Municipal Bond Market Summary – Week Ending 11/5/21
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Municipal Bond Market Summary: Week Ending 11/5/21
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 10/29/21 – 11/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR HWY/TRN-G-UNREF | 5.00% | 07/01/33 | 18.05% | 58.05 | 49.17 |
| 2 | NY DORM AUTH-A | 5.00% | 10/01/47 | 3.27% | 156.71 | 151.75 |
| 3 | CALIFORNIA ST EDUCTNL | 5.00% | 05/01/49 | 2.95% | 157.72 | 153.21 |
| 4 | LOWER COLORADO RIVER | 5.00% | 05/15/38 | 2.76% | 127.70 | 124.28 |
| 5 | ND ST HGR EDU BRD-REF | 2.00% | 08/01/40 | 2.67% | 93.67 | 91.23 |
| 6 | ROBLA SCH DIST-REF | 2.60% | 08/01/40 | 2.63% | 100.64 | 98.07 |
| 7 | OHLONE CCD-REF-TXBL | 2.44% | 08/01/35 | 2.42% | 102.11 | 99.69 |
| 8 | FALL RIVER MA | 2.00% | 12/01/44 | 2.18% | 93.75 | 91.75 |
| 9 | GRAPEVINE TX | 2.00% | 02/15/41 | 2.06% | 96.70 | 94.75 |
| 10 | MO ST BRD OF PUB-A | 2.40% | 04/01/34 | 1.94% | 101.88 | 99.95 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 10/29/21 – 11/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | LANCASTER REDEV AGY-A | 3.00% | 08/01/34 | -3.63% | 103.89 | 107.81 |
| 2 | CSCDA CMNTY IMPT AUTH | 3.00% | 09/01/56 | -2.95% | 93.83 | 96.68 |
| 3 | INGLEWOOD | 3.77% | 09/01/45 | -2.69% | 105.55 | 108.47 |
| 4 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/35 | -2.09% | 118.97 | 121.52 |
| 5 | CARMEL IMPT BD BK | 5.00% | 07/15/29 | -1.95% | 118.81 | 121.18 |
| 6 | FORT BEND CO MUNI MGM | 2.38% | 09/01/40 | -1.93% | 96.40 | 98.30 |
| 7 | SAN LUIS UNIT FING-A | 2.51% | 09/01/30 | -1.88% | 103.61 | 105.59 |
| 8 | MT BRD OF HSG-B1 | 4.00% | 12/01/38 | -1.83% | 105.63 | 107.60 |
| 9 | LODI USD | 5.00% | 08/01/34 | -1.76% | 121.53 | 123.71 |
| 10 | SAN FRANCISCO APRT-D | 5.00% | 05/01/28 | -1.61% | 124.70 | 126.74 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 10/29/21 – 11/5/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NJ | -22 bps | 1.88% | 2.10% |
| 2 | MA | -22 bps | 1.86% | 2.08% |
| 3 | KS | -18 bps | 2.08% | 2.25% |
| 4 | TX | -9 bps | 2.27% | 2.36% |
| 5 | NY | -9 bps | 2.22% | 2.31% |
| 6 | OH | -7 bps | 1.96% | 2.03% |
| 7 | MO | -5 bps | 2.42% | 2.48% |
| 8 | WV | -5 bps | 1.73% | 1.79% |
| 9 | IL | -5 bps | 2.27% | 2.31% |
| 10 | UT | -5 bps | 1.78% | 1.83% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 10/29/21 – 11/5/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MI | 42 bps | 2.19% | 1.77% |
| 2 | LA | 26 bps | 2.44% | 2.18% |
| 3 | OR | 23 bps | 2.08% | 1.85% |
| 4 | PA | 20 bps | 2.28% | 2.08% |
| 5 | MS | 19 bps | 2.04% | 1.85% |
| 6 | HI | 18 bps | 2.67% | 2.49% |
| 7 | WI | 18 bps | 2.42% | 2.24% |
| 8 | NV | 17 bps | 1.91% | 1.74% |
| 9 | CO | 16 bps | 1.77% | 1.61% |
| 10 | SC | 15 bps | 1.99% | 1.83% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 10/29/21 – 11/5/21 (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 10/29/21 – 11/5/21 (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 10/29/21 – 11/5/21 (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 10/29/21 – 11/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 10/29/21 vs. the week ending 11/5/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | AUSTIN TX WTR & WSTWT | 4.00% | 11/15/51 | 9 | 60 | 51 | 567% |
| 2 | WASHINGTON ST-2020A | 5.00% | 08/01/37 | 18 | 64 | 46 | 256% |
| 3 | WACO EDU FIN CORP | 4.00% | 03/01/51 | 16 | 62 | 46 | 288% |
| 4 | NEW YORK ST DORM AUTH | 5.00% | 07/01/51 | 27 | 69 | 42 | 156% |
| 5 | ALAMEDA USD-B | 5.00% | 08/01/42 | 17 | 59 | 42 | 247% |
| 6 | AUBURN UNIV GEN FEE | 5.00% | 06/01/34 | 11 | 53 | 42 | 382% |
| 7 | AUSTIN TX WTR & WSTWT | 4.00% | 11/15/40 | 5 | 46 | 41 | 820% |
| 8 | MET GOVT NASHVILLE | 5.00% | 01/01/28 | 25 | 63 | 38 | 152% |
| 9 | PA TPK COMM-A-REF | 5.00% | 12/01/46 | 31 | 68 | 37 | 119% |
| 10 | PA TPK 2ND SER SPL | 5.00% | 12/01/31 | 31 | 68 | 37 | 119% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 10/29/21 – 11/5/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 29 |
| 2 | NYC MUNI WTR FIN-BB-1 | 4.00% | 06/15/45 | 29 |
| 3 | CALIFORNIA ST-REF | 5.00% | 09/01/29 | 28 |
| 4 | CALIFORNIA ST | 4.00% | 10/01/37 | 28 |
| 5 | CALIFORNIA ST-REF | 4.00% | 10/01/41 | 25 |
| 6 | PENNSYLVANIA ST TURNP | 4.00% | 12/01/46 | 25 |
| 7 | SALT LAKE-A-AMT | 5.00% | 07/01/46 | 25 |
| 8 | NYC MUNI WTR FIN-AA-1 | 5.00% | 06/15/48 | 25 |
| 9 | CALIFORNIA CMNTY CHOI | 4.00% | 02/01/52 | 24 |
| 10 | NEW YORK ST DORM AUTH | 5.00% | 10/01/50 | 24 |
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