Municipal Bond Market Summary – Week Ending 7/9/21
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Municipal Bond Market Summary: Week Ending 7/9/21
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 7/2/21 – 7/9/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UNIV VA-A-TXBL | 3.23% | 09/01/19 | 4.45% | 102.60 | 98.23 |
| 2 | UNIV OF CALIFORNIA-AQ | 4.77% | 05/15/15 | 4.12% | 144.46 | 138.75 |
| 3 | WILLITS USD-A | 2.00% | 08/01/50 | 3.72% | 99.30 | 95.74 |
| 4 | RUTGERS NJ ST UNIV | 3.27% | 05/01/43 | 3.66% | 110.88 | 106.96 |
| 5 | LOS ANGELES CCD-REF | 2.11% | 08/01/32 | 3.65% | 105.44 | 101.73 |
| 6 | ALVORD USD-B-CABS | 0.00% | 08/01/41 | 3.56% | 60.03 | 57.97 |
| 7 | ESCONDIDO HSD-C-CABS | 0.00% | 08/01/41 | 3.42% | 61.46 | 59.42 |
| 8 | UNIV OF VIRGINIA-REF | 2.26% | 09/01/50 | 3.40% | 96.00 | 92.85 |
| 9 | COACHELLA VY USD CAB | 0.00% | 08/01/39 | 3.09% | 69.47 | 67.39 |
| 10 | CALIFORNIA ST-TXBL | 1.75% | 11/01/30 | 3.06% | 102.67 | 99.62 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 7/2/21 – 7/9/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ALVORD USD-B-CABS | 0.00% | 08/01/32 | -4.79% | 82.94 | 87.11 |
| 2 | PR COMLWTH UNREF-B | 5.25% | 07/01/32 | -1.66% | 90.54 | 92.07 |
| 3 | PORT OF OAKLAND CA | 1.18% | 05/01/25 | -1.44% | 99.35 | 100.79 |
| 4 | CROCKETT INDEP SCH DT | 1.67% | 08/15/32 | -1.27% | 98.03 | 99.29 |
| 5 | PA ST HGR EDU FACS | 4.00% | 11/01/39 | -1.10% | 103.94 | 105.09 |
| 6 | ESCAMBIA CO HLTH FACS | 5.00% | 08/15/34 | -0.93% | 124.74 | 125.91 |
| 7 | BRIGHTON CENTRL SD | 2.00% | 06/15/30 | -0.87% | 105.54 | 106.46 |
| 8 | FRANKLIN CO HOSP-REF | 4.00% | 05/15/43 | -0.82% | 106.52 | 107.40 |
| 9 | NC MED CARE-REF | 4.00% | 10/01/42 | -0.75% | 103.59 | 104.37 |
| 10 | SAN FRANCISCO USD | 3.25% | 06/15/32 | -0.75% | 107.38 | 108.18 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 7/2/21 – 7/9/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | FL | -28 bps | 1.40% | 1.68% |
| 2 | HI | -28 bps | 2.13% | 2.41% |
| 3 | SC | -27 bps | 1.64% | 1.91% |
| 4 | NE | -26 bps | 1.53% | 1.79% |
| 5 | LA | -24 bps | 1.49% | 1.73% |
| 6 | MS | -18 bps | 1.44% | 1.62% |
| 7 | WI | -14 bps | 1.76% | 1.90% |
| 8 | KS | -13 bps | 2.42% | 2.56% |
| 9 | NC | -13 bps | 1.11% | 1.24% |
| 10 | DE | -13 bps | 1.04% | 1.17% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 7/2/21 – 7/9/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | VA | 28 bps | 1.58% | 1.30% |
| 2 | CT | 14 bps | 2.04% | 1.90% |
| 3 | AL | 13 bps | 1.79% | 1.66% |
| 4 | CO | 9 bps | 1.60% | 1.51% |
| 5 | OH | 7 bps | 1.77% | 1.70% |
| 6 | TN | 7 bps | 1.58% | 1.51% |
| 7 | OR | 6 bps | 1.95% | 1.89% |
| 8 | WA | 2 bps | 1.85% | 1.83% |
| 9 | MD | 2 bps | 1.33% | 1.31% |
| 10 | MO | 1 bps | 1.84% | 1.82% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 7/2/21 – 7/9/21 (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 7/2/21 – 7/9/21 (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 7/2/21 – 7/9/21 (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 7/2/21 – 7/9/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 7/2/21 vs. the week ending 7/9/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CALIFORNIA | 4.00% | 10/01/34 | 62 | 105 | 43 | 69% |
| 2 | SNOHOMISH CNTY WA PUB | 5.00% | 12/01/51 | 42 | 85 | 43 | 102% |
| 3 | SIERRA CLG DIST-A | 4.00% | 08/01/38 | 27 | 70 | 43 | 159% |
| 4 | SAN DIEGUITO UN HSD | 3.00% | 08/01/38 | 41 | 83 | 42 | 102% |
| 5 | DELAWARE STATE-REF | 5.00% | 02/01/29 | 26 | 64 | 38 | 146% |
| 6 | WASHINGTON ST -D | 5.00% | 07/01/30 | 2 | 39 | 37 | 1850% |
| 7 | LOS ANGELES UNIF SD-C | 4.00% | 07/01/38 | 7 | 44 | 37 | 529% |
| 8 | HOUSTON-A-REV-REF | 3.00% | 11/15/51 | 62 | 98 | 36 | 58% |
| 9 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 35 | 71 | 36 | 103% |
| 10 | SAN MATEO CA PUB FING | 4.00% | 08/01/39 | 20 | 56 | 36 | 180% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 7/2/21 – 7/9/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | IN FIN AUTH-REF-1 | 4.00% | 10/01/36 | 30 |
| 2 | PORT OF SEATTLE WA-C | 5.00% | 08/01/46 | 28 |
| 3 | WEST VIRGINIA ST PARK | 4.00% | 06/01/51 | 27 |
| 4 | ALAMO CMNTY CLG DIST | 4.00% | 08/15/39 | 27 |
| 5 | HOUSTON-A-REV-REF | 4.00% | 11/15/51 | 27 |
| 6 | PR SALES TAX FING-A1 | 0.00% | 07/01/51 | 27 |
| 7 | VA CLG BLDG AUTH-A | 3.00% | 02/01/41 | 25 |
| 8 | ALAMO CMNTY CLG DIST | 4.00% | 08/15/38 | 24 |
| 9 | HOUSTON-A-REV-REF | 3.00% | 11/15/51 | 24 |
| 10 | ENERGY NW ELEC REV | 4.00% | 07/01/42 | 24 |
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