Municipal Bond Market Summary – Week Ending 6/11/21
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Municipal Bond Market Summary: Week Ending 6/11/21
PUERTO RICO PUB BLDGS AUTH REV 5.00% 07/01/22 took the second spot on the Municipal Bond ‘Winners’ list last week as bond trading surged more than 25x the average.. MASSACHUSETTS ST DEV FIN AGY 5.00% 07/15/34 made headlines regarding the Supreme Courts input in a change in Harvard admission policies. The issuer experienced a -0.90% change in price last week ($121.14) compared to the week prior ($122.24)..
Top 10 Winners
Showcases the top 10 Muni Bond “Winners” based on price movements between 6/4/21 – 6/11/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | LAKESIDE AR SD #9-REF | 1.90% | 04/01/39 | 4.91% | 94.79 | 90.35 |
| 2 | PR PUB BLDG-U-REF | 5.00% | 07/01/22 | 4.90% | 93.50 | 89.13 |
| 3 | UNIV OF CALIFORNIA CA | 3.71% | 05/15/20 | 4.36% | 106.64 | 102.19 |
| 4 | DC WTR & SWR-A-TXBL | 4.81% | 10/01/14 | 3.85% | 141.49 | 136.25 |
| 5 | WILLOUGHBY EASTLAKE | 0.00% | 12/01/42 | 3.62% | 52.19 | 50.37 |
| 6 | UNIV TX | 5.26% | 07/01/39 | 3.61% | 139.59 | 134.72 |
| 7 | UNIV OF CALIFORNIA-AQ | 4.77% | 05/15/15 | 3.51% | 138.08 | 133.40 |
| 8 | TX ST PRIV ACTIVITY-B | 3.92% | 12/31/49 | 3.50% | 111.27 | 107.51 |
| 9 | CA ST UNIV-E | 2.90% | 11/01/51 | 3.34% | 100.41 | 97.16 |
| 10 | LOUISIANA ST LOCAL GO | 2.64% | 02/01/48 | 3.18% | 95.48 | 92.53 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 6/4/21 – 6/11/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SANTA MONICA-MALIBU | 2.21% | 07/01/38 | -5.81% | 91.47 | 97.11 |
| 2 | CLEVELAND ST UNIV | 5.00% | 06/01/37 | -2.25% | 102.50 | 104.86 |
| 3 | MESA AZ UTILITY SYS R | 5.00% | 07/01/29 | -1.73% | 132.22 | 134.54 |
| 4 | WI CTR DIST TAX CAB-A | 0.00% | 12/15/27 | -1.63% | 93.85 | 95.41 |
| 5 | PROVIDENCE CITY UT FR | 2.25% | 03/01/48 | -1.46% | 93.75 | 95.14 |
| 6 | FORT BEND CO MUD #134 | 2.00% | 09/01/37 | -1.24% | 100.00 | 101.25 |
| 7 | W VLY-MISSION CLG | 5.00% | 08/01/27 | -0.92% | 118.91 | 120.02 |
| 8 | LAKOTA LOC SD-REF-A | 5.25% | 12/01/23 | -0.92% | 111.63 | 112.67 |
| 9 | MA DEV FIN AGY-A | 5.00% | 07/15/34 | -0.90% | 121.14 | 122.24 |
| 10 | TRI-CNTY TRN-BABS-B | 5.73% | 09/01/33 | -0.90% | 132.05 | 133.24 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 6/4/21 – 6/11/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | KS | -41 bps | 2.45% | 2.86% |
| 2 | NC | -22 bps | 1.10% | 1.32% |
| 3 | DE | -19 bps | 1.09% | 1.28% |
| 4 | MI | -18 bps | 1.87% | 2.05% |
| 5 | AL | -17 bps | 1.63% | 1.80% |
| 6 | NJ | -15 bps | 1.99% | 2.14% |
| 7 | OR | -13 bps | 1.58% | 1.71% |
| 8 | LA | -12 bps | 1.69% | 1.81% |
| 9 | NV | -12 bps | 1.84% | 1.96% |
| 10 | CA | -11 bps | 1.85% | 1.96% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 6/4/21 – 6/11/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | WI | 35 bps | 2.22% | 1.88% |
| 2 | GA | 29 bps | 1.78% | 1.49% |
| 3 | HI | 28 bps | 2.37% | 2.10% |
| 4 | MD | 27 bps | 1.51% | 1.24% |
| 5 | VA | 24 bps | 1.32% | 1.08% |
| 6 | MN | 23 bps | 1.74% | 1.51% |
| 7 | PA | 22 bps | 2.10% | 1.89% |
| 8 | OH | 15 bps | 1.58% | 1.42% |
| 9 | MA | 14 bps | 1.73% | 1.59% |
| 10 | SC | 12 bps | 1.88% | 1.76% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 6/4/21 – 6/11/21 (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 6/4/21 – 6/11/21 (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 6/4/21 – 6/11/21 (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 6/4/21 – 6/11/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 6/4/21 vs. the week ending 6/11/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SAN ANTONIO TX WTR RE | 4.00% | 05/15/38 | 3 | 53 | 50 | 1667% |
| 2 | CHICAGO IL | 5.63% | 01/01/30 | 5 | 55 | 50 | 1000% |
| 3 | ARLINGTON ISD -REF | 4.00% | 02/15/45 | 18 | 63 | 45 | 250% |
| 4 | CALIFORNIA ST MUNI FI | 4.00% | 05/15/46 | 10 | 55 | 45 | 450% |
| 5 | TEXAS ST WTR DEV BRD | 3.00% | 10/15/38 | 22 | 60 | 38 | 173% |
| 6 | MO HLTH & EDU FACS | 4.00% | 07/01/46 | 12 | 49 | 37 | 308% |
| 7 | MET TRANSPRTN AUTH -C | 4.00% | 11/15/45 | 9 | 46 | 37 | 411% |
| 8 | LOS ANGELES USD-A | 5.00% | 07/01/30 | 10 | 45 | 35 | 350% |
| 9 | NJ TRANSPRTN TRUST-A | 5.00% | 06/15/31 | 70 | 104 | 34 | 49% |
| 10 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 67 | 101 | 34 | 51% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 6/4/21 – 6/11/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LAMAR CONSOL ISD | 3.00% | 02/15/51 | 30 |
| 2 | DASNY -A-REF | 4.00% | 03/15/41 | 30 |
| 3 | PR SALES TAX FING-A1 | 0.00% | 07/01/51 | 29 |
| 4 | NEW YORK NY | 4.00% | 03/01/38 | 26 |
| 5 | ALAMO CMNTY CLG DIST | 4.00% | 08/15/39 | 25 |
| 6 | HOUSTON-A-REV-REF | 4.00% | 11/15/51 | 25 |
| 7 | DASNY-A | 4.00% | 07/01/48 | 24 |
| 8 | NEW YORK ST URBAN DEV | 5.00% | 03/15/33 | 24 |
| 9 | TRIBOROUGH BRIDGE-A-1 | 5.00% | 05/15/51 | 24 |
| 10 | LOS ANGELES CA DEPT OF ARPTS A | 5.00% | 05/15/46 | 23 |
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