Municipal Bond Market Summary – Week Ending 4/9/21
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Municipal Bond Market Summary: Week Ending 4/9/21
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 4/1/21 – 4/9/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MASSACHUSETTS ST HSG | 3.07% | 12/01/40 | 9.59% | 102.53 | 93.56 |
| 2 | SAN JOSE-C-REF-REV | 3.27% | 03/01/40 | 7.86% | 100.65 | 93.31 |
| 3 | N CENT TX HLTH-A-PRES | 5.75% | 06/01/26 | 7.38% | 121.26 | 112.92 |
| 4 | WEYMOUTH TOWN | 2.00% | 08/15/43 | 2.91% | 96.33 | 93.60 |
| 5 | HOLLAND ELEC-A | 4.00% | 07/01/34 | 2.82% | 103.91 | 101.06 |
| 6 | IRVINE UNIF SCH DIST | 2.25% | 09/01/50 | 2.54% | 98.80 | 96.35 |
| 7 | LOS ANGELES USD-A | 5.00% | 07/01/32 | 2.50% | 104.02 | 101.49 |
| 8 | WI HLTH & EDU FACS-A | 4.50% | 11/15/43 | 2.22% | 110.72 | 108.32 |
| 9 | BEXAR CNTY TX HOSP DT | 5.00% | 02/15/31 | 2.16% | 128.93 | 126.20 |
| 10 | PALO ALTO -COPS | 2.25% | 11/01/50 | 2.08% | 97.60 | 95.61 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 4/1/21 – 4/9/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | NEW HOPE CULT EDU-A1 | 4.25% | 07/01/37 | -11.10% | 82.19 | 92.46 |
| 2 | BELLWOOD VLG-REF-TXBL | 3.27% | 12/01/39 | -3.38% | 97.33 | 100.74 |
| 3 | HOMEWOOD | 2.75% | 09/01/46 | -2.67% | 95.23 | 97.84 |
| 4 | KY ASSOC OF CNTYS -D | 2.65% | 02/01/31 | -2.23% | 102.22 | 104.55 |
| 5 | KENTON ARPT BRD-TXBL | 4.33% | 01/01/34 | -1.71% | 109.51 | 111.41 |
| 6 | BELL GARDENS DEV-C | 4.38% | 08/01/24 | -1.46% | 109.37 | 110.99 |
| 7 | SMYTH CNTY -REF | 3.00% | 11/01/31 | -1.19% | 111.35 | 112.69 |
| 8 | PACIFICA CA PENSN OBL | 2.96% | 06/01/29 | -1.15% | 106.73 | 107.97 |
| 9 | SAN FRANCISCO MUNI TR | 2.21% | 03/01/35 | -1.11% | 95.60 | 96.68 |
| 10 | AKRON INCOME TAX | 3.50% | 12/01/29 | -0.96% | 102.95 | 103.94 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 4/1/21 – 4/9/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MN | -40 bps | 1.73% | 2.13% |
| 2 | FL | -34 bps | 1.89% | 2.23% |
| 3 | IA | -25 bps | 1.55% | 1.81% |
| 4 | TN | -20 bps | 1.51% | 1.71% |
| 5 | MI | -16 bps | 1.83% | 2.00% |
| 6 | AZ | -16 bps | 1.50% | 1.66% |
| 7 | OH | -13 bps | 1.67% | 1.80% |
| 8 | MT | -13 bps | 1.36% | 1.49% |
| 9 | IL | -10 bps | 2.40% | 2.50% |
| 10 | MD | -8 bps | 1.21% | 1.29% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 4/1/21 – 4/9/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | NV | 49 bps | 1.96% | 1.47% |
| 2 | AL | 45 bps | 1.63% | 1.18% |
| 3 | HI | 28 bps | 2.25% | 1.97% |
| 4 | GA | 24 bps | 1.48% | 1.24% |
| 5 | MO | 20 bps | 1.88% | 1.67% |
| 6 | MS | 17 bps | 1.73% | 1.55% |
| 7 | NY | 17 bps | 1.74% | 1.57% |
| 8 | LA | 16 bps | 2.04% | 1.88% |
| 9 | PA | 14 bps | 1.89% | 1.75% |
| 10 | UT | 13 bps | 1.61% | 1.48% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 4/1/21 – 4/9/21 (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 4/1/21 – 4/9/21 (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 4/1/21 – 4/9/21 (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 4/1/21 – 4/9/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 4/1/21 vs. the week ending 4/9/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SAN ANTONIO-A-REV | 5.00% | 02/01/32 | 5 | 51 | 46 | 920% |
| 2 | SAN ANTONIO-A-REV | 5.00% | 02/01/31 | 4 | 49 | 45 | 1125% |
| 3 | DASNY -A-REF | 4.00% | 03/15/41 | 34 | 78 | 44 | 129% |
| 4 | ILLINOIS ST-A | 5.00% | 03/01/34 | 42 | 83 | 41 | 98% |
| 5 | SAN ANTONIO-A-REV | 5.00% | 02/01/34 | 5 | 45 | 40 | 800% |
| 6 | SAN ANTONIO-A-REV | 5.00% | 02/01/36 | 5 | 45 | 40 | 800% |
| 7 | WASHINGTON MET AREA-A | 4.00% | 07/15/45 | 20 | 60 | 40 | 200% |
| 8 | SAN ANTONIO-A-REV | 5.00% | 02/01/33 | 5 | 45 | 40 | 800% |
| 9 | SAN ANTONIO-A-REV | 5.00% | 02/01/35 | 5 | 45 | 40 | 800% |
| 10 | CALIFORNIA ST | 2.50% | 12/01/49 | 88 | 125 | 37 | 42% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 4/1/21 – 4/9/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES DEPT OF | 5.00% | 05/15/46 | 38 |
| 2 | NEW YORK NY | 4.00% | 03/01/47 | 34 |
| 3 | NEW YORK NY | 5.00% | 03/01/50 | 33 |
| 4 | NEW YORK NY | 4.00% | 03/01/38 | 27 |
| 5 | CALIFORNIA ST | 2.50% | 12/01/49 | 27 |
| 6 | OHIO ST WTR DEV AUTH | 5.00% | 06/01/33 | 27 |
| 7 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 27 |
| 8 | LOS ANGELES DEPT-B | 5.00% | 07/01/40 | 26 |
| 9 | NEW YORK NY | 5.00% | 03/01/42 | 26 |
| 10 | CALIFORNIA ST | 5.00% | 12/01/27 | 26 |
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