Municipals
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Municipal Bond Market Summary:
Week Ending 4/17/20
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 4/9/20 – 4/17/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | PORT OF SEATTLE WA RE | 5.00% | 04/01/44 | 14.85% | 114.74 | 99.91 |
| 2 | MASSACHUSETTS ST-D | 4.00% | 05/01/39 | 12.62% | 114.96 | 102.08 |
| 3 | WASHINGTON SUBURBAN | 5.00% | 06/01/27 | 10.88% | 126.36 | 113.96 |
| 4 | UNIV SYS OF MARYLAND | 5.00% | 04/01/27 | 9.57% | 120.88 | 110.32 |
| 5 | BUNCOMBE CO -A-REV | 5.00% | 06/01/29 | 9.37% | 119.70 | 109.45 |
| 6 | KENTUCKY MUNI PWR AGY | 5.00% | 09/01/24 | 9.25% | 112.93 | 103.36 |
| 7 | ERIE CO DEV AGY-A-REF | 5.00% | 05/01/27 | 8.83% | 117.40 | 107.87 |
| 8 | LONE STAR CLG-REF-B | 5.00% | 02/15/25 | 8.72% | 116.62 | 107.26 |
| 9 | SYRACUSE INDL DEV AGY | 4.00% | 05/01/33 | 8.38% | 115.51 | 106.58 |
| 10 | DAUPHIN CO GEN AUTH | 5.00% | 10/15/34 | 7.96% | 95.15 | 88.13 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 4/9/20 – 4/17/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | VINELAND NJ-TXBL-REF | 3.11% | 04/15/28 | -6.66% | 105.57 | 113.10 |
| 2 | DASNY -REV – F | 2.96% | 02/15/32 | -6.35% | 102.27 | 109.20 |
| 3 | MET TRANSPRTN-A-1 | 5.25% | 11/15/39 | -6.15% | 103.76 | 110.56 |
| 4 | WASHINGTON ST CONVENT | 5.00% | 07/01/58 | -6.06% | 114.85 | 122.27 |
| 5 | NYC TRANS FIN-A-E-1 | 5.00% | 02/01/40 | -5.77% | 116.58 | 123.72 |
| 6 | LA DEPT WTR/PWR-BABS | 6.60% | 07/01/50 | -5.76% | 168.73 | 179.05 |
| 7 | UNIV OK REVENUES | 2.46% | 07/01/34 | -5.69% | 99.13 | 105.11 |
| 8 | NEW YORK CITY NY TRAN | 4.00% | 11/01/43 | -5.53% | 112.49 | 119.07 |
| 9 | MET TRANSP AUTH-D-1 | 5.00% | 11/15/33 | -5.50% | 106.40 | 112.59 |
| 10 | SANTA ANA USD-REF | 5.00% | 08/01/30 | -5.37% | 126.53 | 133.71 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 4/9/20 – 4/17/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | WI | -47 bps | 1.75% | 2.22% |
| 2 | MN | -41 bps | 1.47% | 1.89% |
| 3 | SC | -40 bps | 1.74% | 2.14% |
| 4 | OH | -40 bps | 2.36% | 2.76% |
| 5 | IL | -36 bps | 3.18% | 3.54% |
| 6 | NV | -33 bps | 2.17% | 2.50% |
| 7 | KS | -31 bps | 2.19% | 2.50% |
| 8 | MS | -30 bps | 1.79% | 2.09% |
| 9 | UT | -28 bps | 1.59% | 1.87% |
| 10 | FL | -28 bps | 2.03% | 2.30% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 4/9/20 – 4/17/20
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | VA | 30 bps | 2.02% | 1.72% |
| 2 | MA | 16 bps | 2.03% | 1.87% |
| 3 | DC | 11 bps | 1.88% | 1.77% |
| 4 | LA | 2 bps | 2.12% | 2.10% |
| 5 | IN | -2 bps | 2.43% | 2.45% |
| 6 | NY | -3 bps | 2.36% | 2.38% |
| 7 | TN | -4 bps | 1.57% | 1.61% |
| 8 | CO | -10 bps | 1.73% | 1.83% |
| 9 | PA | -11 bps | 2.20% | 2.31% |
| 10 | MO | -12 bps | 2.10% | 2.21% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 4/9/20 – 4/17/20 (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 4/9/20 – 4/17/20 (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 4/9/20 – 4/17/20 (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 4/9/20 – 4/17/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 4/9/20 vs. the week ending 4/17/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | COLLIN CNTY TX CMNTY | 3.00% | 08/15/40 | 15 | 107 | 92 | 613% |
| 2 | COLLIN CNTY TX CMNTY | 3.00% | 08/15/39 | 3 | 66 | 63 | 2100% |
| 3 | LAS VEGAS VLY WTR-A | 5.00% | 06/01/46 | 30 | 90 | 60 | 200% |
| 4 | CA INFRA & ECON A-1 | 4.00% | 04/01/27 | 4 | 58 | 54 | 1350% |
| 5 | LOVE FIELD ARPT-SW AI | 5.25% | 11/01/40 | 75 | 123 | 48 | 64% |
| 6 | UNIV OF CALIFORNIA-AY | 5.00% | 05/15/36 | 33 | 78 | 45 | 136% |
| 7 | PORTLAND-A-REF | 5.00% | 03/01/30 | 10 | 53 | 43 | 430% |
| 8 | GEORGIA ST-A | 5.00% | 07/01/27 | 17 | 59 | 42 | 247% |
| 9 | OHIO-A | 5.00% | 03/01/28 | 15 | 56 | 41 | 273% |
| 10 | ENERGY NW ELEC REV-A | 5.00% | 07/01/36 | 15 | 56 | 41 | 273% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 4/9/20 – 4/17/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | UTAH ST | 5.00% | 07/01/26 | 30 |
| 2 | TEXAS ST-TRANS | 4.00% | 08/27/20 | 28 |
| 3 | LOVE FIELD ARPT-SW AI | 5.25% | 11/01/40 | 25 |
| 4 | NORTH CAROLINA ST-B | 5.00% | 05/01/28 | 25 |
| 5 | COLLIN CNTY TX CMNTY | 3.00% | 08/15/40 | 25 |
| 6 | CA DEPT WTR RESOURCES | 5.00% | 05/01/22 | 23 |
| 7 | LAS VEGAS VLY WTR-A | 5.00% | 06/01/46 | 23 |
| 8 | CALIFORNIA ST-REF | 5.00% | 04/01/25 | 22 |
| 9 | SALT RIVER AZ PROJ AG | 5.00% | 01/01/30 | 22 |
| 10 | NEW YORK ST ENVRNMNTL | 4.00% | 06/15/46 | 22 |
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