Municipal Bond Market Summary – Week Ending 10/30/20
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Municipal Bond Market Summary: Week Ending 10/30/20
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 10/23/20 – 10/30/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SAN ANTONIO -CFC REV | 5.67% | 07/01/35 | 3.85% | 110.08 | 106.00 |
| 2 | HIGHER EDUCTNL FACS-B | 2.59% | 12/01/29 | 2.90% | 103.50 | 100.58 |
| 3 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/26 | 2.56% | 108.03 | 105.33 |
| 4 | KY TPK AUTH-A-REF | 5.00% | 07/01/26 | 2.53% | 121.90 | 118.90 |
| 5 | ATLANTA WTR-REF | 5.00% | 11/01/43 | 2.32% | 120.42 | 117.68 |
| 6 | GWINNETT CO DEV AUTH | 2.50% | 09/01/50 | 2.29% | 98.54 | 96.33 |
| 7 | LAWRENCE SCH BLDG COR | 0.05% | 07/15/34 | 2.29% | 78.55 | 76.80 |
| 8 | NJ ST TRANSN TR FD | 0.00% | 12/15/37 | 1.70% | 53.54 | 52.65 |
| 9 | NEW YORK CITY NY MUNI | 5.00% | 06/15/28 | 1.48% | 133.18 | 131.24 |
| 10 | PHOENIX IMPT-CAP-BHAC | 5.50% | 07/01/41 | 1.47% | 148.77 | 146.62 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 10/23/20 – 10/30/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR BLDGS UNREF-D | 5.13% | 07/01/24 | -5.32% | 71.96 | 76.00 |
| 2 | N TEXAS TOLLWY AUTH | 1.83% | 01/01/29 | -5.25% | 99.49 | 105.00 |
| 3 | CINCINNATI-C-TXBL-REF | 2.30% | 12/01/40 | -4.69% | 94.91 | 99.58 |
| 4 | HOOVER AL INDL DEV BR | 5.75% | 10/01/49 | -4.17% | 88.25 | 92.09 |
| 5 | MIAMI DADE CO-B-REF | 1.10% | 07/01/26 | -3.49% | 96.68 | 100.18 |
| 6 | SCOTTSDALE-B | 2.90% | 07/01/39 | -3.49% | 98.92 | 102.50 |
| 7 | CALIFORNIA ST DEPT OF | 5.00% | 12/01/32 | -3.47% | 127.48 | 132.07 |
| 8 | L A MET TRANSN | 5.74% | 06/01/39 | -2.78% | 137.97 | 141.91 |
| 9 | REDONDO BEACH UNIF SD | 2.11% | 08/01/35 | -2.61% | 96.03 | 98.60 |
| 10 | YSLETA ISD-B-TXBL | 0.00% | 08/15/33 | -2.29% | 73.99 | 75.72 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 10/23/20 – 10/30/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -51 bps | 1.90% | 2.40% |
| 2 | NY | -43 bps | 1.62% | 2.05% |
| 3 | MS | -40 bps | 1.36% | 1.76% |
| 4 | NC | -37 bps | 1.18% | 1.55% |
| 5 | LA | -35 bps | 1.55% | 1.90% |
| 6 | FL | -35 bps | 1.37% | 1.72% |
| 7 | SC | -22 bps | 1.66% | 1.87% |
| 8 | MO | -21 bps | 1.71% | 1.93% |
| 9 | AL | -21 bps | 1.57% | 1.78% |
| 10 | MA | -20 bps | 1.67% | 1.87% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 10/23/20 – 10/30/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | IN | 71 bps | 2.61% | 1.90% |
| 2 | AZ | 30 bps | 2.09% | 1.79% |
| 3 | GA | 21 bps | 1.66% | 1.45% |
| 4 | MN | 21 bps | 1.83% | 1.62% |
| 5 | MD | 11 bps | 1.82% | 1.71% |
| 6 | WV | 11 bps | 1.49% | 1.38% |
| 7 | NV | 8 bps | 2.06% | 1.98% |
| 8 | MI | 7 bps | 1.98% | 1.92% |
| 9 | AK | 5 bps | 1.56% | 1.50% |
| 10 | IA | 2 bps | 1.57% | 1.55% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 10/23/20 – 10/30/20 (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 10/23/20 – 10/30/20 (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 10/23/20 – 10/30/20 (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 10/23/20 – 10/30/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 10/23/20 vs. the week ending 10/30/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MASSACHUSETTS ST CLEA | 5.00% | 02/01/30 | 11 | 55 | 44 | 400% |
| 2 | NORTH CAROLINA-B | 5.00% | 06/01/29 | 5 | 44 | 39 | 780% |
| 3 | DASNY-A-REF-GROUP 2 | 5.00% | 03/15/33 | 23 | 61 | 38 | 165% |
| 4 | VIRGINIA ST PORT AUTH | 2.45% | 07/01/40 | 4 | 40 | 36 | 900% |
| 5 | ILLINOIS ST | 5.00% | 07/01/21 | 39 | 75 | 36 | 92% |
| 6 | LOS ANGELES CA DEPT O | 5.00% | 07/01/50 | 85 | 119 | 34 | 40% |
| 7 | SAN FRANCISCO CITY & | 5.00% | 11/01/45 | 25 | 59 | 34 | 136% |
| 8 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 115 | 149 | 34 | 30% |
| 9 | ILLINOIS ST-A | 5.00% | 04/01/22 | 8 | 40 | 32 | 400% |
| 10 | IL ST | 5.00% | 03/01/21 | 8 | 40 | 32 | 400% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 10/23/20 – 10/30/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MISSOURI ST HLTH & ED | 3.00% | 06/01/53 | 33 |
| 2 | TEXAS ST WTR DEV BRD | 4.00% | 10/15/45 | 30 |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 30 |
| 4 | NEW YORK CITY NY TRAN | 4.00% | 05/01/40 | 29 |
| 5 | PENNSYLVANIA CMWLTH | 2.13% | 05/01/40 | 27 |
| 6 | HENNEPIN CO -A | 5.00% | 12/01/32 | 27 |
| 7 | NYC TRANSITIONAL FIN | 4.00% | 11/01/38 | 27 |
| 8 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/37 | 27 |
| 9 | NEW YORK CITY NY MUNI | 3.00% | 06/15/50 | 25 |
| 10 | NEW YORK CITY NY MUNI | 5.00% | 06/15/50 | 25 |
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