Municipal Bond Market Summary – Week Ending 9/3/21
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Municipal Bond Market Summary: Week Ending 9/3/21
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 8/27/21 – 9/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PUB IMPT-SER A-PSA | 5.00% | 07/01/28 | 2.22% | 93.28 | 91.25 |
| 2 | WISCONSIN-A-REF-TXBL | 3.95% | 05/01/36 | 1.97% | 113.62 | 111.43 |
| 3 | EL SEGUNDO UNIF SD-B | 2.00% | 08/01/48 | 1.90% | 94.49 | 92.72 |
| 4 | CHICAGO-TXB-REF-SER B | 6.21% | 01/01/32 | 1.89% | 122.73 | 120.45 |
| 5 | HENRICO CNTY-TXBL-B | 1.81% | 05/01/35 | 1.74% | 98.10 | 96.43 |
| 6 | GEORGIA ST -B -GROUP | 1.45% | 08/01/34 | 1.66% | 96.81 | 95.22 |
| 7 | TIFT CO HOSP AUTH-REV | 2.98% | 12/01/42 | 1.55% | 104.04 | 102.45 |
| 8 | SANTA CLARA USD | 5.00% | 07/01/25 | 1.52% | 117.07 | 115.32 |
| 9 | AVON-B-REF | 1.93% | 12/01/32 | 1.52% | 99.23 | 97.75 |
| 10 | DULUTH MN ECON DEV AU | 3.00% | 06/15/44 | 1.37% | 104.66 | 103.25 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 8/27/21 – 9/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | RIVERSIDE CO-TXBL-REV | 3.82% | 02/15/38 | -8.18% | 104.45 | 113.76 |
| 2 | VA ST CLG BLDG AUTH-B | 2.11% | 09/01/35 | -7.21% | 92.70 | 99.91 |
| 3 | SAN JOSE CA FING AUTH | 2.81% | 06/01/37 | -6.81% | 94.10 | 100.98 |
| 4 | PENNSYLVANIA ST ECON | 2.78% | 06/15/35 | -6.71% | 97.65 | 104.67 |
| 5 | SANTA MONICA MALIBU | 2.34% | 08/01/37 | -4.38% | 96.23 | 100.64 |
| 6 | BROOKINGS SD#05-1-REF | 2.37% | 08/01/37 | -4.17% | 97.07 | 101.29 |
| 7 | E RUTHERFORD BORO BOE | 2.00% | 07/15/33 | -2.96% | 101.19 | 104.28 |
| 8 | CSCDA CMNTY IMPT AUTH | 3.00% | 02/01/57 | -2.66% | 100.98 | 103.74 |
| 9 | LOUISIANA ST PUBLIC | 2.28% | 06/01/30 | -2.57% | 100.90 | 103.56 |
| 10 | MEMPHIS-IMPT-B-BABS | 6.15% | 05/01/30 | -2.49% | 136.58 | 140.07 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 8/27/21 – 9/3/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | GA | -31 bps | 1.37% | 1.68% |
| 2 | CO | -26 bps | 1.47% | 1.73% |
| 3 | NC | -15 bps | 1.16% | 1.31% |
| 4 | IL | -7 bps | 2.24% | 2.31% |
| 5 | WA | -4 bps | 2.00% | 2.04% |
| 6 | MI | -4 bps | 1.84% | 1.87% |
| 7 | NH | -4 bps | 1.48% | 1.52% |
| 8 | NE | -3 bps | 1.78% | 1.81% |
| 9 | DE | -3 bps | 1.35% | 1.38% |
| 10 | IA | -3 bps | 1.80% | 1.83% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 8/27/21 – 9/3/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | MA | 41 bps | 2.11% | 1.70% |
| 2 | DC | 35 bps | 1.84% | 1.48% |
| 3 | LA | 31 bps | 1.95% | 1.64% |
| 4 | SC | 31 bps | 1.85% | 1.54% |
| 5 | MN | 31 bps | 1.73% | 1.42% |
| 6 | HI | 30 bps | 2.64% | 2.34% |
| 7 | AL | 24 bps | 2.04% | 1.79% |
| 8 | NV | 22 bps | 2.07% | 1.85% |
| 9 | FL | 20 bps | 1.86% | 1.66% |
| 10 | KS | 16 bps | 1.92% | 1.76% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/27/21 – 9/3/21 (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 8/27/21 – 9/3/21 (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 8/27/21 – 9/3/21 (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 8/27/21 – 9/3/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/27/21 vs. the week ending 9/3/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | POMPANO BEACH -REF | 5.00% | 09/01/50 | 1 | 58 | 57 | 5700% |
| 2 | PUERTO RICO CMWLTH AQ | 5.00% | 07/01/47 | 11 | 67 | 56 | 509% |
| 3 | ENERGY NW ELEC REV | 4.00% | 07/01/42 | 27 | 72 | 45 | 167% |
| 4 | LYNWOOD UNIF SCH DT-E | 3.00% | 08/01/48 | 5 | 46 | 41 | 820% |
| 5 | CALIFORNIA ST HLTH FA | 4.00% | 06/01/50 | 17 | 57 | 40 | 235% |
| 6 | WISCONSIN ST TRANSPRT | 5.00% | 07/01/26 | 13 | 52 | 39 | 300% |
| 7 | SAN ANTONIO EDU FACS | 2.73% | 04/01/31 | 43 | 81 | 38 | 88% |
| 8 | WASHINGTON ST -A | 5.00% | 08/01/35 | 33 | 67 | 34 | 103% |
| 9 | GRAND RAPIDS-TXBL-REF | 1.76% | 01/01/30 | 20 | 51 | 31 | 155% |
| 10 | UNIV OF WASHINGTON-B | 5.00% | 06/01/32 | 17 | 47 | 30 | 176% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/27/21 – 9/3/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/37 | 27 |
| 2 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 26 |
| 3 | BLACK BELT ENERGY GAS | 4.00% | 06/01/51 | 26 |
| 4 | NORFOLK -A | 5.00% | 03/01/33 | 24 |
| 5 | TN ENERGY ACQ CORP-A | 5.00% | 05/01/52 | 24 |
| 6 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 24 |
| 7 | TEXAS ST MUNI PWR AGY | 3.00% | 09/01/46 | 23 |
| 8 | ENERGY NW ELEC REV | 5.00% | 07/01/40 | 23 |
| 9 | NEW JERSEY ST TURNPIK | 4.00% | 01/01/51 | 23 |
| 10 | NYC TRANSITIONAL-S-1A | 4.00% | 07/15/36 | 23 |
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