Municipal Bond Market Summary – Week Ending 3/12/21
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Municipal Bond Market Summary: Week Ending 3/12/21
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 3/5/21 – 3/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR PUB BLDGS AUTH | 5.50% | 07/01/24 | 7.31% | 95.56 | 89.05 |
| 2 | HUNTINGTON LOC DEV | 5.25% | 07/01/56 | 5.52% | 103.43 | 98.02 |
| 3 | GATEWAY USD 2002-B | 0.00% | 08/01/34 | 3.82% | 75.38 | 72.61 |
| 4 | GAHANNA-JEFFERSON SD | 2.13% | 12/01/44 | 3.64% | 96.30 | 92.92 |
| 5 | SOUTHAMPTON CO INDL | 2.00% | 12/01/47 | 3.39% | 94.11 | 91.02 |
| 6 | BETHEL SD #52-A-CABS | 0.00% | 06/15/45 | 2.94% | 53.80 | 52.26 |
| 7 | TACOMA ELEC SYS REV | 4.00% | 01/01/47 | 2.93% | 114.66 | 111.39 |
| 8 | LAMONT SD CAB-B | 0.00% | 11/01/31 | 2.82% | 80.52 | 78.31 |
| 9 | OHIO ST | 4.00% | 05/01/41 | 2.55% | 122.89 | 119.84 |
| 10 | RUTHERFORD BORO | 0.05% | 11/01/42 | 2.53% | 60.04 | 58.56 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 3/5/21 – 3/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CHICAGO BOE-QSCB | 6.32% | 11/01/29 | -5.52% | 118.20 | 125.11 |
| 2 | NYC SER G-1 | 5.97% | 03/01/36 | -4.23% | 136.09 | 142.11 |
| 3 | SALEM ETC SD #24J-A | 0.00% | 06/15/40 | -4.12% | 62.76 | 65.45 |
| 4 | OK CAPITOL IMPT AUTH | 3.08% | 07/01/40 | -3.86% | 100.42 | 104.46 |
| 5 | SAN DIEGO PUB FACS-A | 3.00% | 08/01/49 | -3.70% | 107.09 | 111.21 |
| 6 | WESTLAND -TXBL | 2.78% | 11/01/46 | -3.53% | 96.26 | 99.79 |
| 7 | FOOTHILL ESTRN TRANSP | 2.69% | 01/15/36 | -3.42% | 97.11 | 100.55 |
| 8 | UNIV OF CA-J-REF-TXBL | 4.13% | 05/15/45 | -3.31% | 113.86 | 117.75 |
| 9 | NEW YORK ST ENVRNMNTL | 5.00% | 06/15/27 | -3.15% | 122.82 | 126.81 |
| 10 | NYC TRANS FIN AUTH | 4.00% | 05/01/43 | -3.02% | 112.86 | 116.38 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 3/5/21 – 3/12/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MD | -28 bps | 1.21% | 1.50% |
| 2 | CO | -27 bps | 1.55% | 1.82% |
| 3 | NH | -25 bps | 1.55% | 1.81% |
| 4 | GA | -25 bps | 1.42% | 1.67% |
| 5 | NC | -24 bps | 1.22% | 1.45% |
| 6 | AZ | -21 bps | 1.47% | 1.69% |
| 7 | NM | -20 bps | 1.24% | 1.44% |
| 8 | UT | -20 bps | 1.08% | 1.28% |
| 9 | MI | -18 bps | 1.68% | 1.86% |
| 10 | LA | -17 bps | 1.55% | 1.72% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 3/5/21 – 3/12/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MS | 28 bps | 1.78% | 1.51% |
| 2 | IN | 22 bps | 1.95% | 1.72% |
| 3 | KS | 20 bps | 1.99% | 1.79% |
| 4 | IA | 12 bps | 1.82% | 1.70% |
| 5 | WV | 11 bps | 1.47% | 1.36% |
| 6 | DC | 7 bps | 1.82% | 1.75% |
| 7 | CT | 6 bps | 2.15% | 2.09% |
| 8 | FL | 4 bps | 1.71% | 1.67% |
| 9 | DE | 3 bps | 1.30% | 1.27% |
| 10 | NE | 2 bps | 1.67% | 1.65% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 3/5/21 – 3/12/21 (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 3/5/21 – 3/12/21 (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 3/5/21 – 3/12/21 (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 3/5/21 – 3/12/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 3/5/21 vs. the week ending 3/12/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | NEW YORK CITY NY MUNI | 5.00% | 06/15/50 | 23 | 100 | 77 | 335% |
| 2 | NEW YORK CITY NY HSG | 2.35% | 11/01/40 | 5 | 66 | 61 | 1220% |
| 3 | ILLINOIS ST-D | 5.00% | 11/01/24 | 18 | 67 | 49 | 272% |
| 4 | CONNECTICUT ST-A | 4.00% | 04/15/38 | 15 | 57 | 42 | 280% |
| 5 | NEW YORK ST URBAN DEV | 5.00% | 03/15/44 | 80 | 120 | 40 | 50% |
| 6 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 115 | 154 | 39 | 34% |
| 7 | NEW YORK ST DORM AUTH | 4.00% | 07/01/50 | 8 | 45 | 37 | 463% |
| 8 | NY DORM AUTH-E | 5.00% | 03/15/38 | 10 | 47 | 37 | 370% |
| 9 | SAN DIEGO UNIF SD -M2 | 4.00% | 07/01/50 | 50 | 87 | 37 | 74% |
| 10 | PERALTA CMNTY CLG DT | 3.00% | 02/01/50 | 8 | 45 | 37 | 463% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 3/5/21 – 3/12/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 34 |
| 2 | NYC TRANS FIN-E-1 | 3.00% | 02/01/51 | 31 |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 30 |
| 4 | NEW YORK ST URBAN DEV | 5.00% | 03/15/38 | 28 |
| 5 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 27 |
| 6 | NEW JERSEY ST-A | 5.00% | 06/01/29 | 27 |
| 7 | NEW JERSEY ST-A | 4.00% | 06/01/30 | 26 |
| 8 | PORT AUTH OF NEW YORK | 4.00% | 07/15/51 | 26 |
| 9 | NEW JERSEY ST-A | 4.00% | 06/01/32 | 25 |
| 10 | CALIFORNIA ST | 5.00% | 11/01/28 | 25 |
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