Municipal Bond Market Summary – Week Ending 2/5/21
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Municipal Bond Market Summary: Week Ending 2/5/21
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 1/29/21 – 2/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UNIV TX | 5.26% | 07/01/39 | 5.39% | 150.71 | 143.01 |
| 2 | PR-REF-A | 5.50% | 07/01/26 | 4.93% | 78.70 | 75.00 |
| 3 | AR DEV FIN AUTH | 3.20% | 12/01/49 | 4.03% | 108.04 | 103.86 |
| 4 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/25 | 3.99% | 118.57 | 114.02 |
| 5 | FRESNO USD-REF-A | 6.00% | 08/01/26 | 3.60% | 124.18 | 119.86 |
| 6 | W COVINA PUB FING AUT | 3.74% | 08/01/38 | 3.59% | 105.88 | 102.21 |
| 7 | ALVORD USD-B-CABS | 0.00% | 08/01/36 | 3.50% | 69.84 | 67.48 |
| 8 | PR ELEC PWR-CCC | 4.75% | 07/01/26 | 3.47% | 83.81 | 81.00 |
| 9 | PALM BEACH CNTY FL-B | 4.00% | 05/15/53 | 3.46% | 108.95 | 105.31 |
| 10 | S JERSEY PORT CORP-P3 | 7.37% | 01/01/40 | 3.09% | 133.11 | 129.12 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 1/29/21 – 2/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UNIV OF VA-C-TXBL | 4.18% | 09/01/17 | -4.67% | 129.00 | 135.32 |
| 2 | UNIV OF CALIFORNIA-BF | 2.65% | 05/15/50 | -3.72% | 95.64 | 99.33 |
| 3 | GAINESVILLE HOSP-A | 4.00% | 02/15/42 | -3.19% | 112.39 | 116.10 |
| 4 | NYC SER H-1-BABS | 5.85% | 06/01/40 | -2.91% | 147.87 | 152.31 |
| 5 | MISSOURI HLTH & EDU-A | 3.23% | 05/15/50 | -2.70% | 113.97 | 117.13 |
| 6 | MA COMMONWEALTH | 2.90% | 09/01/49 | -2.58% | 107.42 | 110.26 |
| 7 | RD 17 LEVEE AREA | 5.00% | 09/01/29 | -2.51% | 115.72 | 118.70 |
| 8 | NY DORM AUTH-A | 5.00% | 08/01/27 | -2.34% | 120.10 | 122.98 |
| 9 | EL MONTE WTR AUTH-A | 5.00% | 09/01/34 | -2.31% | 124.13 | 127.07 |
| 10 | LOS ANGELES CMNTY CL | 6.75% | 08/01/49 | -2.02% | 175.99 | 179.61 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 1/29/21 – 2/5/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | PA | -31 bps | 1.22% | 1.53% |
| 2 | WI | -31 bps | 1.00% | 1.31% |
| 3 | AL | -26 bps | 1.17% | 1.42% |
| 4 | NV | -25 bps | 1.40% | 1.66% |
| 5 | KS | -23 bps | 1.72% | 1.95% |
| 6 | HI | -19 bps | 1.63% | 1.81% |
| 7 | MN | -18 bps | 1.37% | 1.55% |
| 8 | MD | -18 bps | 1.20% | 1.38% |
| 9 | NH | -18 bps | 1.29% | 1.46% |
| 10 | IN | -15 bps | 1.38% | 1.53% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 1/29/21 – 2/5/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | OH | 22 bps | 1.94% | 1.72% |
| 2 | AR | 22 bps | 1.65% | 1.43% |
| 3 | LA | 15 bps | 1.78% | 1.63% |
| 4 | MA | 11 bps | 1.57% | 1.46% |
| 5 | NC | 11 bps | 0.95% | 0.84% |
| 6 | ND | 7 bps | 1.34% | 1.27% |
| 7 | FL | 5 bps | 1.12% | 1.07% |
| 8 | CT | 5 bps | 1.98% | 1.93% |
| 9 | WA | 4 bps | 1.59% | 1.55% |
| 10 | IA | 4 bps | 1.43% | 1.39% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 1/29/21 – 2/5/21 (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 1/29/21 – 2/5/21 (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 1/29/21 – 2/5/21 (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 1/29/21 – 2/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 1/29/21 vs. the week ending 2/5/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MICHIGAN ST -B -REV | 4.00% | 11/15/45 | 17 | 83 | 66 | 388% |
| 2 | LOWER MERION SCH DT | 4.00% | 11/15/31 | 10 | 71 | 61 | 610% |
| 3 | MASSACHUSETTS ST | 3.00% | 07/01/48 | 18 | 71 | 53 | 294% |
| 4 | DASNY-A-REF-GROUP 3 | 3.00% | 03/15/38 | 8 | 53 | 45 | 563% |
| 5 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 73 | 118 | 45 | 62% |
| 6 | NEW YORK ST URBAN DEV | 4.00% | 03/15/49 | 78 | 118 | 40 | 51% |
| 7 | MICHIGAN ST UNIV-B | 5.00% | 02/15/48 | 15 | 55 | 40 | 267% |
| 8 | NORTH CAROLINA ST | 5.00% | 03/01/31 | 22 | 62 | 40 | 182% |
| 9 | NY ST URBAN DEV-E-2 | 4.00% | 03/15/38 | 91 | 130 | 39 | 43% |
| 10 | CHICAGO IL TRANSIT AU | 5.00% | 12/01/55 | 7 | 45 | 38 | 543% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 1/29/21 – 2/5/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MIAMI-DADE CO WTR&SWR | 4.00% | 10/01/49 | 37 |
| 2 | UNIV OF TEXAS UNIV-A | 5.00% | 08/15/30 | 31 |
| 3 | PENNSYLVANIA ST TURNP | 4.00% | 12/01/50 | 30 |
| 4 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 30 |
| 5 | DASNY-A-REF-GROUP 2 | 4.00% | 03/15/37 | 30 |
| 6 | NEW YORK ST DORM AUTH | 4.00% | 03/15/46 | 29 |
| 7 | NY ST URBAN DEV-E-2 | 4.00% | 03/15/38 | 29 |
| 8 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 28 |
| 9 | WISCONSIN-REF-2 | 5.00% | 05/01/29 | 26 |
| 10 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 26 |
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