Municipal Bond Market Summary – Week Ending 12/4/20
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Municipal Bond Market Summary: Week Ending 12/4/20
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 11/27/20 – 12/4/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CO HLTH FACS AUTH-A | 5.75% | 11/01/47 | 5.69% | 82.76 | 78.30 |
| 2 | LA DEPT ARPTS-A-REF | 5.00% | 05/15/40 | 4.67% | 129.71 | 123.92 |
| 3 | NYC TRANSITIONAL FIN | 4.00% | 11/01/38 | 4.44% | 121.26 | 116.10 |
| 4 | PR BLDG-D-UNREF-GOVT | 5.25% | 07/01/27 | 4.29% | 83.68 | 80.24 |
| 5 | BIRMINGHAM-REF | 3.57% | 01/01/45 | 4.22% | 109.60 | 105.17 |
| 6 | HAWAII ST-GC | 2.71% | 10/01/39 | 4.17% | 103.52 | 99.37 |
| 7 | VICTOR VY CLG-CABS-C | 0.00% | 08/01/33 | 4.14% | 79.57 | 76.41 |
| 8 | FRISCO ISD | 3.00% | 02/15/37 | 4.01% | 114.46 | 110.05 |
| 9 | HALLSVILLE ISD-REF | 3.00% | 02/15/39 | 3.84% | 113.08 | 108.90 |
| 10 | NJ TRN TR FD BABS | 6.56% | 12/15/40 | 3.75% | 132.73 | 127.93 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 11/27/20 – 12/4/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UNIV OF MINNESOTA-B | 2.30% | 11/01/38 | -7.03% | 98.08 | 105.49 |
| 2 | OXNARD FING-B-BABS | 6.80% | 06/01/36 | -5.23% | 138.80 | 146.46 |
| 3 | SC PUB SVC AUTH-E-TXL | 4.55% | 12/01/30 | -4.39% | 118.69 | 124.14 |
| 4 | COLORADO HSG & FIN-B1 | 2.75% | 10/01/34 | -3.29% | 108.19 | 111.87 |
| 5 | W CONTRA COSTA USD | 2.61% | 08/01/32 | -3.20% | 103.96 | 107.39 |
| 6 | PORT OF PORTLAND-TXBL | 3.72% | 07/01/30 | -2.23% | 101.96 | 104.29 |
| 7 | KANE CO SD #131-B | 4.15% | 06/01/41 | -2.05% | 114.05 | 116.44 |
| 8 | GRAND PARKWAY-E | 5.18% | 10/01/42 | -1.95% | 137.72 | 140.46 |
| 9 | MTA-A1-TRANSPRTN | 5.00% | 11/15/30 | -1.95% | 109.90 | 112.08 |
| 10 | NYC HSG DEV CORP-L | 3.29% | 11/01/44 | -1.77% | 110.64 | 112.63 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 11/27/20 – 12/4/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MD | -56 bps | 0.79% | 1.34% |
| 2 | OH | -36 bps | 1.65% | 2.01% |
| 3 | DC | -28 bps | 0.80% | 1.07% |
| 4 | TX | -22 bps | 1.41% | 1.63% |
| 5 | NE | -22 bps | 0.97% | 1.19% |
| 6 | TN | -21 bps | 1.13% | 1.34% |
| 7 | FL | -15 bps | 1.42% | 1.58% |
| 8 | CO | -14 bps | 1.21% | 1.35% |
| 9 | NJ | -14 bps | 1.40% | 1.54% |
| 10 | CA | -13 bps | 1.45% | 1.58% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 11/27/20 – 12/4/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | IL | 70 bps | 3.01% | 2.31% |
| 2 | MN | 55 bps | 1.75% | 1.20% |
| 3 | ME | 40 bps | 1.50% | 1.10% |
| 4 | KS | 38 bps | 2.01% | 1.64% |
| 5 | LA | 30 bps | 1.63% | 1.32% |
| 6 | AL | 23 bps | 1.26% | 1.03% |
| 7 | SC | 22 bps | 1.09% | 0.87% |
| 8 | CT | 22 bps | 1.71% | 1.50% |
| 9 | MS | 19 bps | 1.46% | 1.27% |
| 10 | IA | 17 bps | 1.41% | 1.25% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 11/27/20 – 12/4/20 (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 11/27/20 – 12/4/20 (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 11/27/20 – 12/4/20 (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 11/27/20 – 12/4/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 11/27/20 vs. the week ending 12/4/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MARYLAND ST-B-REF | 5.00% | 08/01/25 | 30 | 111 | 81 | 270% |
| 2 | CALIFORNIA ST UNIV-B | 2.97% | 11/01/39 | 6 | 62 | 56 | 933% |
| 3 | FORT WORTH ISD-REF | 5.00% | 02/15/25 | 15 | 68 | 53 | 353% |
| 4 | S FL WTR MGMT DT-COPS | 5.00% | 10/01/25 | 4 | 55 | 51 | 1275% |
| 5 | ROCKWALL ISD | 4.00% | 02/15/50 | 43 | 91 | 48 | 112% |
| 6 | HOUSTON UTL SYS-C-REF | 5.00% | 11/15/32 | 5 | 51 | 46 | 920% |
| 7 | TRINITY RVR AUTH-REF | 5.00% | 08/01/30 | 20 | 66 | 46 | 230% |
| 8 | FORT WORTH ISD | 5.00% | 02/15/26 | 5 | 50 | 45 | 900% |
| 9 | SPRING BRANCH ISD | 5.00% | 02/01/26 | 10 | 55 | 45 | 450% |
| 10 | AUSTIN-C-REF-REV | 5.00% | 11/15/31 | 5 | 49 | 44 | 880% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 11/27/20 – 12/4/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 43 |
| 2 | DASNY -A -REF -GROUP | 3.00% | 03/15/49 | 31 |
| 3 | NYC MUNI WTR FIN -BB1 | 5.00% | 06/15/49 | 30 |
| 4 | CYPRESS FAIRBANKS ISD | 2.25% | 02/15/45 | 30 |
| 5 | CALIFORNIA ST-REF | 5.00% | 11/01/29 | 29 |
| 6 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/39 | 29 |
| 7 | LAREDO-A | 4.00% | 03/01/45 | 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 | NEW YORK CITY -C | 5.00% | 08/01/43 | 28 |
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