Municipal Bond Market Summary – Week Ending 12/24/20
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Municipal Bond Market Summary: Week Ending 12/24/20
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 12/18/20 – 12/24/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR ELEC PWR-XX | 4.88% | 07/01/27 | 4.47% | 79.40 | 76.00 |
| 2 | AR DEV TOBACCO CANCER | 0.00% | 07/01/36 | 3.57% | 72.77 | 70.26 |
| 3 | NEW YORK NY-C-1-REF | 5.00% | 08/01/34 | 3.00% | 133.69 | 129.80 |
| 4 | MET TRANS AUTH-B-2 | 4.00% | 11/15/38 | 2.91% | 111.25 | 108.10 |
| 5 | NEW JERSEY ST TRANSPR | 2.63% | 06/15/24 | 2.77% | 103.92 | 101.12 |
| 6 | ARIZONA INDL DEV AUTH | 3.00% | 02/01/45 | 2.72% | 106.01 | 103.21 |
| 7 | SAN JOSE ARPT-B-REF | 5.00% | 03/01/42 | 2.66% | 122.85 | 119.67 |
| 8 | MICHIGAN ST HOSP FIN | 5.00% | 12/01/29 | 2.49% | 129.19 | 126.04 |
| 9 | E CHINA SCH DIST | 3.00% | 05/01/41 | 2.36% | 110.62 | 108.07 |
| 10 | MD CMNTY DEV ADMIN-D | 2.93% | 09/01/34 | 2.23% | 105.50 | 103.20 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 12/18/20 – 12/24/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CALIFORNIA ST EDUCTNL | 5.00% | 06/01/46 | -6.96% | 161.44 | 173.51 |
| 2 | NORTHSTAR SVCS-CFD #1 | 5.00% | 09/01/37 | -6.73% | 65.42 | 70.14 |
| 3 | PHILA SD-A-QSCB | 6.00% | 09/01/30 | -3.23% | 123.39 | 127.51 |
| 4 | SAN FRANCISCO CITY-H | 3.15% | 11/01/47 | -3.09% | 105.19 | 108.55 |
| 5 | FRESNO JT PWRS-TXB-C | 5.90% | 10/01/29 | -2.84% | 120.02 | 123.53 |
| 6 | ORANGE CO SAN DIST-C | 6.40% | 02/01/44 | -2.50% | 156.21 | 160.21 |
| 7 | NEW YORK ST ENVRNMNTL | 5.00% | 06/15/28 | -2.43% | 129.21 | 132.43 |
| 8 | HOWELL MTN | 0.00% | 08/01/32 | -1.98% | 79.31 | 80.91 |
| 9 | ALAMEDA TRANSN-CAB-C | 0.00% | 10/01/30 | -1.95% | 79.05 | 80.62 |
| 10 | CROSBY ISD-REF-TXBL | 2.64% | 02/15/43 | -1.63% | 102.79 | 104.50 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 12/18/20 – 12/24/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DC | -41 bps | 1.15% | 1.56% |
| 2 | NH | -30 bps | 0.77% | 1.08% |
| 3 | WI | -25 bps | 1.28% | 1.53% |
| 4 | LA | -23 bps | 1.28% | 1.51% |
| 5 | AL | -15 bps | 1.56% | 1.71% |
| 6 | NE | -13 bps | 0.96% | 1.09% |
| 7 | WV | -11 bps | 1.10% | 1.21% |
| 8 | UT | -7 bps | 1.18% | 1.24% |
| 9 | NC | -7 bps | 0.93% | 0.99% |
| 10 | OR | -5 bps | 1.57% | 1.62% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 12/18/20 – 12/24/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | 59 bps | 2.15% | 1.55% |
| 2 | MO | 41 bps | 2.22% | 1.81% |
| 3 | AR | 39 bps | 2.23% | 1.84% |
| 4 | CT | 29 bps | 2.06% | 1.76% |
| 5 | MD | 23 bps | 1.37% | 1.13% |
| 6 | NJ | 21 bps | 1.87% | 1.66% |
| 7 | NY | 15 bps | 1.78% | 1.63% |
| 8 | SC | 13 bps | 1.22% | 1.09% |
| 9 | NV | 11 bps | 1.75% | 1.64% |
| 10 | MS | 9 bps | 1.34% | 1.25% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 12/18/20 – 12/24/20 (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 12/18/20 – 12/24/20 (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 12/18/20 – 12/24/20 (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 12/18/20 – 12/24/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 12/18/20 vs. the week ending 12/24/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CALIFORNIA ST | 5.00% | 03/01/31 | 58 | 100 | 42 | 72% |
| 2 | NEW YORK ST URBAN DEV | 5.00% | 03/15/37 | 8 | 45 | 37 | 463% |
| 3 | NJ TRN FD CAB-SER C | 0.00% | 12/15/29 | 25 | 60 | 35 | 140% |
| 4 | TRIBOROUGH NY BRIDGE | 5.00% | 11/15/36 | 21 | 54 | 33 | 157% |
| 5 | NEW YORK ST URBAN DEV | 5.00% | 03/15/31 | 23 | 55 | 32 | 139% |
| 6 | S CA PUB PWR AUTH-A | 5.00% | 07/01/22 | 11 | 43 | 32 | 291% |
| 7 | GLADEWATER TX CO ISD | 2.41% | 08/15/44 | 3 | 34 | 31 | 1033% |
| 8 | ESTRN MUNI WTR DT-A | 5.00% | 07/01/37 | 9 | 40 | 31 | 344% |
| 9 | GLADEWATER TX CO ISD | 2.21% | 08/15/40 | 7 | 38 | 31 | 443% |
| 10 | SOUTHCENTRL PA GEN AU | 5.00% | 06/01/38 | 10 | 40 | 30 | 300% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 12/18/20 – 12/24/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 37 |
| 2 | CALIFORNIA ST | 5.00% | 03/01/35 | 34 |
| 3 | MASSACHUSETTS ST | 4.00% | 11/01/40 | 31 |
| 4 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 30 |
| 5 | MASSACHUSETTS ST | 4.00% | 11/01/35 | 29 |
| 6 | MASSACHUSETTS ST | 4.00% | 11/01/41 | 29 |
| 7 | NYC MUNI WTR FIN -BB1 | 5.00% | 06/15/49 | 29 |
| 8 | CALIFORNIA ST-REF | 5.00% | 11/01/29 | 27 |
| 9 | MARYLAND ST-B-REF | 5.00% | 08/01/25 | 26 |
| 10 | MASSACHUSETTS ST | 4.00% | 11/01/36 | 26 |
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