Municipal Bond Market Summary – Week Ending 11/12/21
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Municipal Bond Market Summary: Week Ending 11/12/21
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 11/5/21 – 11/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | NJ INFRASTRUCTURE BK | 2.00% | 09/01/46 | 4.37% | 96.35 | 92.31 |
| 2 | TOLEDO LUCAS PORT-D | 3.00% | 11/15/46 | 3.31% | 102.41 | 99.13 |
| 3 | SAN DIEGO WTR AUTH-A | 1.95% | 05/01/34 | 3.29% | 100.44 | 97.24 |
| 4 | ROUND ROCK-B-CTFS | 2.00% | 08/15/40 | 3.22% | 96.86 | 93.84 |
| 5 | HARRISONBURG -A-REF | 2.00% | 07/15/45 | 3.15% | 95.20 | 92.29 |
| 6 | PARIS -CTFS OBLIG | 2.00% | 12/15/41 | 3.02% | 94.92 | 92.14 |
| 7 | CENTRL PUGET TRANS-S1 | 5.00% | 11/01/46 | 2.78% | 153.14 | 149.00 |
| 8 | IDAHO ST HLTH FACS AU | 4.00% | 03/01/51 | 2.72% | 117.47 | 114.36 |
| 9 | SEQUOIAS CLG IMPT#3-B | 0.00% | 08/01/40 | 2.68% | 64.96 | 63.26 |
| 10 | CECIL CO | 2.13% | 08/01/46 | 2.63% | 96.73 | 94.26 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 11/5/21 – 11/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BRAZORIA CO MUD #22 | 2.13% | 09/01/40 | -2.60% | 94.48 | 97.01 |
| 2 | CALIFORNIA ST DEPT OF | 1.41% | 12/01/29 | -1.46% | 97.06 | 98.50 |
| 3 | FARMVILLE TWN INDL-A | 5.00% | 01/01/50 | -1.45% | 115.11 | 116.81 |
| 4 | ST JOHNS PUB SCHS-REF | 2.00% | 05/01/33 | -1.38% | 98.84 | 100.22 |
| 5 | BAY AREA TOLL AUTH-F1 | 5.00% | 04/01/56 | -1.21% | 121.72 | 123.20 |
| 6 | CONNECTICUT ST-A | 3.50% | 04/15/31 | -1.18% | 110.54 | 111.86 |
| 7 | LOUISIANA ST GO-AGM | 2.34% | 02/01/33 | -1.16% | 100.21 | 101.38 |
| 8 | DECATUR-B-TXBL | 2.90% | 08/15/45 | -1.15% | 100.88 | 102.06 |
| 9 | ROUND ROCK TX | 5.00% | 08/15/24 | -1.15% | 111.88 | 113.18 |
| 10 | TENNESSEE ST SCH-A | 1.81% | 11/01/34 | -1.14% | 96.85 | 97.96 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 11/5/21 – 11/12/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | HI | -40 bps | 2.26% | 2.65% |
| 2 | OR | -34 bps | 1.73% | 2.07% |
| 3 | AZ | -31 bps | 1.60% | 1.90% |
| 4 | CO | -29 bps | 1.46% | 1.74% |
| 5 | MI | -23 bps | 1.94% | 2.17% |
| 6 | DC | -22 bps | 2.06% | 2.28% |
| 7 | WI | -22 bps | 2.20% | 2.41% |
| 8 | WA | -20 bps | 2.06% | 2.26% |
| 9 | CT | -20 bps | 2.29% | 2.49% |
| 10 | NE | -19 bps | 1.66% | 1.85% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 11/5/21 – 11/12/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | 19 bps | 2.25% | 2.06% |
| 2 | IA | 15 bps | 2.07% | 1.92% |
| 3 | NJ | 13 bps | 2.01% | 1.87% |
| 4 | DE | 9 bps | 1.51% | 1.42% |
| 5 | TX | 5 bps | 2.31% | 2.26% |
| 6 | NY | 4 bps | 2.26% | 2.22% |
| 7 | MT | 4 bps | 1.60% | 1.56% |
| 8 | SC | 3 bps | 1.97% | 1.94% |
| 9 | GA | -3 bps | 1.80% | 1.83% |
| 10 | LA | -4 bps | 2.37% | 2.41% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 11/5/21 – 11/12/21 (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 11/5/21 – 11/12/21 (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 11/5/21 – 11/12/21 (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 11/5/21 – 11/12/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 11/5/21 vs. the week ending 11/12/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SEATTLE-REF | 4.00% | 08/01/32 | 4 | 56 | 52 | 1300% |
| 2 | NEW JERSEY ST TRANSPR | 5.00% | 12/15/26 | 58 | 100 | 42 | 72% |
| 3 | GA ST-A-REF | 4.00% | 07/01/38 | 9 | 49 | 40 | 444% |
| 4 | NY ST URBAN DEV CORP- | 4.00% | 03/15/43 | 40 | 75 | 35 | 88% |
| 5 | WA MET AREA TRANSIT-A | 5.00% | 07/15/46 | 26 | 60 | 34 | 131% |
| 6 | TRIBOROUGH BRID-C-1A | 5.00% | 05/15/51 | 33 | 66 | 33 | 100% |
| 7 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/34 | 80 | 112 | 32 | 40% |
| 8 | OCEANSIDE UNIF SD -A | 4.00% | 08/01/41 | 10 | 42 | 32 | 320% |
| 9 | PHOENIX AZ CIVIC IMPT | 4.00% | 07/01/41 | 4 | 34 | 30 | 750% |
| 10 | TEXAS PRIV ACTIVITY | 5.00% | 06/30/58 | 6 | 36 | 30 | 500% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 11/5/21 – 11/12/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NYC MUNI WTR FIN-BB-1 | 4.00% | 06/15/45 | 31 |
| 2 | CALIFORNIA ST-REF | 5.00% | 09/01/29 | 28 |
| 3 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 27 |
| 4 | SALT LAKE-A-AMT | 5.00% | 07/01/46 | 25 |
| 5 | NEW YORK ST DORM AUTH | 5.00% | 10/01/50 | 24 |
| 6 | MARYLAND STADIUM AUTH | 2.75% | 06/01/51 | 23 |
| 7 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 22 |
| 8 | CALIFORNIA ST | 4.00% | 10/01/37 | 22 |
| 9 | NYC MUNI WTR FIN-BB-1 | 4.00% | 06/15/39 | 22 |
| 10 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/34 | 22 |
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