Municipal Bond Market Summary – Week Ending 10/23/20
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Municipal Bond Market Summary: Week Ending 10/23/20
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 10/16/20 – 10/23/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CINCINNATI ECON DEV-H | 4.60% | 11/01/35 | 1.93% | 113.65 | 111.50 |
| 2 | MET TRANSPRTN-D2 | 2.16% | 11/15/44 | 1.80% | 98.34 | 96.60 |
| 3 | DOUGLAS CNTY NE SCH D | 2.34% | 06/15/34 | 1.63% | 102.18 | 100.53 |
| 4 | ANAHEIM REDEV-REF-B | 6.51% | 02/01/31 | 1.55% | 126.72 | 124.78 |
| 5 | COLORADO ST COPS | 5.00% | 12/15/26 | 1.54% | 127.22 | 125.29 |
| 6 | MACON-A-REF-MACON | 5.00% | 12/01/29 | 1.44% | 126.13 | 124.34 |
| 7 | COACHELLA VY USD CAB | 0.00% | 08/01/32 | 1.44% | 77.96 | 76.86 |
| 8 | FORESTVL SD CAB-ELEC | 0.00% | 08/01/29 | 1.13% | 88.53 | 87.54 |
| 9 | BOLINGBROOK SPL SVC | 3.25% | 03/01/31 | 1.12% | 107.39 | 106.19 |
| 10 | SNOHOMISH PUD #1 | 5.00% | 12/01/28 | 1.06% | 121.78 | 120.50 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 10/16/20 – 10/23/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PORT AUTH NY/NJ-TXBL | 4.03% | 09/01/48 | -5.41% | 112.61 | 119.05 |
| 2 | ATLANTA DEV AUTH-A1 | 6.75% | 01/01/35 | -4.51% | 66.84 | 70.00 |
| 3 | AUSTIN-BERGSTROM LAND | 5.00% | 10/01/35 | -4.50% | 105.32 | 110.29 |
| 4 | UNIV OF VIRGINIA-REF | 2.26% | 09/01/50 | -3.80% | 96.11 | 99.90 |
| 5 | LA DEPT WTR/PWR-BABS | 6.60% | 07/01/50 | -3.77% | 173.47 | 180.27 |
| 6 | GWINNETT CO DEV AUTH | 2.50% | 09/01/50 | -3.74% | 96.33 | 100.08 |
| 7 | NYC IDA YANKEE STADI | 0.00% | 03/01/38 | -3.50% | 59.53 | 61.69 |
| 8 | SAN DIEGO WTR-B | 6.14% | 05/01/49 | -3.40% | 156.47 | 161.98 |
| 9 | MD HLTH&HGR EDUCTNL-D | 3.05% | 07/01/40 | -3.10% | 100.46 | 103.67 |
| 10 | MONTGOMERY CO -C | 2.00% | 04/01/30 | -2.96% | 100.00 | 103.05 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 10/16/20 – 10/23/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | IN | -52 bps | 1.91% | 2.44% |
| 2 | MN | -21 bps | 1.62% | 1.83% |
| 3 | AZ | -20 bps | 1.82% | 2.02% |
| 4 | AL | -12 bps | 1.74% | 1.87% |
| 5 | CT | -9 bps | 1.97% | 2.06% |
| 6 | MI | -5 bps | 1.92% | 1.97% |
| 7 | HI | -5 bps | 1.70% | 1.75% |
| 8 | OH | -4 bps | 2.10% | 2.14% |
| 9 | MS | -4 bps | 1.77% | 1.80% |
| 10 | IL | -4 bps | 3.10% | 3.14% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 10/16/20 – 10/23/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | 52 bps | 2.41% | 1.89% |
| 2 | MA | 32 bps | 1.87% | 1.56% |
| 3 | WI | 31 bps | 1.99% | 1.68% |
| 4 | MD | 29 bps | 1.71% | 1.42% |
| 5 | NJ | 24 bps | 1.95% | 1.71% |
| 6 | NC | 22 bps | 1.55% | 1.33% |
| 7 | VA | 12 bps | 1.73% | 1.62% |
| 8 | NY | 11 bps | 2.05% | 1.94% |
| 9 | FL | 9 bps | 1.72% | 1.63% |
| 10 | CO | 9 bps | 2.08% | 2.00% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 10/16/20 – 10/23/20 (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 10/16/20 – 10/23/20 (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 10/16/20 – 10/23/20 (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 10/16/20 – 10/23/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 10/16/20 vs. the week ending 10/23/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SAN DIEGO UNIF SD -M2 | 3.00% | 07/01/50 | 20 | 80 | 60 | 300% |
| 2 | NEW YORK CITY NY TRAN | 5.00% | 05/01/33 | 36 | 82 | 46 | 128% |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 71 | 115 | 44 | 62% |
| 4 | NEW YORK CITY NY TRAN | 5.00% | 05/01/37 | 69 | 111 | 42 | 61% |
| 5 | ALAMEDA CA UNIF SCH D | 3.00% | 08/01/35 | 8 | 49 | 41 | 513% |
| 6 | NORTH EAST ISD-TXBL | 2.06% | 02/01/35 | 19 | 56 | 37 | 195% |
| 7 | NORTH EAST ISD-TXBL | 2.48% | 02/01/40 | 19 | 55 | 36 | 189% |
| 8 | PENNSYLVANIA CMWLTH | 2.13% | 05/01/40 | 79 | 115 | 36 | 46% |
| 9 | NEW YORK CITY -J-10 | 5.00% | 08/01/26 | 27 | 63 | 36 | 133% |
| 10 | N E ISD-A-REF | 5.00% | 08/01/24 | 15 | 50 | 35 | 233% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 10/16/20 – 10/23/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MISSOURI ST HLTH & ED | 3.00% | 06/01/53 | 32 |
| 2 | TEXAS ST WTR DEV BRD | 4.00% | 10/15/45 | 30 |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 29 |
| 4 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 29 |
| 5 | CALIFORNIA ST | 5.00% | 11/01/30 | 29 |
| 6 | NEW YORK CITY NY TRAN | 4.00% | 05/01/40 | 28 |
| 7 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/37 | 27 |
| 8 | HENNEPIN CO -A | 5.00% | 12/01/32 | 27 |
| 9 | NYC TRANSITIONAL FIN | 4.00% | 11/01/38 | 26 |
| 10 | NEW YORK CITY NY MUNI | 3.00% | 06/15/50 | 25 |
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