Municipal Bond Market Summary – Week Ending 10/1/21
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Municipal Bond Market Summary: Week Ending 10/1/21
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 9/24/21 – 10/1/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR-REF-A | 4.13% | 07/01/22 | 3.22% | 83.61 | 81.00 |
| 2 | MARYLAND ST HLTH&HG-A | 3.13% | 07/01/35 | 2.09% | 106.58 | 104.40 |
| 3 | NEW YORK ST URBAN DEV | 4.00% | 03/15/38 | 1.80% | 120.34 | 118.21 |
| 4 | HAMILTON CMNTY SCHS | 3.13% | 05/01/46 | 1.38% | 108.94 | 107.46 |
| 5 | BARBERS HILL-REF | 4.00% | 02/15/25 | 1.15% | 110.98 | 109.72 |
| 6 | HUTTO -CTFS OBLIG | 3.38% | 08/01/40 | 1.04% | 108.85 | 107.73 |
| 7 | MIAMI UNIV OH | 4.00% | 09/01/37 | 0.93% | 120.48 | 119.37 |
| 8 | ILLINOIS HSG DEV-C | 2.75% | 07/01/51 | 0.83% | 100.83 | 100.00 |
| 9 | ANAHEIM CA HSG& PUB-B | 2.89% | 10/01/33 | 0.83% | 103.21 | 102.36 |
| 10 | NEW YORK CITY -D-3 | 2.22% | 03/01/35 | 0.83% | 99.91 | 99.09 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 9/24/21 – 10/1/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR HWY/TRN-CC-REF | 5.25% | 07/01/34 | -6.64% | 103.74 | 111.12 |
| 2 | VA ST CMWLTH UNIV-A | 4.96% | 01/01/44 | -5.42% | 134.85 | 142.57 |
| 3 | UNIV VA-A-TXBL | 3.23% | 09/01/19 | -4.49% | 101.03 | 105.79 |
| 4 | NEW ORLEANS LA WTR RE | 2.34% | 12/01/36 | -4.47% | 96.31 | 100.82 |
| 5 | ESSEX CNTY NJ IMPT AU | 4.00% | 06/15/51 | -4.17% | 110.76 | 115.58 |
| 6 | NEW YORK MTGE AGY-213 | 3.65% | 10/01/30 | -3.93% | 107.89 | 112.31 |
| 7 | CORPUS CHRISTI UTL-B | 2.81% | 07/15/40 | -3.90% | 100.40 | 104.48 |
| 8 | UNIV OF CALIFORNIA CA | 3.71% | 05/15/20 | -3.85% | 107.81 | 112.13 |
| 9 | FLORIDA DOT TPK-B | 2.00% | 07/01/44 | -3.80% | 92.26 | 95.91 |
| 10 | CSCDA CMNTY IMPT AUTH | 3.13% | 08/01/56 | -3.65% | 95.39 | 99.00 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 9/24/21 – 10/1/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MI | -33 bps | 1.79% | 2.12% |
| 2 | NJ | -23 bps | 2.11% | 2.34% |
| 3 | OR | -22 bps | 1.78% | 2.00% |
| 4 | OH | -19 bps | 1.81% | 2.00% |
| 5 | MA | -17 bps | 2.25% | 2.41% |
| 6 | MN | -13 bps | 1.73% | 1.86% |
| 7 | WA | -12 bps | 2.19% | 2.30% |
| 8 | SC | -7 bps | 1.69% | 1.76% |
| 9 | CO | -4 bps | 1.51% | 1.55% |
| 10 | MD | -4 bps | 1.72% | 1.76% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 9/24/21 – 10/1/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | 57 bps | 2.52% | 1.96% |
| 2 | NV | 39 bps | 1.89% | 1.50% |
| 3 | LA | 34 bps | 2.26% | 1.92% |
| 4 | AL | 29 bps | 2.17% | 1.88% |
| 5 | UT | 27 bps | 1.88% | 1.61% |
| 6 | DC | 25 bps | 2.22% | 1.96% |
| 7 | NY | 23 bps | 2.06% | 1.83% |
| 8 | IA | 22 bps | 2.13% | 1.92% |
| 9 | MS | 19 bps | 1.79% | 1.59% |
| 10 | IL | 19 bps | 2.34% | 2.14% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 9/24/21 – 10/1/21 (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 9/24/21 – 10/1/21 (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 9/24/21 – 10/1/21 (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 9/24/21 – 10/1/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 9/24/21 vs. the week ending 10/1/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | TN HSG DEV AGY-2021-1 | 2.40% | 01/01/46 | 14 | 76 | 62 | 443% |
| 2 | DALLAS TX AREA RAPID | 5.00% | 12/01/33 | 10 | 58 | 48 | 480% |
| 3 | UNIV OF S CAROLINA -A | 4.00% | 05/01/51 | 16 | 63 | 47 | 294% |
| 4 | GEORGIA HSG&FIN AUTH | 2.50% | 06/01/50 | 36 | 81 | 45 | 125% |
| 5 | MASSACHUSETTS ST TRAN | 5.00% | 06/01/49 | 28 | 71 | 43 | 154% |
| 6 | MEMPHIS-REF | 5.00% | 05/01/32 | 16 | 57 | 41 | 256% |
| 7 | BELL CO-CTFS OBLIG | 5.00% | 02/15/31 | 14 | 54 | 40 | 286% |
| 8 | BELL CO-CTFS OBLIG | 5.00% | 02/15/30 | 10 | 49 | 39 | 390% |
| 9 | NJ TPK AUTH -B-TXBL | 1.71% | 01/01/29 | 16 | 55 | 39 | 244% |
| 10 | CLINTON CMNTY SCHS | 4.00% | 05/01/44 | 11 | 49 | 38 | 345% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 9/24/21 – 10/1/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NEW YORK -A-1 | 5.00% | 08/01/47 | 32 |
| 2 | MARYLAND ST 2ND SER A | 5.00% | 08/01/34 | 28 |
| 3 | CA HLTH FACS-A2 | 5.00% | 11/01/47 | 28 |
| 4 | NEW JERSEY ST-A | 5.00% | 06/01/28 | 26 |
| 5 | WASHINGTON ST -A | 5.00% | 08/01/40 | 26 |
| 6 | CALIFORNIA ST | 4.00% | 10/01/37 | 25 |
| 7 | CALIFORNIA ST | 4.00% | 10/01/36 | 24 |
| 8 | CALIFORNIA ST-REF | 4.00% | 10/01/41 | 24 |
| 9 | DASNY-A-REF-GROUP 2 | 5.00% | 03/15/31 | 22 |
| 10 | CALIFORNIA ST | 4.00% | 10/01/39 | 22 |
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