Municipal Bond Market Summary – Week Ending 11/13/20
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Municipal Bond Market Summary: Week Ending 11/13/20
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 11/6/20 – 11/13/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/26 | 5.58% | 109.79 | 103.98 |
| 2 | NEW JERSEY ST EDUCTNL | 5.00% | 07/01/26 | 4.52% | 119.44 | 114.28 |
| 3 | ALHAMBRA SD CAB-B | 0.00% | 09/01/31 | 3.69% | 81.35 | 78.45 |
| 4 | PR ELEC-WW | 5.50% | 07/01/21 | 3.24% | 69.02 | 66.86 |
| 5 | WESTCHESTER LOCAL-A | 6.25% | 06/01/50 | 3.23% | 110.24 | 106.79 |
| 6 | SAN DIEGO CNTY CA-B | 5.00% | 07/01/29 | 3.22% | 128.91 | 124.88 |
| 7 | SPRING BRANCH ISD | 3.00% | 02/01/33 | 3.21% | 117.49 | 113.84 |
| 8 | NJ HSG & MTGE-A-REF | 3.25% | 11/01/33 | 2.93% | 107.64 | 104.58 |
| 9 | MISSISSIPPI ST-B | 3.00% | 10/01/34 | 2.81% | 113.73 | 110.63 |
| 10 | PR SALES TAX FING-A1 | 0.00% | 07/01/33 | 2.65% | 69.80 | 68.00 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 11/6/20 – 11/13/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | OCEANSIDE USD-CABS-B | 0.00% | 08/01/38 | -6.71% | 68.68 | 73.62 |
| 2 | MACON CO BOE WTS-REF | 3.25% | 02/01/34 | -3.79% | 106.02 | 110.20 |
| 3 | MIDDLESEX IMPT TXB-JR | 0.00% | 10/01/26 | -3.24% | 90.65 | 93.69 |
| 4 | UNIV CA RGTS-M-TXBL | 3.29% | 05/15/36 | -2.32% | 111.05 | 113.69 |
| 5 | CALIFORNIA ST | 3.25% | 04/01/45 | -2.07% | 108.53 | 110.83 |
| 6 | CHICAGO IL | 5.63% | 01/01/31 | -2.02% | 107.72 | 109.94 |
| 7 | HADLEY TWN | 2.00% | 02/01/47 | -1.99% | 96.04 | 97.99 |
| 8 | VA RESOURCES AUTH-C | 2.15% | 11/01/35 | -1.96% | 97.58 | 99.53 |
| 9 | WARRENSVILLE ETC SD | 0.00% | 12/01/31 | -1.95% | 76.97 | 78.49 |
| 10 | UPPER OCCOQUAN -REF | 1.90% | 07/01/34 | -1.87% | 98.65 | 100.54 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 11/6/20 – 11/13/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -69 bps | 1.44% | 2.13% |
| 2 | CO | -45 bps | 1.36% | 1.81% |
| 3 | AZ | -27 bps | 1.78% | 2.05% |
| 4 | MI | -19 bps | 1.73% | 1.92% |
| 5 | AR | -18 bps | 1.48% | 1.65% |
| 6 | UT | -15 bps | 1.03% | 1.18% |
| 7 | IL | -14 bps | 3.15% | 3.28% |
| 8 | CT | -13 bps | 1.97% | 2.10% |
| 9 | MA | -12 bps | 1.66% | 1.78% |
| 10 | NV | -9 bps | 1.91% | 1.99% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 11/6/20 – 11/13/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | IN | 34 bps | 2.15% | 1.81% |
| 2 | AL | 29 bps | 1.55% | 1.26% |
| 3 | TN | 24 bps | 1.64% | 1.41% |
| 4 | LA | 20 bps | 2.21% | 2.01% |
| 5 | WA | 16 bps | 1.63% | 1.47% |
| 6 | MS | 14 bps | 1.58% | 1.44% |
| 7 | DC | 12 bps | 1.48% | 1.35% |
| 8 | IA | 12 bps | 1.52% | 1.40% |
| 9 | WV | 11 bps | 1.31% | 1.20% |
| 10 | MN | 11 bps | 1.76% | 1.65% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 11/6/20 – 11/13/20 (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 11/6/20 – 11/13/20 (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 11/6/20 – 11/13/20 (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 11/6/20 – 11/13/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 11/6/20 vs. the week ending 11/13/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | NEW YORK CITY -C | 5.00% | 08/01/43 | 95 | 160 | 65 | 68% |
| 2 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/43 | 36 | 95 | 59 | 164% |
| 3 | CHARLOTTE-REF | 5.00% | 07/01/27 | 10 | 64 | 54 | 540% |
| 4 | LEAGUE CITY-REF | 5.00% | 02/15/29 | 14 | 64 | 50 | 357% |
| 5 | LEAGUE CITY-REF | 5.00% | 02/15/28 | 14 | 64 | 50 | 357% |
| 6 | UNIV OF DELAWARE DE-A | 5.00% | 11/01/30 | 3 | 53 | 50 | 1667% |
| 7 | LOUDOUN CO-B-REF | 5.00% | 12/01/26 | 30 | 79 | 49 | 163% |
| 8 | ILLINOIS ST-B | 4.00% | 10/01/34 | 33 | 82 | 49 | 148% |
| 9 | LOS ANGELES USD-B-REF | 5.00% | 07/01/27 | 42 | 88 | 46 | 110% |
| 10 | HAMPTON ROADS VA TRAN | 4.00% | 07/01/60 | 6 | 50 | 44 | 733% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 11/6/20 – 11/13/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 43 |
| 2 | MISSOURI ST HLTH & ED | 3.00% | 06/01/53 | 35 |
| 3 | NEW YORK CITY -C | 5.00% | 08/01/43 | 32 |
| 4 | TX WTR DEV BRD-B | 5.00% | 04/15/49 | 29 |
| 5 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/45 | 29 |
| 6 | TEXAS ST WTR DEV BRD | 4.00% | 10/15/45 | 27 |
| 7 | NEW YORK CITY NY MUNI | 3.00% | 06/15/50 | 27 |
| 8 | NEW YORK CITY NY MUNI | 4.00% | 06/15/50 | 26 |
| 9 | DASNY -A -REF -GROUP | 3.00% | 03/15/49 | 26 |
| 10 | NEW YORK CITY NY TRAN | 4.00% | 05/01/40 | 26 |
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