Municipal Bond Market Summary – Week Ending 11/27/20
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Municipal Bond Market Summary: Week Ending 11/27/20
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 11/20/20 – 11/27/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BASSETT USD-CABS-C | 0.00% | 08/01/40 | 7.49% | 62.42 | 58.07 |
| 2 | PR ELEC SER TT | 5.00% | 07/01/17 | 7.43% | 64.42 | 59.96 |
| 3 | S JERSEY PORT CORP-P3 | 7.37% | 01/01/40 | 6.86% | 133.38 | 124.82 |
| 4 | PA TPK COMMISSION | 3.34% | 12/01/39 | 6.74% | 111.66 | 104.61 |
| 5 | PUERTO RICO PUB IMPT | 6.00% | 07/01/32 | 6.44% | 71.24 | 66.93 |
| 6 | MO HLTH & EDUCTNL FAC | 3.00% | 11/15/50 | 5.00% | 104.44 | 99.46 |
| 7 | NEW JERSEY ST TRANSPR | 5.25% | 06/15/44 | 4.20% | 121.77 | 116.86 |
| 8 | CALIFORNIA ST MUNI FI | 5.00% | 10/01/26 | 4.02% | 119.08 | 114.47 |
| 9 | W CONTRA COSTA USD | 2.61% | 08/01/32 | 4.01% | 107.39 | 103.26 |
| 10 | NYC SER H-1-BABS | 5.85% | 06/01/40 | 3.74% | 148.77 | 143.41 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 11/20/20 – 11/27/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PARAMOUNT USD-CABS | 0.00% | 08/01/36 | -2.06% | 70.03 | 71.50 |
| 2 | TEXAS ST PUB FIN AUTH | 4.00% | 12/01/28 | -1.62% | 116.43 | 118.35 |
| 3 | SAN GABRIEL USD-C-CAB | 0.00% | 08/01/31 | -1.60% | 84.34 | 85.71 |
| 4 | SANGER USD-B | 3.00% | 08/01/37 | -1.54% | 109.51 | 111.22 |
| 5 | WESTCHESTER CO | 5.00% | 06/01/26 | -1.23% | 111.45 | 112.84 |
| 6 | DIST OF COLUMBIA-REF | 5.00% | 04/01/33 | -1.17% | 120.29 | 121.71 |
| 7 | DONNA ISD | 5.00% | 02/15/28 | -1.14% | 130.42 | 131.92 |
| 8 | UNIV OF CA-TXBL-AD | 4.86% | 05/15/12 | -1.10% | 140.16 | 141.71 |
| 9 | SALES TAX-B-REF-TXBL | 3.59% | 01/01/43 | -1.07% | 104.68 | 105.81 |
| 10 | EL PASO WTR SWR -REF | 5.00% | 03/01/26 | -1.05% | 114.30 | 115.51 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 11/20/20 – 11/27/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DC | -89 bps | 0.81% | 1.69% |
| 2 | LA | -60 bps | 1.36% | 1.95% |
| 3 | KS | -47 bps | 1.34% | 1.82% |
| 4 | MN | -46 bps | 1.22% | 1.68% |
| 5 | VA | -42 bps | 1.16% | 1.58% |
| 6 | WI | -42 bps | 1.38% | 1.80% |
| 7 | IL | -36 bps | 2.31% | 2.67% |
| 8 | CT | -34 bps | 1.50% | 1.84% |
| 9 | NE | -33 bps | 1.17% | 1.50% |
| 10 | AL | -33 bps | 1.03% | 1.36% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 11/20/20 – 11/27/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | FL | 20 bps | 1.59% | 1.39% |
| 2 | OH | 16 bps | 2.01% | 1.85% |
| 3 | NV | 15 bps | 1.98% | 1.83% |
| 4 | GA | 6 bps | 1.27% | 1.21% |
| 5 | MA | 6 bps | 1.47% | 1.42% |
| 6 | HI | 4 bps | 1.73% | 1.69% |
| 7 | NJ | 3 bps | 1.54% | 1.51% |
| 8 | CO | 2 bps | 1.35% | 1.33% |
| 9 | TN | 2 bps | 1.34% | 1.32% |
| 10 | WV | 2 bps | 1.10% | 1.08% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 11/20/20 – 11/27/20 (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 11/20/20 – 11/27/20 (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 11/20/20 – 11/27/20 (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 11/20/20 – 11/27/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 11/20/20 vs. the week ending 11/27/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | LA DEPT ARPTS-A-REF | 5.00% | 05/15/37 | 11 | 77 | 66 | 600% |
| 2 | MA DEV FIN AGY-I | 5.00% | 07/01/33 | 11 | 69 | 58 | 527% |
| 3 | LA DEPT ARPTS-A-REF | 5.00% | 05/15/36 | 9 | 65 | 56 | 622% |
| 4 | HOUSTON UTL SYS-C-REF | 5.00% | 11/15/28 | 1 | 52 | 51 | 5100% |
| 5 | BOERNE ISD-TXBL-REF | 2.43% | 02/01/39 | 1 | 52 | 51 | 5100% |
| 6 | BOERNE ISD-TXBL-REF | 2.23% | 02/01/37 | 1 | 51 | 50 | 5000% |
| 7 | BOERNE ISD-TXBL-REF | 2.58% | 02/01/41 | 1 | 51 | 50 | 5000% |
| 8 | BOERNE ISD-TXBL-REF | 2.53% | 02/01/40 | 1 | 51 | 50 | 5000% |
| 9 | LOS ANGELES CO MTA -A | 5.00% | 06/01/35 | 11 | 60 | 49 | 445% |
| 10 | MARYLAND ST -A | 5.00% | 03/15/29 | 27 | 76 | 49 | 181% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 11/20/20 – 11/27/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 44 |
| 2 | DASNY -A -REF -GROUP | 3.00% | 03/15/49 | 31 |
| 3 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/45 | 30 |
| 4 | NEW YORK CITY -C | 5.00% | 08/01/43 | 29 |
| 5 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/39 | 29 |
| 6 | NEW YORK ST URBAN DEV | 4.00% | 03/15/37 | 28 |
| 7 | UNIV OF TEXAS UNIV-A | 5.00% | 08/15/30 | 28 |
| 8 | TX WTR DEV BRD-B | 5.00% | 04/15/49 | 28 |
| 9 | ALABAMA PUB SCH & CLG | 4.00% | 11/01/40 | 28 |
| 10 | LAREDO-A | 4.00% | 03/01/50 | 27 |
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