Municipal Bond Market Summary – Week Ending 6/26/20
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Municipal Bond Market Summary: Week Ending 6/26/20
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 6/19/20 – 6/26/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CA ED FACS-A | 0.00% | 10/01/34 | 10.60% | 73.57 | 66.51 |
| 2 | LAS VEGAS CONVENTION | 5.00% | 07/01/35 | 8.56% | 118.96 | 109.58 |
| 3 | EVANSVILLE BLDG-CABS | 0.00% | 07/15/30 | 5.70% | 83.89 | 79.37 |
| 4 | IL FIN AUTH-A-REF | 5.00% | 07/15/29 | 5.01% | 127.84 | 121.74 |
| 5 | COOK REGL TRANS AUTH | 4.00% | 06/01/46 | 4.53% | 108.80 | 104.08 |
| 6 | PENNSYLVANIA ST UNIV | 1.78% | 09/01/25 | 4.53% | 103.38 | 98.90 |
| 7 | CT HLTH & ED FACS-A1 | 5.00% | 10/01/54 | 4.13% | 100.00 | 96.04 |
| 8 | SAN JOSE ARPT-C-REF | 5.00% | 03/01/31 | 3.82% | 113.31 | 109.15 |
| 9 | PUB FIN AUTH-A | 4.63% | 06/01/36 | 3.65% | 102.64 | 99.03 |
| 10 | METRO TRANSP AUTH-A2 | 5.00% | 11/15/21 | 3.38% | 104.69 | 101.26 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 6/19/20 – 6/26/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MASSACHUSETTS DEV FIN | 5.00% | 10/01/48 | -3.94% | 98.50 | 102.54 |
| 2 | CLG SEQUOIAS 2-B-CABS | 0.00% | 08/01/37 | -2.92% | 69.09 | 71.18 |
| 3 | OH TPK COMMN-CABS-A2 | 0.00% | 02/15/36 | -2.55% | 68.45 | 70.25 |
| 4 | BOONE CNTY KY SCH DIS | 3.50% | 08/01/35 | -2.08% | 106.74 | 109.01 |
| 5 | CONNEAUT SD -B CABS | 0.00% | 11/01/33 | -1.86% | 78.16 | 79.64 |
| 6 | CARTERET REDEV-C-TXBL | 4.85% | 12/01/40 | -1.82% | 104.84 | 106.79 |
| 7 | ST LOUIS-REF | 5.00% | 02/15/28 | -1.59% | 117.73 | 119.63 |
| 8 | BEXAR CNTY TX REV-REF | 5.00% | 08/15/27 | -1.44% | 123.52 | 125.32 |
| 9 | CA SCH FIN AUTH-A | 4.13% | 07/01/35 | -1.41% | 102.21 | 103.68 |
| 10 | ARIZONA HLTH-A | 3.75% | 01/01/39 | -1.35% | 102.84 | 104.25 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 6/19/20 – 6/26/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | AL | -47 bps | 1.50% | 1.96% |
| 2 | CT | -18 bps | 1.87% | 2.05% |
| 3 | NV | -16 bps | 1.93% | 2.10% |
| 4 | SC | -16 bps | 1.50% | 1.66% |
| 5 | PA | -16 bps | 1.86% | 2.02% |
| 6 | UT | -15 bps | 1.19% | 1.34% |
| 7 | LA | -13 bps | 1.59% | 1.72% |
| 8 | ID | -12 bps | 1.23% | 1.36% |
| 9 | NJ | -11 bps | 1.67% | 1.79% |
| 10 | FL | -11 bps | 1.55% | 1.67% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 6/19/20 – 6/26/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | VA | 18 bps | 1.36% | 1.18% |
| 2 | IA | 12 bps | 1.52% | 1.40% |
| 3 | MO | 12 bps | 2.08% | 1.97% |
| 4 | HI | 11 bps | 1.56% | 1.45% |
| 5 | KY | 10 bps | 1.96% | 1.86% |
| 6 | OR | 9 bps | 1.89% | 1.79% |
| 7 | NE | 9 bps | 1.55% | 1.46% |
| 8 | MD | 8 bps | 1.53% | 1.45% |
| 9 | OH | 8 bps | 2.04% | 1.96% |
| 10 | ME | 7 bps | 1.25% | 1.18% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 6/19/20 – 6/26/20 (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 6/19/20 – 6/26/20 (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 Only
Displays the average Muni 10 year yield by state between 6/19/20 – 6/26/20 (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 6/19/20 – 6/26/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 6/19/20 vs. the week ending 6/26/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | DENVER SCHS-REF-B-TXB | 7.02% | 12/15/37 | 5 | 70 | 65 | 1300% |
| 2 | MET TRANS AUTH-C1-REF | 4.00% | 11/15/31 | 27 | 80 | 53 | 196% |
| 3 | NEW YORK CITY NY MUNI | 5.25% | 06/15/36 | 33 | 85 | 52 | 158% |
| 4 | MET NASHVILLE TN ARPT | 5.00% | 07/01/37 | 34 | 86 | 52 | 153% |
| 5 | ENERGY NW-A-REF | 5.00% | 07/01/29 | 12 | 63 | 51 | 425% |
| 6 | N TEX MUN WTR-REF | 5.00% | 09/01/27 | 5 | 54 | 49 | 980% |
| 7 | MET NASHVILLE TN ARPT | 5.00% | 07/01/36 | 34 | 83 | 49 | 144% |
| 8 | NYC TRANS FIN AUTH-S2 | 5.00% | 07/15/34 | 46 | 92 | 46 | 100% |
| 9 | MET NASHVILLE TN ARPT | 5.00% | 07/01/38 | 31 | 75 | 44 | 142% |
| 10 | ARIZONA BRD OF RGTS | 4.00% | 07/01/40 | 48 | 90 | 42 | 88% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 6/19/20 – 6/26/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NEW YORK CITY NY MUNI | 4.00% | 06/15/41 | 39 |
| 2 | NYC TRANSITIONAL FIN | 4.00% | 05/01/40 | 38 |
| 3 | NEW YORK CITY NY MUNI | 4.00% | 06/15/50 | 33 |
| 4 | CA UNIV REVENUE-A-REF | 5.00% | 11/01/47 | 32 |
| 5 | TX WTR DEV | 3.00% | 08/01/40 | 31 |
| 6 | NYC TRANSITIONAL FIN | 4.00% | 05/01/45 | 31 |
| 7 | HOUSTON UTL SYS-C-REF | 4.00% | 11/15/36 | 30 |
| 8 | MET TRANSPRTN AUTH-A- | 4.00% | 02/01/22 | 29 |
| 9 | TRIBOROUGH BRIDGE & T | 4.00% | 11/15/54 | 29 |
| 10 | CALIFORNIA ST | 5.00% | 03/01/31 | 29 |
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