Municipal Bond Market Summary – Week Ending 8/21/20
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Municipal Bond Market Summary: Week Ending 8/21/20
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 8/14/20 – 8/21/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | DISTRICT OF COLUMBIA | 3.43% | 04/01/42 | 4.56% | 107.70 | 103.00 |
| 2 | PR-REF-A | 4.00% | 07/01/24 | 2.89% | 59.92 | 58.24 |
| 3 | TRUCKEE REDEV-REF | 4.00% | 09/01/34 | 2.82% | 122.32 | 118.96 |
| 4 | TX ST-BABS-A | 4.63% | 04/01/33 | 2.32% | 130.92 | 127.94 |
| 5 | PENNSYLVANIA ST HGR E | 5.00% | 08/15/47 | 2.18% | 123.18 | 120.56 |
| 6 | MD HLTH&HGR EDUCTNL-D | 3.20% | 07/01/50 | 2.03% | 106.58 | 104.46 |
| 7 | CO EDUCTNL-A-BAM | 2.50% | 09/01/39 | 1.96% | 103.23 | 101.25 |
| 8 | RAILSPLITTER TOBACCO | 5.00% | 06/01/25 | 1.91% | 119.32 | 117.08 |
| 9 | BEXAR CO-B-REF-TXBL | 2.24% | 06/15/43 | 1.88% | 101.94 | 100.06 |
| 10 | E BATON ROUGE PARISH | 1.64% | 02/01/29 | 1.77% | 101.77 | 100.00 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 8/14/20 – 8/21/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | WEST DES MOINES-C | 1.55% | 06/01/35 | -8.79% | 89.28 | 97.88 |
| 2 | FULTON CNTY GA DEV AU | 3.24% | 10/01/49 | -4.95% | 89.52 | 94.18 |
| 3 | TRAVIS CO TX MUD #2-A | 1.88% | 09/01/38 | -3.63% | 95.91 | 99.53 |
| 4 | CHICAGO O’HARE ARPT-C | 4.47% | 01/01/49 | -3.36% | 126.41 | 130.80 |
| 5 | REDONDO BEACH CA UNIF | 4.00% | 08/01/37 | -3.32% | 114.71 | 118.65 |
| 6 | OCEANSIDE USD-CABS-B | 0.00% | 08/01/40 | -2.93% | 63.81 | 65.73 |
| 7 | TRAVIS CO TX MUD #2-A | 1.75% | 09/01/36 | -2.64% | 96.59 | 99.21 |
| 8 | FOWLER SD-CABS-2004-C | 0.00% | 08/01/40 | -2.60% | 63.67 | 65.37 |
| 9 | HAWTHORNE CA PENSN OB | 2.44% | 06/01/25 | -2.49% | 104.06 | 106.72 |
| 10 | VICTOR VY CLG-CABS-C | 0.00% | 08/01/30 | -2.35% | 85.41 | 87.47 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 8/14/20 – 8/21/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MO | -24 bps | 1.80% | 2.04% |
| 2 | DC | -18 bps | 1.41% | 1.58% |
| 3 | PA | -14 bps | 1.68% | 1.82% |
| 4 | UT | -10 bps | 0.97% | 1.07% |
| 5 | MS | -8 bps | 1.13% | 1.21% |
| 6 | OH | -7 bps | 1.88% | 1.94% |
| 7 | IL | -4 bps | 2.43% | 2.47% |
| 8 | IA | -4 bps | 1.50% | 1.54% |
| 9 | MD | -3 bps | 1.00% | 1.03% |
| 10 | NC | -2 bps | 1.03% | 1.05% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 8/14/20 – 8/21/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | IN | 94 bps | 2.32% | 1.38% |
| 2 | CT | 62 bps | 2.26% | 1.65% |
| 3 | AL | 37 bps | 1.70% | 1.33% |
| 4 | GA | 33 bps | 1.38% | 1.04% |
| 5 | AR | 29 bps | 1.75% | 1.46% |
| 6 | WI | 27 bps | 1.47% | 1.21% |
| 7 | MI | 27 bps | 1.82% | 1.55% |
| 8 | MN | 26 bps | 1.34% | 1.07% |
| 9 | WA | 25 bps | 1.62% | 1.37% |
| 10 | KS | 24 bps | 1.62% | 1.37% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/14/20 – 8/21/20 (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 8/14/20 – 8/21/20 (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 8/14/20 – 8/21/20 (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 8/14/20 – 8/21/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/14/20 vs. the week ending 8/21/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | TX WTR DEV BRD-B | 5.00% | 04/15/49 | 35 | 173 | 138 | 394% |
| 2 | WASHINGTON ST-A | 5.00% | 08/01/31 | 1 | 66 | 65 | 6500% |
| 3 | CALIFORNIA ST | 5.00% | 03/01/31 | 1 | 59 | 58 | 5800% |
| 4 | CALIFORNIA ST UNIV-B | 3.07% | 11/01/42 | 34 | 89 | 55 | 162% |
| 5 | MASSACHUSETTS ST DEV | 5.00% | 10/15/29 | 28 | 83 | 55 | 196% |
| 6 | CALIFORNIA ST HLTH FA | 5.00% | 10/01/39 | 9 | 62 | 53 | 589% |
| 7 | MASSACHUSETTS-C-REF | 5.00% | 08/01/24 | 17 | 70 | 53 | 312% |
| 8 | OHIO ST-B-REF | 5.00% | 08/01/24 | 13 | 65 | 52 | 400% |
| 9 | NEW YORK NY-C-1-REF | 5.00% | 08/01/30 | 26 | 77 | 51 | 196% |
| 10 | HENRY CO SD | 5.00% | 08/01/23 | 5 | 54 | 49 | 980% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/14/20 – 8/21/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | LOS ANGELES DEPT-B | 5.00% | 07/01/40 | 40 |
| 2 | TX WTR DEV BRD-B | 5.00% | 04/15/49 | 33 |
| 3 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 32 |
| 4 | HOUSTON UTL SYS-C-REF | 4.00% | 11/15/37 | 31 |
| 5 | PORT AUTH OF NEW YORK | 4.00% | 07/15/60 | 30 |
| 6 | MASSACHUSETTS ST | 5.00% | 07/01/45 | 29 |
| 7 | UNIV OF CALIFORNIA-BE | 4.00% | 05/15/50 | 29 |
| 8 | CELINA ISD | 4.00% | 08/15/50 | 28 |
| 9 | PR SALES TAX FING-A1 | 0.00% | 07/01/46 | 28 |
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