Municipal Bond Market Summary – Week Ending 8/20/21
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Municipal Bond Market Summary: Week Ending 8/20/21
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 8/13/21 – 8/20/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MONTGOMERY HSG-TXBL | 2.62% | 06/01/41 | 9.56% | 100.15 | 91.42 |
| 2 | LA DEPT OF APRTS-C | 3.89% | 05/15/38 | 5.92% | 117.64 | 111.06 |
| 3 | UNIV OF PITTSBURGH PA | 3.56% | 09/15/19 | 4.02% | 115.77 | 111.30 |
| 4 | OHIO ST UNIV-A-TXBL | 4.80% | 06/01/11 | 3.55% | 152.63 | 147.40 |
| 5 | PORT AUTH OF NEW YORK | 3.29% | 08/01/69 | 3.27% | 112.93 | 109.36 |
| 6 | SAN ANTONIO ELEC-TXBL | 4.43% | 02/01/42 | 3.06% | 127.94 | 124.14 |
| 7 | IOWA ST HGR EDU LOAN | 3.03% | 12/01/51 | 2.96% | 110.58 | 107.41 |
| 8 | ORANGE UNIF SD-TXBL | 2.60% | 05/01/41 | 2.95% | 100.34 | 97.47 |
| 9 | SANTA MONICA-MALIBU | 2.13% | 07/01/37 | 2.71% | 100.53 | 97.88 |
| 10 | AMERN MUN PWR-BABS | 5.94% | 02/15/47 | 2.64% | 156.45 | 152.42 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 8/13/21 – 8/20/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | JEFFERSON CNTY NY CIV | 4.00% | 11/01/47 | -2.67% | 106.38 | 109.30 |
| 2 | PR-REF-A | 5.00% | 07/01/33 | -2.42% | 85.13 | 87.24 |
| 3 | FAYETTEVILLE ST UNI | 5.00% | 04/01/43 | -2.20% | 128.45 | 131.34 |
| 4 | ROSEMONT-TXBL-A | 5.38% | 12/01/31 | -2.05% | 125.77 | 128.40 |
| 5 | PORT AUTH OF NEW YORK | 5.00% | 11/01/33 | -2.04% | 130.83 | 133.56 |
| 6 | NYC MUNI WTR FIN-AA-1 | 3.50% | 06/15/48 | -2.03% | 112.66 | 114.99 |
| 7 | SCOTT CO CMNTY DEV-A | 2.63% | 02/01/44 | -2.02% | 104.74 | 106.89 |
| 8 | IRVINE UNIF SCH DIST | 2.25% | 09/01/49 | -1.95% | 99.17 | 101.15 |
| 9 | EAST CAROLINA UNIV-A | 3.38% | 10/01/39 | -1.94% | 108.54 | 110.69 |
| 10 | UNIV OF WYOMING-A-REF | 3.00% | 06/01/37 | -1.88% | 111.45 | 113.58 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 8/13/21 – 8/20/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MN | -34 bps | 1.59% | 1.93% |
| 2 | KS | -30 bps | 2.16% | 2.46% |
| 3 | PA | -25 bps | 2.04% | 2.29% |
| 4 | GA | -24 bps | 1.46% | 1.70% |
| 5 | MD | -22 bps | 1.23% | 1.45% |
| 6 | AL | -20 bps | 1.88% | 2.08% |
| 7 | AZ | -14 bps | 1.78% | 1.92% |
| 8 | FL | -11 bps | 1.56% | 1.67% |
| 9 | OR | -11 bps | 1.55% | 1.67% |
| 10 | MI | -9 bps | 1.76% | 1.85% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 8/13/21 – 8/20/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | LA | 45 bps | 2.00% | 1.55% |
| 2 | NJ | 30 bps | 2.13% | 1.83% |
| 3 | TX | 21 bps | 2.02% | 1.82% |
| 4 | HI | 17 bps | 2.43% | 2.26% |
| 5 | IL | 16 bps | 2.25% | 2.08% |
| 6 | TN | 14 bps | 1.73% | 1.58% |
| 7 | MA | 13 bps | 1.85% | 1.72% |
| 8 | UT | 11 bps | 1.33% | 1.22% |
| 9 | NV | 8 bps | 1.95% | 1.88% |
| 10 | IA | 8 bps | 1.66% | 1.58% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/13/21 – 8/20/21 (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 8/13/21 – 8/20/21 (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 8/13/21 – 8/20/21 (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 8/13/21 – 8/20/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/13/21 vs. the week ending 8/20/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SAN FRANCISCO CA-D-1 | 4.00% | 06/15/44 | 11 | 81 | 70 | 636% |
| 2 | LA CA DEPT OF ARPTS | 5.00% | 05/15/31 | 7 | 73 | 66 | 943% |
| 3 | NEW JERSEY ST-A | 5.00% | 06/01/26 | 19 | 74 | 55 | 289% |
| 4 | DASNY-A-REF-GROUP 2 | 5.00% | 03/15/31 | 23 | 77 | 54 | 235% |
| 5 | SAN FRANCISCO CA-D-1 | 4.00% | 06/15/37 | 6 | 60 | 54 | 900% |
| 6 | FL DEV FIN CORP-A-REF | 4.00% | 06/01/46 | 35 | 86 | 51 | 146% |
| 7 | SAN ANTONIO-C-REV | 5.00% | 05/15/41 | 6 | 56 | 50 | 833% |
| 8 | PORT AUTH OF NY -REF | 5.00% | 07/15/30 | 14 | 61 | 47 | 336% |
| 9 | EAGLE RIVER CO WTR-A | 4.00% | 12/01/49 | 17 | 63 | 46 | 271% |
| 10 | CALIFORNIA ST PUBLIC | 4.00% | 05/01/46 | 24 | 70 | 46 | 192% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/13/21 – 8/20/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 33 |
| 2 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 30 |
| 3 | NEW JERSEY ST TURNPIK | 4.00% | 01/01/51 | 28 |
| 4 | SNOHOMISH CNTY WA PUB | 5.00% | 12/01/51 | 26 |
| 5 | BLACK BELT ENERGY GAS | 4.00% | 06/01/51 | 25 |
| 6 | VA CLG BLDG AUTH-A | 3.00% | 02/01/41 | 24 |
| 7 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/36 | 24 |
| 8 | ILLINOIS ST FIN AUTH | 4.00% | 07/01/37 | 23 |
| 9 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/37 | 23 |
| 10 | TN ENERGY ACQ CORP-A | 5.00% | 05/01/52 | 23 |
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