29/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 1/22/21 vs. the week ending 1/29/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MIAMI-DADE CO WTR&SWR | 4.00% | 10/01/49 | 112 | 173 | 61 | 54% |
| 2 | NEW YORK ST URBAN DEV | 4.00% | 03/15/49 | 26 | 78 | 52 | 200% |
| 3 | DALLAS ISD | 3.00% | 02/15/33 | 7 | 51 | 44 | 629% |
| 4 | DETROIT | 5.50% | 04/01/45 | 14 | 57 | 43 | 307% |
| 5 | DETROIT | 5.50% | 04/01/50 | 14 | 57 | 43 | 307% |
| 6 | BEND-SWR REV | 5.00% | 05/01/50 | 8 | 47 | 39 | 488% |
| 7 | NORTH CAROLINA ST LTD | 5.00% | 05/01/32 | 13 | 49 | 36 | 277% |
| 8 | DASNY-A-REF-GROUP 2 | 4.00% | 03/15/37 | 72 | 107 | 35 | 49% |
| 9 | NEW YORK ST DORM AUTH | 4.00% | 03/15/46 | 78 | 112 | 34 | 44% |
| 10 | CLEAR CREEK ISD | 4.00% | 02/15/37 | 16 | 50 | 34 | 213% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 1/22/21 – 1/29/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MIAMI-DADE CO WTR&SWR | 4.00% | 10/01/49 | 36 |
| 2 | UNIV OF TEXAS UNIV-A | 5.00% | 08/15/30 | 32 |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 31 |
| 4 | LOS ANGELES WTR PWR-A | 5.00% | 07/01/45 | 27 |
| 5 | MUNI ELEC AUTH OF GEO | 5.00% | 01/01/59 | 25 |
| 6 | CONNECTICUT ST -A | 2.00% | 01/15/41 | 25 |
| 7 | NEW YORK ST DORM AUTH | 4.00% | 03/15/46 | 25 |
| 8 | DASNY-A-REF-GROUP 2 | 4.00% | 03/15/37 | 25 |
| 9 | NY ST URBAN DEV-E-4 | 3.00% | 03/15/47 | 25 |
| 10 | FL MUNI PWR AGY-A-REF | 5.00% | 10/01/25 | 24 |
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