Municipal Bond Market Summary – Week Ending 5/15/20
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Municipal Bond Market Summary: Week Ending 5/15/20
Our weekly 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 5/8/20 – 5/15/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ESCONDIDO UHSD CAB | 0.00% | 08/01/37 | 8.47% | 63.80 | 58.82 |
| 2 | SAN JOAQUIN JR LIEN | 0.00% | 01/01/28 | 8.35% | 90.00 | 83.06 |
| 3 | PHILADELPHIA-REF | 5.00% | 08/01/27 | 7.68% | 124.63 | 115.74 |
| 4 | POWAY USD-CABS-IMPT | 0.00% | 08/01/33 | 6.68% | 72.91 | 68.34 |
| 5 | NORWALK SD-CABS-D | 0.00% | 08/01/31 | 6.48% | 79.49 | 74.66 |
| 6 | KING CO SCH DIST #405 | 3.00% | 12/01/32 | 6.36% | 106.36 | 100.00 |
| 7 | GUAM GOVT BUS-A | 5.00% | 01/01/31 | 6.02% | 100.55 | 94.84 |
| 8 | OMAHA DOUGLAS PUB BLD | 3.00% | 05/01/39 | 5.90% | 106.07 | 100.16 |
| 9 | POWAY USD-CABS-IMPT | 0.00% | 08/01/34 | 5.90% | 70.64 | 66.70 |
| 10 | LOS ANGELES -SER A | 5.00% | 07/01/32 | 5.49% | 125.82 | 119.27 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 5/8/20 – 5/15/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR BLDGS UNREF-D | 5.13% | 07/01/24 | -16.77% | 64.50 | 77.50 |
| 2 | ORANGE TOURIST TAX | 5.00% | 10/01/23 | -6.61% | 105.51 | 112.98 |
| 3 | OKLAHOMA CAPITOL IMP | 3.00% | 07/01/34 | -6.46% | 104.39 | 111.61 |
| 4 | NV SYS HGR EDU-COPS | 3.00% | 07/01/30 | -6.38% | 102.72 | 109.72 |
| 5 | JEFFERSON UN HSD | 4.00% | 08/01/26 | -6.07% | 115.41 | 122.88 |
| 6 | BIRMINGHAM CIVIC CTR | 4.00% | 07/01/43 | -6.01% | 98.16 | 104.43 |
| 7 | NORMAN REGL HOSP-REF | 5.00% | 09/01/37 | -5.99% | 106.26 | 113.02 |
| 8 | LOS ANGELES CNTY CA M | 5.00% | 07/01/25 | -5.73% | 115.36 | 122.36 |
| 9 | NY ST DORM AUTH-REF | 5.00% | 07/01/26 | -5.71% | 115.90 | 122.92 |
| 10 | CMC ACADEMIC CO CLG | 5.00% | 08/01/29 | -5.61% | 118.13 | 125.15 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 5/8/20 – 5/15/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | HI | -63 bps | 1.75% | 2.37% |
| 2 | MO | -61 bps | 1.68% | 2.29% |
| 3 | MI | -50 bps | 2.13% | 2.64% |
| 4 | IL | -38 bps | 3.29% | 3.67% |
| 5 | NY | -36 bps | 2.16% | 2.52% |
| 6 | ME | -34 bps | 1.38% | 1.72% |
| 7 | NJ | -28 bps | 1.99% | 2.27% |
| 8 | CO | -28 bps | 1.58% | 1.86% |
| 9 | LA | -28 bps | 1.84% | 2.11% |
| 10 | NV | -28 bps | 2.26% | 2.54% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 5/8/20 – 5/15/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | SC | 6 bps | 1.82% | 1.75% |
| 2 | TX | 6 bps | 2.09% | 2.04% |
| 3 | IA | 4 bps | 1.76% | 1.72% |
| 4 | OR | 4 bps | 2.08% | 2.04% |
| 5 | NM | 2 bps | 1.89% | 1.87% |
| 6 | OK | 0 bps | 2.24% | 2.25% |
| 7 | DC | -1 bps | 1.81% | 1.82% |
| 8 | MS | -1 bps | 2.02% | 2.03% |
| 9 | VA | -1 bps | 1.71% | 1.73% |
| 10 | MN | -1 bps | 1.88% | 1.89% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 5/8/20 – 5/15/20 (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 5/8/20 – 5/15/20 (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
Displays the average Muni 10 year yield by state between 5/8/20 – 5/15/20 (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 5/8/20 – 5/15/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 5/8/20 vs. the week ending 5/15/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | HOUSTON TX | 5.00% | 03/01/29 | 17 | 86 | 69 | 406% |
| 2 | SAN YSIDRO SD-CABS | 0.00% | 08/01/45 | 4 | 61 | 57 | 1425% |
| 3 | CLEVELAND ISD | 4.00% | 02/15/52 | 1 | 51 | 50 | 5000% |
| 4 | MN ST-A | 5.00% | 08/01/22 | 12 | 60 | 48 | 400% |
| 5 | NJ ST TRANSN TR FD | 0.00% | 12/15/32 | 11 | 58 | 47 | 427% |
| 6 | RI HLTH & EDUCTNL-REF | 5.00% | 05/15/24 | 5 | 52 | 47 | 940% |
| 7 | SEATTLE DRAIN WSTWTR | 4.00% | 04/01/38 | 7 | 54 | 47 | 671% |
| 8 | MONTGOMERY CNTY PA HG | 4.00% | 09/01/37 | 11 | 52 | 41 | 373% |
| 9 | MONTGOMERY CO HGR EDU | 4.00% | 09/01/36 | 6 | 47 | 41 | 683% |
| 10 | FORT WORTH TX INDEP-B | 5.00% | 02/15/27 | 15 | 56 | 41 | 273% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 5/8/20 – 5/15/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | COLUMBUS OH | 5.00% | 04/01/33 | 31 |
| 2 | CALIFORNIA ST | 3.00% | 03/01/46 | 30 |
| 3 | LOS ANGELES CA DEPT O | 5.00% | 07/01/28 | 30 |
| 4 | CALIFORNIA ST | 4.00% | 03/01/40 | 29 |
| 5 | CALIFORNIA ST | 5.00% | 03/01/33 | 29 |
| 6 | MULTNOMAH CO SD #1J | 5.00% | 06/15/29 | 29 |
| 7 | TAMPA ETC EXWY-B-REF | 4.00% | 07/01/42 | 28 |
| 8 | HAWAII ST | 5.00% | 10/01/29 | 28 |
| 9 | CALIFORNIA ST | 3.00% | 03/01/50 | 27 |
| 10 | CALIFORNIA ST | 4.00% | 03/01/38 | 27 |
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