Municipals
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Municipal Bond Market Summary:
Week Ending 4/9/20
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 4/3/20 – 4/9/20
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
1 | OHIO ST-A | 5.00% | 04/01/33 | 10.78% | 123.63 | 111.60 |
2 | BROWARD CNTY SCH-B | 5.00% | 07/01/32 | 9.86% | 119.46 | 108.74 |
3 | OCEANSIDE USD-CABS-B | 0.00% | 08/01/38 | 9.33% | 60.75 | 55.56 |
4 | WASHINGTON ST | 0.00% | 06/01/29 | 8.38% | 82.02 | 75.68 |
5 | ALDINE ISD-BLDG | 5.00% | 02/15/27 | 8.10% | 122.45 | 113.28 |
6 | BOULDER VLY SD #RE2-A | 5.25% | 12/01/29 | 7.97% | 124.61 | 115.41 |
7 | JEFFERSON SALES TAX-A | 5.00% | 12/01/26 | 7.72% | 118.86 | 110.34 |
8 | SAN JACINTO CA UNIF | 3.13% | 09/01/34 | 7.40% | 102.91 | 95.82 |
9 | VA ST CLG-B | 4.00% | 02/01/32 | 7.31% | 114.60 | 106.79 |
10 | RIO ELEM SD-C-CABS | 0.00% | 08/01/39 | 7.21% | 51.21 | 47.76 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 4/3/20 – 4/9/20
RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
1 | MET PIER-B-CABS | 0.00% | 12/15/41 | -44.27% | 31.22 | 56.02 |
2 | DIST OF COLUMBIA REV | 4.00% | 07/01/39 | -20.20% | 92.15 | 115.47 |
3 | PR HWY/TRN-N-REF | 5.25% | 07/01/30 | -9.37% | 97.28 | 107.34 |
4 | WA ETC SD #88J-A | 0.00% | 06/15/46 | -8.92% | 35.69 | 39.19 |
5 | MICHIGAN ST FIN AUTH | 3.08% | 12/01/34 | -8.04% | 102.09 | 111.01 |
6 | PA TPK COMM-A-1 | 5.00% | 12/01/46 | -7.97% | 110.92 | 120.52 |
7 | WARD CO HLTHCR-C | 5.00% | 06/01/34 | -7.78% | 106.85 | 115.87 |
8 | IDAHO HLTH FACS AUTH | 5.00% | 12/01/46 | -7.42% | 112.78 | 121.82 |
9 | DALLAS TX AREA RAPID | 5.00% | 12/01/28 | -6.85% | 123.78 | 132.88 |
10 | WI HEALTH & EDUCATION | 4.00% | 04/01/39 | -6.81% | 106.01 | 113.76 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 4/3/20 – 4/9/20
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | VA | -54 bps | 1.69% | 2.22% |
2 | WV | -45 bps | 1.93% | 2.38% |
3 | ME | -40 bps | 1.81% | 2.21% |
4 | KS | -40 bps | 2.52% | 2.92% |
5 | NY | -39 bps | 2.38% | 2.77% |
6 | MD | -37 bps | 1.88% | 2.25% |
7 | UT | -35 bps | 1.84% | 2.20% |
8 | LA | -33 bps | 2.11% | 2.44% |
9 | AL | -33 bps | 2.01% | 2.34% |
10 | MA | -32 bps | 1.87% | 2.19% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 4/3/20 – 4/9/20
RANK | STATE | CHANGE | YLD | YLD-1W |
1 | MO | 30 bps | 2.23% | 1.93% |
2 | MT | 7 bps | 2.00% | 1.93% |
3 | NE | -3 bps | 2.15% | 2.18% |
4 | OH | -8 bps | 2.76% | 2.84% |
5 | IL | -10 bps | 3.43% | 3.52% |
6 | NV | -10 bps | 2.47% | 2.57% |
7 | CT | -16 bps | 2.55% | 2.70% |
8 | SC | -17 bps | 2.16% | 2.33% |
9 | IN | -17 bps | 2.45% | 2.62% |
10 | IA | -17 bps | 1.88% | 2.05% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 4/3/20 – 4/9/20 (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 4/3/20 – 4/9/20 (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
Displays the average Muni 10 year yield by state between 4/3/20 – 4/9/20 (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 4/3/20 – 4/9/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 4/3/20 vs. the week ending 4/9/20
RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
1 | HARRIS CNTY TX | 5.00% | 10/01/21 | 15 | 78 | 63 | 420% |
2 | WASHINGTON ST-2020A | 5.00% | 08/01/25 | 15 | 69 | 54 | 360% |
3 | MORENO VY USD-B | 5.00% | 08/01/47 | 1 | 54 | 53 | 5300% |
4 | ILLINOIS ST | 5.00% | 06/01/21 | 8 | 60 | 52 | 650% |
5 | MASSACHUSETTS-A | 5.00% | 01/01/33 | 14 | 65 | 51 | 364% |
6 | RANCHO MIRAGE-A | 5.00% | 04/01/21 | 1 | 49 | 48 | 4800% |
7 | SALT RIVER AZ PROJ AG | 5.00% | 01/01/30 | 86 | 130 | 44 | 51% |
8 | TEXAS ST-TRANS | 4.00% | 08/27/20 | 102 | 146 | 44 | 43% |
9 | HONOLULU-B-REF | 5.00% | 07/01/39 | 15 | 58 | 43 | 287% |
10 | NEW YORK ST ENVRNMNTL | 4.00% | 06/15/46 | 70 | 113 | 43 | 61% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 4/3/20 – 4/9/20
RANK | TRANCHE | COUPON | MATURITY | DEALERS |
1 | UTAH ST | 5.00% | 07/01/26 | 30 |
2 | TEXAS ST-TRANS | 4.00% | 08/27/20 | 29 |
3 | SALT RIVER AZ PROJ AG | 5.00% | 01/01/30 | 26 |
4 | NORTH CAROLINA ST-B | 5.00% | 05/01/28 | 25 |
5 | CA DEPT WTR RESOURCES | 5.00% | 05/01/22 | 23 |
6 | NEW YORK ST ENVRNMNTL | 4.00% | 06/15/46 | 22 |
7 | CALIFORNIA ST-REF | 5.00% | 04/01/25 | 22 |
8 | KELLER TX ISD | 4.00% | 02/15/47 | 21 |
9 | MN PUB FACS AUTH-A | 5.00% | 03/01/28 | 21 |
10 | OHIO ST-V-HWY CAPTL | 5.00% | 05/01/29 | 21 |
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