Municipal Bond Market Summary – Week Ending 2/19/21
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Municipal Bond Market Summary: Week Ending 2/19/21
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 2/12/21 – 2/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PUBLIC FIN AUTH-A | 6.25% | 08/01/27 | 3.88% | 109.56 | 105.47 |
| 2 | SANTA BARBARA HSD-A | 0.00% | 08/01/40 | 3.84% | 64.62 | 62.23 |
| 3 | PR ELEC PWR-BBB | 5.40% | 07/01/28 | 3.78% | 89.70 | 86.43 |
| 4 | HI ARPTS SYS CUST FAC | 3.13% | 07/01/26 | 2.80% | 110.34 | 107.34 |
| 5 | PUBLIC FIN AUTH WI LI | 7.00% | 12/01/50 | 2.79% | 111.64 | 108.61 |
| 6 | NEW ORLEANS WTR | 5.00% | 12/01/29 | 2.55% | 121.91 | 118.88 |
| 7 | SALINAS ECON-A-REF | 5.00% | 07/01/27 | 2.52% | 123.01 | 119.99 |
| 8 | TAMPA HOSP REVENUE-B | 5.00% | 07/01/34 | 2.45% | 131.63 | 128.48 |
| 9 | CONNECTICUT ST HLTH & | 4.00% | 07/01/41 | 2.42% | 116.74 | 113.99 |
| 10 | NASSAU CNTY-REF-A | 5.00% | 01/01/28 | 2.00% | 122.23 | 119.82 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 2/12/21 – 2/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MS DEV-BABS-HARRISON | 6.59% | 01/01/35 | -9.29% | 130.29 | 143.63 |
| 2 | MD CMNTY DEV-A | 3.85% | 09/01/42 | -8.69% | 101.13 | 110.75 |
| 3 | DC WTR & SWR-A-TXBL | 4.81% | 10/01/14 | -8.37% | 135.75 | 148.16 |
| 4 | UNIV OF VA-C-TXBL | 4.18% | 09/01/17 | -6.43% | 122.18 | 130.58 |
| 5 | DASNY-F-UNREFUNDED | 3.19% | 02/15/43 | -5.11% | 105.84 | 111.55 |
| 6 | KIRTLAND CMNTY CLG | 3.00% | 05/01/39 | -4.76% | 108.78 | 114.21 |
| 7 | MI FIN | 8.37% | 11/01/35 | -4.71% | 148.64 | 155.99 |
| 8 | RUTGERS NJ ST UNIV | 3.27% | 05/01/43 | -4.63% | 105.39 | 110.50 |
| 9 | OHIO ST UNIV-A-TXBL | 4.80% | 06/01/11 | -4.57% | 138.84 | 145.49 |
| 10 | STOCKTON USD-TXB-C | 7.08% | 08/01/27 | -3.91% | 124.17 | 129.22 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 2/12/21 – 2/19/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -62 bps | 1.71% | 2.33% |
| 2 | OH | -40 bps | 1.52% | 1.92% |
| 3 | DC | -22 bps | 1.63% | 1.85% |
| 4 | SC | -13 bps | 1.32% | 1.45% |
| 5 | AZ | -11 bps | 1.43% | 1.54% |
| 6 | CT | -8 bps | 1.83% | 1.91% |
| 7 | LA | -8 bps | 1.86% | 1.94% |
| 8 | WI | -6 bps | 1.35% | 1.41% |
| 9 | ME | -6 bps | 0.91% | 0.97% |
| 10 | OR | -1 bps | 1.51% | 1.52% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 2/12/21 – 2/19/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NE | 72 bps | 1.69% | 0.97% |
| 2 | NH | 51 bps | 1.54% | 1.03% |
| 3 | FL | 42 bps | 1.49% | 1.06% |
| 4 | OK | 35 bps | 1.40% | 1.05% |
| 5 | AL | 32 bps | 1.71% | 1.39% |
| 6 | PA | 27 bps | 1.51% | 1.24% |
| 7 | MN | 25 bps | 1.64% | 1.38% |
| 8 | ID | 22 bps | 1.36% | 1.13% |
| 9 | VA | 22 bps | 1.33% | 1.12% |
| 10 | MO | 19 bps | 1.65% | 1.46% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/12/21 – 2/19/21 (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 2/12/21 – 2/19/21 (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 2/12/21 – 2/19/21 (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 2/12/21 – 2/19/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/12/21 vs. the week ending 2/19/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | WASHINGTON SUBURBAN | 5.00% | 06/01/30 | 17 | 74 | 57 | 335% |
| 2 | TOLEDO-WTR SYS REV | 5.00% | 11/15/31 | 1 | 48 | 47 | 4700% |
| 3 | NJ TRANS TR FD-A-BAM | 0.00% | 12/15/38 | 2 | 49 | 47 | 2350% |
| 4 | FLORENCE PUB FACS-A | 3.09% | 11/01/40 | 5 | 47 | 42 | 840% |
| 5 | TOLEDO-WTR SYS REV | 5.00% | 11/15/41 | 14 | 54 | 40 | 286% |
| 6 | TOLEDO-WTR SYS REV | 5.00% | 11/15/42 | 14 | 54 | 40 | 286% |
| 7 | NEW JERSEY ST TRANSPR | 5.00% | 06/15/32 | 7 | 46 | 39 | 557% |
| 8 | SAN ANTONIO-C-REV | 4.00% | 05/15/37 | 16 | 54 | 38 | 238% |
| 9 | GEORGIA ST-E-REF | 5.00% | 12/01/25 | 17 | 52 | 35 | 206% |
| 10 | NEW YORK ST URBAN DEV | 5.00% | 03/15/38 | 82 | 116 | 34 | 41% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/12/21 – 2/19/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 33 |
| 2 | NEW YORK ST DORM AUTH | 4.00% | 03/15/46 | 30 |
| 3 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 30 |
| 4 | NY ST URBAN DEV-E-2 | 4.00% | 03/15/38 | 29 |
| 5 | DASNY-A-REF-GROUP 2 | 4.00% | 03/15/37 | 28 |
| 6 | LIBERTY DEV GOLDMAN | 5.25% | 10/01/35 | 27 |
| 7 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 27 |
| 8 | WISCONSIN-REF-2 | 5.00% | 05/01/29 | 27 |
| 9 | NEW YORK ST URBAN DEV | 4.00% | 03/15/49 | 26 |
| 10 | NEW YORK ST URBAN DEV | 5.00% | 03/15/38 | 26 |
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