Municipal Bond Market Summary – Week Ending 9/18/20
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Municipal Bond Market Summary: Week Ending 9/18/20
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 9/11/20 – 9/18/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CALIFORNIA ST DEPT OF | 1.32% | 12/01/28 | 5.43% | 106.77 | 101.28 |
| 2 | PR ELEC PWR-XX | 5.75% | 07/01/36 | 4.47% | 72.72 | 69.61 |
| 3 | PR COMWLTH-REF-A-IMPT | 5.50% | 07/01/18 | 4.13% | 63.00 | 60.50 |
| 4 | HIGHLAND LOCAL SD-CAB | 0.00% | 12/01/38 | 2.76% | 63.00 | 61.30 |
| 5 | CONVTN CTR TXB-A-CIVI | 6.03% | 05/15/28 | 2.36% | 124.07 | 121.21 |
| 6 | CLARK CO-SALE TAX-REF | 5.00% | 07/01/26 | 1.87% | 125.32 | 123.02 |
| 7 | CHICAGO ARPT-REF-AMT | 5.00% | 01/01/35 | 1.85% | 112.14 | 110.10 |
| 8 | LAREDO CLG-REF-TXBL | 2.55% | 08/01/28 | 1.84% | 108.49 | 106.53 |
| 9 | MINNEAPOLIS ST PAUL M | 5.00% | 01/01/26 | 1.79% | 122.32 | 120.17 |
| 10 | W BABYLON SD | 4.00% | 08/01/32 | 1.59% | 114.96 | 113.16 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 9/11/20 – 9/18/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PR COMWLTH CAB-REF- | 0.00% | 07/01/18 | -7.20% | 58.00 | 62.50 |
| 2 | MET TRANSPRTN-BAM | 5.00% | 11/15/52 | -4.01% | 116.13 | 120.98 |
| 3 | NEW HOPE CULT EDU-B | 4.00% | 07/01/24 | -3.36% | 94.94 | 98.24 |
| 4 | BALTIMORE CONVTN-REF | 5.00% | 09/01/36 | -2.43% | 89.35 | 91.57 |
| 5 | COLUMBUS CITY SD | 4.00% | 12/01/31 | -2.42% | 124.76 | 127.86 |
| 6 | CA STWD CMNTYS | 5.25% | 07/01/49 | -2.41% | 97.54 | 99.95 |
| 7 | BULLITT PUB LIBRARY | 2.00% | 12/01/46 | -2.33% | 97.67 | 100.00 |
| 8 | ALASKA ST-A | 5.00% | 08/01/33 | -1.98% | 133.61 | 136.31 |
| 9 | ALLEGHENY CO-C-78 | 4.00% | 11/01/49 | -1.87% | 118.05 | 120.30 |
| 10 | LOS ANGELES CA MUNI I | 1.34% | 11/01/26 | -1.72% | 101.72 | 103.50 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 9/11/20 – 9/18/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | CO | -71 bps | 1.49% | 2.20% |
| 2 | MO | -47 bps | 1.82% | 2.29% |
| 3 | AZ | -44 bps | 1.45% | 1.89% |
| 4 | CT | -44 bps | 1.97% | 2.40% |
| 5 | TN | -31 bps | 1.37% | 1.68% |
| 6 | AL | -31 bps | 1.36% | 1.67% |
| 7 | HI | -29 bps | 1.69% | 1.99% |
| 8 | LA | -27 bps | 1.56% | 1.83% |
| 9 | MI | -25 bps | 1.64% | 1.89% |
| 10 | PA | -24 bps | 1.72% | 1.96% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 9/11/20 – 9/18/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MA | 48 bps | 1.64% | 1.16% |
| 2 | MO | 40 bps | 2.28% | 1.88% |
| 3 | SC | 33 bps | 1.76% | 1.43% |
| 4 | CT | 33 bps | 2.45% | 2.13% |
| 5 | LA | 25 bps | 1.82% | 1.58% |
| 6 | IL | 25 bps | 3.00% | 2.76% |
| 7 | WA | 24 bps | 1.75% | 1.51% |
| 8 | HI | 22 bps | 1.99% | 1.77% |
| 9 | IA | 21 bps | 1.49% | 1.28% |
| 10 | NV | 14 bps | 1.85% | 1.70% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 9/11/20 – 9/18/20 (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 9/11/20 – 9/18/20 (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 9/11/20 – 9/18/20 (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 9/11/20 – 9/18/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 9/11/20 vs. the week ending 9/18/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | FAIRFAX CO | 5.00% | 10/01/37 | 10 | 70 | 60 | 600% |
| 2 | CALIFORNIA ST | 5.00% | 09/01/25 | 20 | 65 | 45 | 225% |
| 3 | MET TRANSPRTN AUTH NY | 5.00% | 11/15/34 | 11 | 54 | 43 | 391% |
| 4 | LOS ANGELES CO MTA -A | 5.00% | 06/01/33 | 55 | 95 | 40 | 73% |
| 5 | NEW YORK ST URBAN DEV | 5.00% | 03/15/30 | 43 | 83 | 40 | 93% |
| 6 | OHIO ST WTR DEV AUTH | 5.00% | 12/01/31 | 5 | 44 | 39 | 780% |
| 7 | WASHINGTON ST-2020A | 5.00% | 08/01/37 | 6 | 45 | 39 | 650% |
| 8 | HOUSTON TX ARPT SYS R | 5.00% | 07/15/27 | 24 | 59 | 35 | 146% |
| 9 | MET TRANSPRTN -A-1 | 4.00% | 11/15/42 | 11 | 45 | 34 | 309% |
| 10 | MCKINNEY TX-A | 5.00% | 08/15/30 | 12 | 45 | 33 | 275% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 9/11/20 – 9/18/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MASSACHUSETTS ST | 5.00% | 07/01/48 | 29 |
| 2 | CALIFORNIA ST | 5.00% | 11/01/30 | 25 |
| 3 | PR SALES TAX FING-A1 | 0.00% | 07/01/46 | 24 |
| 4 | PR SALES TAX FING-A1 | 0.00% | 07/01/31 | 23 |
| 5 | WASHINGTON ST -B | 5.00% | 06/01/43 | 23 |
| 6 | HOUSTON PORT AUTH -A | 4.00% | 10/01/36 | 23 |
| 7 | FULTON CO -A -WTR SWR | 3.00% | 01/01/36 | 22 |
| 8 | NEW YORK ST URBAN DEV | 5.00% | 03/15/31 | 21 |
| 9 | SAN FRANCISCO ARPT-A | 5.00% | 05/01/37 | 21 |
| 10 | SC TRANSPRTN-2003B | 2.08% | 10/01/31 | 21 |
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