Municipal Bond Market Summary – Week Ending 9/10/21
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Municipal Bond Market Summary: Week Ending 9/10/21
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 9/3/21 – 9/10/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PENNSYLVANIA ST ECON | 2.78% | 06/15/35 | 7.03% | 104.52 | 97.65 |
| 2 | PR HWY/TRN-M-UNREF | 5.00% | 07/01/46 | 6.36% | 54.00 | 50.77 |
| 3 | SAN JOSE CA FING AUTH | 2.81% | 06/01/37 | 4.48% | 98.32 | 94.10 |
| 4 | VA ST CLG BLDG AUTH-B | 2.11% | 09/01/35 | 4.36% | 96.74 | 92.70 |
| 5 | PA TURNPIKE COMM | 3.78% | 12/01/42 | 2.94% | 107.44 | 104.37 |
| 6 | SANTA MONICA CA PUB | 2.25% | 07/01/51 | 2.45% | 99.35 | 96.97 |
| 7 | CHICAGO-TXB-REF-SER B | 6.21% | 01/01/32 | 2.29% | 125.54 | 122.73 |
| 8 | PARLIER UNIF SD -B | 2.13% | 08/01/42 | 2.19% | 98.31 | 96.21 |
| 9 | INDIANAPOLIS BOND BK | 5.00% | 01/01/37 | 1.90% | 129.95 | 127.53 |
| 10 | DUTCHESS CO LOC DEV C | 2.00% | 09/01/36 | 1.66% | 99.78 | 98.14 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 9/3/21 – 9/10/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | WILLITS USD-CABS-A-20 | 0.00% | 07/15/34 | -5.92% | 77.28 | 82.14 |
| 2 | SC PUB SVC AUTH-E-TXL | 4.55% | 12/01/30 | -4.32% | 119.70 | 125.10 |
| 3 | DASNY -REV – F | 3.11% | 02/15/39 | -3.75% | 108.03 | 112.24 |
| 4 | CLOVERDALE USD-A | 4.00% | 08/01/48 | -3.27% | 115.21 | 119.11 |
| 5 | MISSOURI ST DEV FIN | 3.00% | 03/01/46 | -3.24% | 101.67 | 105.08 |
| 6 | WEST MEMPHIS AR PUBLI | 2.63% | 12/01/51 | -2.97% | 99.74 | 102.79 |
| 7 | ATLANTIC CNTY NJ IMPT | 3.11% | 06/01/51 | -2.82% | 100.06 | 102.97 |
| 8 | SOUTH CAROLINA ST JOB | 6.25% | 06/01/40 | -2.52% | 104.43 | 107.13 |
| 9 | NEW YORK CITY TRUST | 5.00% | 12/01/32 | -2.13% | 129.11 | 131.93 |
| 10 | PORT OF MORROW OR TRA | 2.54% | 09/01/40 | -1.99% | 101.48 | 103.54 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 9/3/21 – 9/10/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MO | -38 bps | 2.09% | 2.47% |
| 2 | NJ | -36 bps | 1.84% | 2.20% |
| 3 | NV | -34 bps | 1.73% | 2.07% |
| 4 | OH | -18 bps | 1.77% | 1.95% |
| 5 | SC | -17 bps | 1.69% | 1.86% |
| 6 | IL | -15 bps | 2.08% | 2.23% |
| 7 | FL | -15 bps | 1.71% | 1.85% |
| 8 | AL | -15 bps | 1.83% | 1.98% |
| 9 | KS | -14 bps | 1.70% | 1.84% |
| 10 | CT | -14 bps | 2.03% | 2.17% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 9/3/21 – 9/10/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MD | 40 bps | 1.90% | 1.50% |
| 2 | WI | 30 bps | 2.49% | 2.20% |
| 3 | DC | 24 bps | 2.06% | 1.81% |
| 4 | IA | 21 bps | 1.94% | 1.73% |
| 5 | TN | 17 bps | 1.89% | 1.72% |
| 6 | NC | 14 bps | 1.29% | 1.16% |
| 7 | UT | 13 bps | 1.61% | 1.48% |
| 8 | TX | 10 bps | 2.24% | 2.14% |
| 9 | MS | 10 bps | 1.56% | 1.46% |
| 10 | OR | 8 bps | 1.84% | 1.76% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 9/3/21 – 9/10/21 (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 9/3/21 – 9/10/21(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 9/3/21 – 9/10/21 (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 9/3/21 – 9/10/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 9/3/21 vs. the week ending 9/10/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | UNIV OF OREGON | 5.00% | 04/01/50 | 20 | 67 | 47 | 235% |
| 2 | MICHIGAN ST TRUNK LIN | 4.00% | 11/15/44 | 40 | 73 | 33 | 83% |
| 3 | CONNECTICUT ST HSG FI | 2.00% | 11/15/36 | 15 | 47 | 32 | 213% |
| 4 | UNIV OF TEXAS TX-BOR | 5.00% | 08/15/49 | 30 | 61 | 31 | 103% |
| 5 | CONNECTICUT ST HSG FI | 2.00% | 11/15/36 | 20 | 51 | 31 | 155% |
| 6 | SCHERTZ-CIBOLO-UNIV | 2.21% | 02/01/45 | 14 | 45 | 31 | 221% |
| 7 | NASSAU CNTY NY INTERI | 1.46% | 11/15/29 | 7 | 38 | 31 | 443% |
| 8 | CALIFORNIA ST | 5.00% | 04/01/49 | 18 | 47 | 29 | 161% |
| 9 | NEW JERSEY ST-A | 5.00% | 06/01/28 | 99 | 128 | 29 | 29% |
| 10 | CONTRA COSTA CA WTR D | 5.00% | 10/01/51 | 39 | 67 | 28 | 72% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 9/3/21 – 9/10/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CA HLTH FACS-A2 | 5.00% | 11/01/47 | 27 |
| 2 | NEW JERSEY ST-A | 5.00% | 06/01/28 | 27 |
| 3 | TN ENERGY ACQ CORP-A | 5.00% | 05/01/52 | 26 |
| 4 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 26 |
| 5 | NORFOLK -A | 5.00% | 03/01/33 | 24 |
| 6 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/37 | 23 |
| 7 | TEXAS ST MUNI PWR AGY | 3.00% | 09/01/46 | 23 |
| 8 | ILLINOIS ST FIN AUTH | 4.00% | 07/01/37 | 23 |
| 9 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 22 |
| 10 | BLACK BELT ENERGY GAS | 4.00% | 06/01/51 | 22 |
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