Municipal Bond Market Summary – Week Ending 8/6/21
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Municipal Bond Market Summary: Week Ending 8/6/21
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 7/30/21 – 8/6/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ALVORD USD-B-CABS | 0.00% | 08/01/41 | 2.86% | 60.14 | 58.46 |
| 2 | MET GOVT NASHVILLE | 3.44% | 10/01/46 | 2.64% | 119.84 | 116.76 |
| 3 | NEW JERSEY ST ECON DE | 3.38% | 06/15/26 | 2.42% | 109.54 | 106.95 |
| 4 | DENVER CITY&CO-C-REF | 2.04% | 11/15/28 | 2.26% | 104.82 | 102.50 |
| 5 | PORT AUTH NY & NJ-181 | 4.96% | 08/01/46 | 2.05% | 140.60 | 137.78 |
| 6 | PR ELEC SER TT | 5.00% | 07/01/17 | 1.72% | 92.56 | 91.00 |
| 7 | BUILD NYC RESOURCE-A | 5.00% | 06/15/51 | 1.69% | 121.64 | 119.62 |
| 8 | RIALTO USD-A-CAB-2010 | 0.00% | 08/01/36 | 1.69% | 69.64 | 68.48 |
| 9 | DASNY-F-UNREFUNDED | 3.19% | 02/15/43 | 1.39% | 111.97 | 110.43 |
| 10 | NJ TPK-REF-A-BHAC | 5.25% | 01/01/29 | 1.27% | 132.03 | 130.37 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 7/30/21 – 8/6/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | WA ST CONVENTION-BABS | 6.79% | 07/01/40 | -7.56% | 121.44 | 131.37 |
| 2 | ALLEN ECON DEV CORP | 2.45% | 09/01/36 | -2.77% | 99.55 | 102.38 |
| 3 | PR-REF-A | 4.00% | 07/01/24 | -2.72% | 83.96 | 86.31 |
| 4 | OHIO ST HSG FIN AGY-A | 2.45% | 09/01/51 | -2.71% | 100.05 | 102.84 |
| 5 | COOK CO SD #218-A | 3.13% | 12/01/33 | -2.30% | 109.02 | 111.58 |
| 6 | HEADWATERS MUD | 2.00% | 08/15/40 | -2.01% | 94.56 | 96.50 |
| 7 | HARRIS CO MUD #457 | 1.25% | 09/01/33 | -1.99% | 92.76 | 94.65 |
| 8 | KALAMAZOO PUB SCHS | 2.00% | 05/01/41 | -1.90% | 96.52 | 98.39 |
| 9 | PITTSBURG CO EDU FACS | 2.00% | 12/01/39 | -1.79% | 98.21 | 100.00 |
| 10 | NJ TRN FD CAB-SER -A | 0.00% | 12/15/39 | -1.74% | 65.12 | 66.27 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 7/30/21 – 8/6/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | DC | -44 bps | 1.42% | 1.86% |
| 2 | LA | -44 bps | 1.50% | 1.93% |
| 3 | VA | -43 bps | 1.14% | 1.57% |
| 4 | OR | -20 bps | 1.59% | 1.79% |
| 5 | NE | -15 bps | 1.64% | 1.79% |
| 6 | DE | -14 bps | 1.33% | 1.48% |
| 7 | HI | -12 bps | 2.36% | 2.48% |
| 8 | CA | -10 bps | 1.74% | 1.85% |
| 9 | TX | -7 bps | 1.83% | 1.91% |
| 10 | OH | -6 bps | 1.64% | 1.71% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 7/30/21 – 8/6/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | WI | 29 bps | 1.97% | 1.68% |
| 2 | NC | 24 bps | 1.36% | 1.13% |
| 3 | MA | 20 bps | 1.92% | 1.72% |
| 4 | WA | 19 bps | 1.91% | 1.72% |
| 5 | CO | 15 bps | 1.48% | 1.33% |
| 6 | AZ | 13 bps | 1.97% | 1.84% |
| 7 | KS | 11 bps | 2.52% | 2.41% |
| 8 | UT | 11 bps | 1.14% | 1.03% |
| 9 | TN | 7 bps | 1.66% | 1.59% |
| 10 | AL | 7 bps | 1.92% | 1.84% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 7/30/21 – 8/6/21 (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 7/30/21 – 8/6/21 (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 7/30/21 – 8/6/21 (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 7/30/21 – 8/6/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 7/30/21 vs. the week ending 8/6/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 132 | 180 | 48 | 36% |
| 2 | TEXAS ST MUNI PWR AGY | 3.00% | 09/01/46 | 38 | 85 | 47 | 124% |
| 3 | WELD CO SD #6 | 4.00% | 12/01/41 | 38 | 84 | 46 | 121% |
| 4 | CALIFORNIA ST-REF | 5.00% | 08/01/26 | 45 | 85 | 40 | 89% |
| 5 | NEW YORK CITY-F-1 | 5.00% | 06/01/24 | 12 | 50 | 38 | 317% |
| 6 | UNIV OF TEXAS TX UNIV | 5.00% | 08/15/24 | 5 | 40 | 35 | 700% |
| 7 | DASNY-A-REF-GROUP 3 | 3.00% | 03/15/42 | 10 | 44 | 34 | 340% |
| 8 | NY ST ENVIR FACS-A | 5.00% | 06/15/25 | 2 | 35 | 33 | 1650% |
| 9 | N TX TOLLWAY AUTH REV | 5.00% | 01/01/24 | 22 | 54 | 32 | 145% |
| 10 | JACKSONVILLE-A-REF | 5.00% | 10/01/26 | 4 | 35 | 31 | 775% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 7/30/21 – 8/6/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 36 |
| 2 | NEW JERSEY ST TURNPIK | 4.00% | 01/01/51 | 32 |
| 3 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 32 |
| 4 | PORT OF SEATTLE WA-C | 5.00% | 08/01/46 | 26 |
| 5 | SAN ANTONIO -A-REF | 4.00% | 05/15/38 | 25 |
| 6 | UPPER TRINITY REGL | 3.00% | 08/01/51 | 25 |
| 7 | LIVONIA MI PUBLIC SD | 4.00% | 05/01/36 | 24 |
| 8 | NYC MUNI WTR FIN-AA-1 | 5.00% | 06/15/48 | 24 |
| 9 | GEORGIA ST-A-1-REF | 5.00% | 07/01/33 | 24 |
| 10 | ROYSE CITY ISD | 4.00% | 02/15/51 | 23 |
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