Municipal Bond Market Summary – Week Ending 10/16/20
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Municipal Bond Market Summary: Week Ending 10/16/20
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 10/9/20 – 10/16/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR COMWLTH SER A | 5.00% | 07/01/28 | 4.07% | 65.43 | 62.88 |
| 2 | ERIE PA WTR AUTH WTR | 3.18% | 12/01/49 | 2.77% | 103.40 | 100.61 |
| 3 | NORTH EAST ISD-REF | 4.00% | 08/01/35 | 2.52% | 122.57 | 119.55 |
| 4 | GA HSG & FIN-A1 | 3.90% | 12/01/29 | 1.65% | 106.88 | 105.15 |
| 5 | SORREL RANCH MET DT | 2.50% | 12/01/42 | 1.59% | 99.55 | 98.00 |
| 6 | L A WTR/PWR-C-BABS | 6.01% | 07/01/39 | 1.52% | 139.08 | 137.00 |
| 7 | GTR NANTICOKE PA ASD | 2.88% | 10/15/45 | 1.42% | 98.59 | 97.21 |
| 8 | DIST OF COLUMBIA-REF | 5.00% | 04/01/32 | 1.41% | 120.86 | 119.18 |
| 9 | JACKSON CO-REF | 5.00% | 12/01/24 | 1.39% | 117.10 | 115.49 |
| 10 | UNIV OF NEBRASKA NE-A | 3.04% | 10/01/49 | 1.29% | 109.76 | 108.37 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 10/9/20 – 10/16/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PLATTE IDA REF-ZONA | 5.00% | 12/01/25 | -7.42% | 52.44 | 56.65 |
| 2 | PA TURNPIKE COMM | 3.58% | 12/01/43 | -3.78% | 103.82 | 107.90 |
| 3 | MOORPARK USD-CABS-A | 0.00% | 08/01/31 | -3.64% | 80.71 | 83.76 |
| 4 | PR BLDGS UNREF-FAC-I | 5.25% | 07/01/33 | -2.92% | 76.57 | 78.88 |
| 5 | ROCK ISLAND CO PBC | 5.00% | 12/01/36 | -2.90% | 117.71 | 121.22 |
| 6 | HEMET UNIF SD-B | 2.25% | 08/01/40 | -2.67% | 97.16 | 99.83 |
| 7 | NYC SER H-1-BABS | 5.65% | 06/01/27 | -2.23% | 119.31 | 122.03 |
| 8 | NEW YORK ST URBAN DEV | 4.00% | 03/15/41 | -2.06% | 114.72 | 117.14 |
| 9 | LOUISIANA ST -A-2 | 2.23% | 05/01/36 | -2.01% | 98.77 | 100.80 |
| 10 | MET TRANS AUTH-UNREF | 5.00% | 11/15/22 | -1.84% | 102.19 | 104.11 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 10/9/20 – 10/16/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MT | -36 bps | 1.58% | 1.95% |
| 2 | TN | -21 bps | 1.61% | 1.81% |
| 3 | LA | -20 bps | 1.87% | 2.07% |
| 4 | HI | -10 bps | 1.67% | 1.77% |
| 5 | ME | -6 bps | 1.17% | 1.23% |
| 6 | NJ | -5 bps | 1.73% | 1.78% |
| 7 | MA | -5 bps | 1.58% | 1.62% |
| 8 | SC | -4 bps | 1.95% | 1.99% |
| 9 | WV | -4 bps | 1.38% | 1.43% |
| 10 | KS | -3 bps | 1.93% | 1.97% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 10/9/20 – 10/16/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | VA | 52 bps | 1.76% | 1.24% |
| 2 | NV | 35 bps | 1.97% | 1.62% |
| 3 | AR | 30 bps | 2.23% | 1.94% |
| 4 | MO | 25 bps | 2.02% | 1.77% |
| 5 | UT | 24 bps | 1.46% | 1.22% |
| 6 | MS | 21 bps | 1.80% | 1.59% |
| 7 | MI | 18 bps | 1.97% | 1.79% |
| 8 | AL | 16 bps | 1.86% | 1.70% |
| 9 | CT | 13 bps | 2.08% | 1.94% |
| 10 | GA | 13 bps | 1.48% | 1.35% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 10/9/20 – 10/16/20 (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 10/9/20 – 10/16/20 (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 10/9/20 – 10/16/20 (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 10/9/20 – 10/16/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 10/9/20 vs. the week ending 10/16/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MICHIGAN ST -B -REV | 5.00% | 11/15/30 | 24 | 64 | 40 | 167% |
| 2 | WASHINGTON ST-COPS-B | 5.00% | 07/01/31 | 9 | 48 | 39 | 433% |
| 3 | NEW YORK CITY NY TRAN | 5.00% | 05/01/37 | 30 | 69 | 39 | 130% |
| 4 | MONT BELVIEU-CTFS OBL | 4.00% | 08/15/31 | 9 | 45 | 36 | 400% |
| 5 | ENERGY NW-A-REF | 5.00% | 07/01/33 | 22 | 58 | 36 | 164% |
| 6 | DAVISON CMNTY SCHS -I | 4.00% | 05/01/31 | 9 | 44 | 35 | 389% |
| 7 | MASSACHUSETTS ST WTR | 5.00% | 08/01/37 | 20 | 55 | 35 | 175% |
| 8 | NY URBAN DEV-C | 5.00% | 03/15/29 | 19 | 50 | 31 | 163% |
| 9 | MA ST DEV FIN -J2 | 5.00% | 07/01/48 | 11 | 42 | 31 | 282% |
| 10 | ILLINOIS ST-D | 5.00% | 11/01/20 | 10 | 41 | 31 | 310% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 10/9/20 – 10/16/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CALIFORNIA ST | 5.00% | 11/01/30 | 33 |
| 2 | MISSOURI ST HLTH & ED | 3.00% | 06/01/53 | 31 |
| 3 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 30 |
| 4 | NYC TRANSITIONAL FIN | 4.00% | 11/01/34 | 28 |
| 5 | NEW YORK CITY NY TRAN | 4.00% | 05/01/40 | 28 |
| 6 | TEXAS ST WTR DEV BRD | 4.00% | 10/15/45 | 28 |
| 7 | HENNEPIN CO -A | 5.00% | 12/01/32 | 27 |
| 8 | CALIFORNIA ST | 3.00% | 11/01/41 | 27 |
| 9 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/37 | 26 |
| 10 | NYC TRANSITIONAL FIN | 4.00% | 11/01/38 | 25 |
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