Municipal Bond Market Summary – Week Ending 12/11/20
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Municipal Bond Market Summary: Week Ending 12/11/20
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 12/4/20 – 12/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR ELEC SER TT | 5.00% | 07/01/27 | 20.19% | 72.42 | 60.25 |
| 2 | CHICAGO TRANSIT AUTH | 3.55% | 12/01/34 | 9.22% | 118.40 | 108.40 |
| 3 | IN FIN AUTH-MAJOR | 5.00% | 10/01/44 | 8.19% | 113.44 | 104.85 |
| 4 | NJ TRN TR FD-A-CABS | 0.00% | 12/15/28 | 4.71% | 84.88 | 81.07 |
| 5 | SPRING BRANCH ISD | 2.25% | 02/01/39 | 4.36% | 105.18 | 100.78 |
| 6 | HUNTSVILLE HLTH CARE | 3.00% | 06/01/50 | 3.82% | 105.76 | 101.87 |
| 7 | GRAND PARKWAY-E | 5.18% | 10/01/42 | 3.69% | 142.81 | 137.72 |
| 8 | ILLINOIS ST -C | 4.00% | 10/01/37 | 3.53% | 106.81 | 103.17 |
| 9 | UNIV OF CALIFORNIA-H | 6.55% | 05/15/48 | 3.28% | 162.51 | 157.35 |
| 10 | SYRACUSE NY INDL DEV | 5.00% | 01/01/30 | 3.14% | 96.43 | 93.50 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 12/4/20 – 12/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | KY PPTY BLDG-BABS-C | 5.37% | 11/01/25 | -6.69% | 109.10 | 116.93 |
| 2 | NTHRN IL PWR-C | 6.86% | 01/01/39 | -3.76% | 136.93 | 142.28 |
| 3 | BAY AREA CA TOLL AUTH | 3.50% | 04/01/47 | -2.05% | 111.76 | 114.10 |
| 4 | RUTGERS UNIV-P-TXBL | 3.92% | 05/01/19 | -1.99% | 111.00 | 113.25 |
| 5 | SALINAS PUB FAC INC | 3.25% | 12/01/32 | -1.47% | 110.07 | 111.70 |
| 6 | UNIV CA-BABS | 6.46% | 05/15/29 | -1.34% | 128.25 | 129.99 |
| 7 | PASSAIC VLY SEWAGE-I | 3.00% | 12/01/33 | -1.19% | 110.31 | 111.64 |
| 8 | ALAMEDA FING-B | 6.52% | 07/01/27 | -1.15% | 123.43 | 124.86 |
| 9 | MERCED UHSD-C-CABS | 0.00% | 08/01/29 | -1.07% | 88.65 | 89.61 |
| 10 | BAYONNE REF-TXB-PENSI | 5.68% | 01/15/33 | -1.00% | 122.35 | 123.59 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 12/4/20 – 12/11/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -47 bps | 1.68% | 2.14% |
| 2 | MN | -40 bps | 1.41% | 1.81% |
| 3 | LA | -29 bps | 1.34% | 1.63% |
| 4 | SC | -20 bps | 0.89% | 1.09% |
| 5 | MS | -16 bps | 1.30% | 1.46% |
| 6 | NV | -15 bps | 1.72% | 1.87% |
| 7 | FL | -14 bps | 1.31% | 1.45% |
| 8 | IL | -13 bps | 2.89% | 3.01% |
| 9 | IA | -10 bps | 1.34% | 1.44% |
| 10 | ME | -10 bps | 1.41% | 1.50% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 12/4/20 – 12/11/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MO | 97 bps | 2.26% | 1.29% |
| 2 | AR | 57 bps | 1.87% | 1.30% |
| 3 | DC | 50 bps | 1.31% | 0.81% |
| 4 | MD | 46 bps | 1.24% | 0.79% |
| 5 | AL | 44 bps | 1.70% | 1.26% |
| 6 | NJ | 30 bps | 1.70% | 1.40% |
| 7 | NM | 27 bps | 1.19% | 0.92% |
| 8 | OH | 26 bps | 1.91% | 1.65% |
| 9 | AZ | 25 bps | 1.56% | 1.31% |
| 10 | TX | 24 bps | 1.65% | 1.41% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 12/4/20 – 12/11/20 (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 12/4/20 – 12/11/20 (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 12/4/20 – 12/11/20 (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 12/4/20 – 12/11/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 12/4/20 vs. the week ending 12/11/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | VIRGINIA CLG BLDG AUT | 4.00% | 02/01/37 | 36 | 95 | 59 | 164% |
| 2 | VIRGINIA CLG BLDG AUT | 4.00% | 02/01/36 | 41 | 100 | 59 | 144% |
| 3 | MASSACHUSETTS ST TRAN | 5.00% | 06/01/49 | 11 | 65 | 54 | 491% |
| 4 | DIST OF COLUMBIA INC | 5.00% | 03/01/34 | 38 | 90 | 52 | 137% |
| 5 | TEXAS ST WTR DEV BRD | 5.00% | 04/15/30 | 55 | 104 | 49 | 89% |
| 6 | LOS ANGELES CA DEPT O | 5.00% | 07/01/36 | 10 | 58 | 48 | 480% |
| 7 | HAMPTON ROADS VA TRAN | 4.00% | 07/01/45 | 16 | 64 | 48 | 300% |
| 8 | TRI-CNTY OR MET TRANS | 3.00% | 09/01/36 | 9 | 54 | 45 | 500% |
| 9 | CHICAGO O’HARE ARPT-A | 5.00% | 01/01/34 | 12 | 56 | 44 | 367% |
| 10 | HOUSTON PORT AUTH -A | 5.00% | 10/01/27 | 20 | 64 | 44 | 220% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 12/4/20 – 12/11/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 43 |
| 2 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 36 |
| 3 | NYC MUNI WTR FIN -BB1 | 5.00% | 06/15/49 | 32 |
| 4 | DASNY -A -REF -GROUP | 3.00% | 03/15/49 | 31 |
| 5 | NEW YORK ST URBAN DEV | 3.00% | 03/15/48 | 31 |
| 6 | MASSACHUSETTS ST | 4.00% | 11/01/40 | 30 |
| 7 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/45 | 30 |
| 8 | TX WTR DEV BRD-B | 5.00% | 04/15/49 | 29 |
| 9 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/39 | 29 |
| 10 | CALIFORNIA ST | 5.00% | 03/01/35 | 29 |
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