Municipal Bond Market Summary – Week Ending 3/5/21
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Municipal Bond Market Summary: Week Ending 3/5/21
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 2/26/21 – 3/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR-REF-PUB IMPT-A | 5.50% | 07/01/32 | 4.28% | 86.56 | 83.00 |
| 2 | BASSETT USD-CABS-C | 0.00% | 08/01/35 | 2.98% | 71.18 | 69.12 |
| 3 | MS ST-TAXABLE-D | 5.54% | 10/01/29 | 2.94% | 125.74 | 122.15 |
| 4 | IRWINDALE REDEV-TXB | 5.53% | 08/01/26 | 2.74% | 116.76 | 113.64 |
| 5 | LINDEN CMNTY SCHS-I | 3.00% | 05/01/46 | 2.71% | 106.54 | 103.73 |
| 6 | KIRKWOOD CMNTY CLG | 4.00% | 06/01/36 | 2.64% | 117.50 | 114.47 |
| 7 | NY ST URBAN DEV-E-2 | 4.00% | 03/15/36 | 2.12% | 118.29 | 115.84 |
| 8 | TOMPKINS CO | 1.25% | 02/01/36 | 2.11% | 95.26 | 93.29 |
| 9 | GREAT LAKES MI WTR AU | 3.47% | 07/01/41 | 2.10% | 108.15 | 105.92 |
| 10 | OREGON ST | 2.42% | 08/01/43 | 2.05% | 97.80 | 95.83 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 2/26/21 – 3/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MICHIGAN ST FIN AUTH | 3.08% | 12/01/34 | -5.98% | 105.00 | 111.68 |
| 2 | CA MUNI FIN AUTH-A | 4.00% | 11/01/44 | -5.96% | 109.68 | 116.64 |
| 3 | BERKS CO MUNI AUTH -B | 5.00% | 02/01/40 | -5.77% | 109.79 | 116.51 |
| 4 | CHAFFEY CA JT UN HSD | 0.00% | 08/01/37 | -5.50% | 64.12 | 67.86 |
| 5 | AMERN MUN PWR-B-BABS | 8.08% | 02/15/50 | -5.28% | 177.65 | 187.55 |
| 6 | NY ST URBAN DEV-E-2 | 4.00% | 03/15/35 | -5.11% | 117.31 | 123.63 |
| 7 | OXNARD SD-TXBL-REF | 2.76% | 08/01/44 | -4.98% | 98.46 | 103.62 |
| 8 | KANSAS ST DEV FIN AUT | 4.73% | 04/15/37 | -4.86% | 120.21 | 126.35 |
| 9 | OHIO ST -A -HOSP REV | 4.00% | 01/15/50 | -4.78% | 111.59 | 117.18 |
| 10 | TARRANT REGL WTR DT-B | 2.45% | 09/01/44 | -4.75% | 91.75 | 96.33 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 2/26/21 – 3/5/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DC | -57 bps | 1.80% | 2.37% |
| 2 | NE | -39 bps | 1.65% | 2.04% |
| 3 | OH | -22 bps | 1.80% | 2.02% |
| 4 | KS | -19 bps | 1.78% | 1.97% |
| 5 | SC | -18 bps | 1.45% | 1.63% |
| 6 | WV | -18 bps | 1.36% | 1.54% |
| 7 | NV | -16 bps | 1.74% | 1.90% |
| 8 | MI | -10 bps | 1.86% | 1.95% |
| 9 | IN | -8 bps | 1.73% | 1.81% |
| 10 | NC | -7 bps | 1.39% | 1.46% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 2/26/21 – 3/5/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MN | 26 bps | 2.11% | 1.84% |
| 2 | MA | 23 bps | 1.75% | 1.53% |
| 3 | CO | 22 bps | 1.85% | 1.63% |
| 4 | AL | 17 bps | 1.95% | 1.78% |
| 5 | AZ | 14 bps | 1.69% | 1.55% |
| 6 | MO | 13 bps | 1.85% | 1.73% |
| 7 | CT | 13 bps | 2.09% | 1.97% |
| 8 | FL | 12 bps | 1.72% | 1.60% |
| 9 | NH | 12 bps | 1.81% | 1.69% |
| 10 | CA | 9 bps | 2.01% | 1.92% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/26/21 – 3/5/21 (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 2/26/21 – 3/5/21 (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 2/26/21 – 3/5/21 (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 2/26/21 – 3/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/26/21 vs. the week ending 3/5/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MULTNOMAH CNTY OR SD | 3.00% | 06/15/35 | 18 | 62 | 44 | 244% |
| 2 | MICHIGAN ST FIN AUTH | 3.00% | 10/01/39 | 23 | 63 | 40 | 174% |
| 3 | TEXAS ST WTR DEV BRD | 4.00% | 10/15/54 | 54 | 94 | 40 | 74% |
| 4 | CALIFORNIA ST | 5.00% | 11/01/28 | 96 | 135 | 39 | 41% |
| 5 | EAST BAY CA MUNI UTIL | 4.00% | 06/01/25 | 10 | 48 | 38 | 380% |
| 6 | LOS ANGELES CO MTA -A | 5.00% | 06/01/34 | 11 | 49 | 38 | 345% |
| 7 | MICHIGAN ST FIN AUTH | 3.00% | 10/01/38 | 13 | 51 | 38 | 292% |
| 8 | CA HLTH FACS-A2 | 5.00% | 11/01/47 | 58 | 95 | 37 | 64% |
| 9 | OR FACS AUTH-A-REF | 3.51% | 07/01/41 | 27 | 64 | 37 | 137% |
| 10 | SAN FRANCISCO CA BAY | 3.00% | 08/01/37 | 21 | 57 | 36 | 171% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/26/21 – 3/5/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NYC TRANS FIN-E-1 | 3.00% | 02/01/51 | 31 |
| 2 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 31 |
| 3 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 30 |
| 4 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 29 |
| 5 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 29 |
| 6 | CALIFORNIA ST | 5.00% | 11/01/28 | 27 |
| 7 | NEW YORK ST URBAN DEV | 5.00% | 03/15/38 | 27 |
| 8 | DASNY-A-REF-GROUP 2 | 4.00% | 03/15/37 | 27 |
| 9 | NEW JERSEY ST TURNPIK | 4.00% | 01/01/42 | 26 |
| 10 | NEW JERSEY ST-A | 5.00% | 06/01/29 | 26 |
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