Municipal Bond Market Summary – Week Ending 8/14/20
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Municipal Bond Market Summary: Week Ending 8/14/20
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 8/7/20 – 8/14/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR ELEC PWR-XX | 5.25% | 07/01/40 | 12.14% | 64.20 | 57.25 |
| 2 | HARRIS CNTY TX MET TR | 2.55% | 11/01/35 | 6.17% | 113.07 | 106.50 |
| 3 | KING CNTY HSG AUTH | 4.00% | 06/01/30 | 5.50% | 125.75 | 119.19 |
| 4 | SAN DIEGO USD-R2-CONV | 0.00% | 07/01/41 | 5.07% | 120.16 | 114.37 |
| 5 | LNG IS PWR ELEC GEN-C | 5.25% | 09/01/29 | 4.96% | 137.20 | 130.72 |
| 6 | N TX HWY CABS-REF-1ST | 0.00% | 01/01/28 | 4.25% | 92.13 | 88.37 |
| 7 | CO HLTH FACS AUTH-A | 5.25% | 11/01/32 | 3.73% | 88.96 | 85.77 |
| 8 | CA STWD CMNTY-A-REF | 5.00% | 03/01/35 | 3.63% | 120.78 | 116.55 |
| 9 | STOCKTON UNIF SD-A | 3.00% | 08/01/41 | 3.04% | 109.33 | 106.11 |
| 10 | MO HLTH & EDU FACS | 4.00% | 11/15/42 | 2.88% | 113.04 | 109.88 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 8/7/20 – 8/14/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | FL ST DEV FIN AUTH-B | 4.01% | 04/01/40 | -5.97% | 104.29 | 110.92 |
| 2 | DASNY-F-UNREFUNDED | 3.19% | 02/15/43 | -3.58% | 113.63 | 117.84 |
| 3 | MS ST-TXB-F-BAB | 5.25% | 11/01/34 | -3.17% | 131.88 | 136.20 |
| 4 | HOMEWOOD EDU BLG-B | 3.95% | 12/01/48 | -2.81% | 105.06 | 108.10 |
| 5 | RUTGERS NJ ST UNIV | 2.68% | 05/01/46 | -2.57% | 99.06 | 101.68 |
| 6 | OKLAHOMA CAPITOL IMP | 3.00% | 07/01/34 | -2.50% | 108.74 | 111.53 |
| 7 | ALEXANDRIA UTL-REF | 3.00% | 05/01/40 | -2.30% | 108.28 | 110.83 |
| 8 | WASHOE CO SLS-H-BABS | 7.45% | 02/01/40 | -2.27% | 163.11 | 166.90 |
| 9 | PERALTA CLG-TXB-REF | 7.31% | 08/01/31 | -2.17% | 137.44 | 140.50 |
| 10 | MCLEAN CO PUB BLDG | 5.00% | 12/01/25 | -2.04% | 116.60 | 119.03 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 8/7/20 – 8/14/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | GA | -31 bps | 1.04% | 1.36% |
| 2 | MN | -31 bps | 1.07% | 1.38% |
| 3 | AL | -29 bps | 1.31% | 1.61% |
| 4 | WI | -22 bps | 1.20% | 1.43% |
| 5 | LA | -12 bps | 1.50% | 1.62% |
| 6 | CT | -9 bps | 1.65% | 1.74% |
| 7 | MI | -8 bps | 1.55% | 1.64% |
| 8 | IL | -7 bps | 2.52% | 2.60% |
| 9 | WA | -5 bps | 1.38% | 1.43% |
| 10 | MA | -4 bps | 1.52% | 1.56% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 8/7/20 – 8/14/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DC | 64 bps | 1.59% | 0.94% |
| 2 | AR | 36 bps | 1.47% | 1.11% |
| 3 | NV | 31 bps | 1.76% | 1.45% |
| 4 | MO | 27 bps | 2.11% | 1.84% |
| 5 | PA | 23 bps | 1.71% | 1.48% |
| 6 | IA | 18 bps | 1.53% | 1.35% |
| 7 | AZ | 17 bps | 1.71% | 1.54% |
| 8 | MD | 17 bps | 1.03% | 0.86% |
| 9 | ME | 16 bps | 0.98% | 0.82% |
| 10 | AK | 13 bps | 1.14% | 1.00% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/7/20 – 8/14/20 (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 8/7/20 – 8/14/20 (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 8/7/20 – 8/14/20 (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 8/7/20 – 8/14/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/7/20 vs. the week ending 8/14/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | HAMILTON CO-A | 5.00% | 04/01/24 | 10 | 68 | 58 | 580% |
| 2 | WILLIAMSON CNTY-REF | 5.00% | 04/01/24 | 11 | 64 | 53 | 482% |
| 3 | NEW YORK ST URBAN DEV | 5.00% | 03/15/31 | 65 | 118 | 53 | 82% |
| 4 | WALTHAM | 5.00% | 05/01/23 | 3 | 54 | 51 | 1700% |
| 5 | CYPRESS ETC ISD-A | 5.00% | 02/15/24 | 10 | 59 | 49 | 490% |
| 6 | FORT BEND ISD-A | 2.00% | 08/15/41 | 12 | 60 | 48 | 400% |
| 7 | GEORGIA ST-A-1 | 5.00% | 02/01/23 | 17 | 65 | 48 | 282% |
| 8 | INDIANA FIN AUTH | 5.00% | 02/01/24 | 10 | 58 | 48 | 480% |
| 9 | PORT AUTH OF NEW YORK | 5.00% | 07/15/32 | 56 | 104 | 48 | 86% |
| 10 | WILLIAMSON CO | 4.00% | 02/15/23 | 7 | 53 | 46 | 657% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/7/20 – 8/14/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES DEPT-B | 5.00% | 07/01/40 | 39 |
| 2 | MASSACHUSETTS ST | 5.00% | 07/01/45 | 34 |
| 3 | NEW YORK ST URBAN DEV | 4.00% | 03/15/49 | 33 |
| 4 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 32 |
| 5 | HOUSTON UTL SYS-C-REF | 4.00% | 11/15/37 | 32 |
| 6 | PR SALES TAX FING-A1 | 0.00% | 07/01/46 | 29 |
| 7 | UNIV OF CALIFORNIA-BE | 4.00% | 05/15/50 | 29 |
| 8 | CELINA ISD | 4.00% | 08/15/50 | 28 |
| 9 | CALIFORNIA ST UNIV -A | 5.00% | 11/01/44 | 28 |
| 10 | PORT AUTH OF NEW YORK | 4.00% | 07/15/60 | 28 |
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