Municipal Bond Market Summary – Week Ending 10/15/21
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Municipal Bond Market Summary: Week Ending 10/15/21
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 10/8/21 – 10/15/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR-REF-A | 5.00% | 07/01/20 | 3.88% | 83.63 | 80.50 |
| 2 | UNIV OF VIRGINIA VA U | 2.58% | 11/01/51 | 2.13% | 99.79 | 97.71 |
| 3 | LONG BEACH CCD -REF | 1.88% | 05/01/29 | 2.08% | 102.07 | 99.99 |
| 4 | JERSEY CITY-TXBL | 3.13% | 03/01/48 | 1.94% | 99.70 | 97.80 |
| 5 | FREMONT UNIF SD-B | 2.75% | 08/01/46 | 1.92% | 98.41 | 96.56 |
| 6 | MASSACHUSETTS ST-F | 3.28% | 06/01/46 | 1.84% | 109.79 | 107.81 |
| 7 | PENNSYLVANIA ST UNIV | 2.89% | 09/01/50 | 1.79% | 103.08 | 101.27 |
| 8 | UNIV OF VIRGINIA VA U | 2.97% | 09/01/49 | 1.75% | 106.62 | 104.78 |
| 9 | CMWLTH FING AUTH-A | 3.81% | 06/01/41 | 1.73% | 116.34 | 114.37 |
| 10 | INDIANA FIN AUTH-TXBL | 3.05% | 01/01/51 | 1.60% | 103.34 | 101.71 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 10/8/21 – 10/15/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | LOS ANGELES-E-REF | 2.43% | 05/15/34 | -6.95% | 92.52 | 99.43 |
| 2 | PHILADELPHIA SD-BABS | 6.62% | 06/01/30 | -3.49% | 121.12 | 125.51 |
| 3 | PUB FIN AUTH-A-1 | 5.00% | 01/01/55 | -3.32% | 109.96 | 113.73 |
| 4 | CERES CA UNIF SCH DIS | 2.75% | 08/01/38 | -3.25% | 103.26 | 106.73 |
| 5 | PR HWY/TRN-L-REF | 5.25% | 07/01/38 | -2.30% | 103.56 | 106.00 |
| 6 | MAIN STREET NATURAL-A | 5.00% | 05/15/49 | -2.22% | 142.57 | 145.81 |
| 7 | NE PUB PWR DT-C-REF | 5.00% | 01/01/30 | -2.14% | 129.18 | 132.00 |
| 8 | DASNY-A-REF-GROUP 2 | 4.00% | 03/15/36 | -2.05% | 118.49 | 120.97 |
| 9 | VA PUB BLDG AUTH-A-1 | 5.00% | 08/01/32 | -1.99% | 134.01 | 136.74 |
| 10 | MASSACHUSETTS ST HSG | 2.65% | 12/01/29 | -1.93% | 100.65 | 102.62 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 10/8/21 – 10/15/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -105 bps | 1.33% | 2.38% |
| 2 | HI | -100 bps | 1.68% | 2.68% |
| 3 | WI | -82 bps | 1.49% | 2.31% |
| 4 | LA | -58 bps | 1.95% | 2.53% |
| 5 | IA | -56 bps | 1.47% | 2.03% |
| 6 | WA | -50 bps | 1.74% | 2.24% |
| 7 | MD | -49 bps | 1.48% | 1.98% |
| 8 | TN | -49 bps | 1.50% | 1.98% |
| 9 | MI | -42 bps | 1.88% | 2.30% |
| 10 | TX | -42 bps | 1.99% | 2.41% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 10/8/21 – 10/15/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | WV | 21 bps | 1.63% | 1.42% |
| 2 | IL | 9 bps | 2.45% | 2.37% |
| 3 | GA | -2 bps | 1.61% | 1.63% |
| 4 | CO | -2 bps | 1.67% | 1.69% |
| 5 | FL | -7 bps | 1.75% | 1.81% |
| 6 | PA | -7 bps | 2.42% | 2.49% |
| 7 | CT | -7 bps | 2.21% | 2.28% |
| 8 | OH | -8 bps | 1.75% | 1.83% |
| 9 | NC | -8 bps | 1.40% | 1.48% |
| 10 | NJ | -8 bps | 2.35% | 2.43% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 10/8/21 – 10/15/21 (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 10/8/21 – 10/15/21 (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 10/8/21 – 10/15/21 (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 10/8/21 – 10/15/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 10/8/21 vs. the week ending 10/15/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ESTRN MUNI WTR DT-A | 4.00% | 07/01/38 | 5 | 39 | 34 | 680% |
| 2 | NEW YORK CITY NY MUNI | 4.00% | 06/15/49 | 19 | 52 | 33 | 174% |
| 3 | NJ TRANSPRTN-A-REF | 5.00% | 06/15/30 | 3 | 35 | 32 | 1067% |
| 4 | PORT AUTH OF NEW YORK | 5.00% | 07/15/33 | 3 | 33 | 30 | 1000% |
| 5 | SALT LAKE-A-AMT | 5.00% | 07/01/46 | 34 | 64 | 30 | 88% |
| 6 | UNIV OF VA-B-REF | 5.00% | 04/01/44 | 34 | 63 | 29 | 85% |
| 7 | CALIFORNIA CO TOBACCO | 4.00% | 06/01/49 | 1 | 30 | 29 | 2900% |
| 8 | PENNSYLVANIA ST TURNP | 4.00% | 12/01/46 | 5 | 33 | 28 | 560% |
| 9 | OHIO ST | 5.00% | 06/15/25 | 5 | 33 | 28 | 560% |
| 10 | FL ST BOE PECO-B-REF | 5.00% | 06/01/30 | 13 | 41 | 28 | 215% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 10/8/21 – 10/15/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MARYLAND ST 2ND SER A | 5.00% | 08/01/34 | 28 |
| 2 | CALIFORNIA ST | 4.00% | 10/01/37 | 27 |
| 3 | NEW YORK -A-1 | 5.00% | 08/01/47 | 27 |
| 4 | CALIFORNIA ST | 4.00% | 10/01/36 | 26 |
| 5 | PENNSYLVANIA ST TURNP | 4.00% | 12/01/46 | 26 |
| 6 | CALIFORNIA ST-REF | 4.00% | 10/01/41 | 25 |
| 7 | NYC MUNI WTR FIN-BB-1 | 4.00% | 06/15/45 | 25 |
| 8 | TN ENERGY ACQ CORP-A | 5.00% | 05/01/52 | 24 |
| 9 | CALIFORNIA ST | 4.00% | 10/01/39 | 24 |
| 10 | CALIFORNIA ST-REF | 5.00% | 09/01/29 | 24 |
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