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Municipal Bond Market Summary:
Week Ending 4/9/20

Our weekly newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.

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Muni Winners/Losers
State Winners/Losers
10 Yr Yld – All
10 Yr Yld – GO
10 Yr Yld – Rev
Sentiment
Top Movers
Most Quoted Munis

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 Yr Yield by State - All

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 Yr Yield by State - Go

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

10 Yr Yield by State - Rev

Sentiment

Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 4/3/20 – 4/9/20

Muni Market Sentiment - Advancers vs. Decliners

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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