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Municipal Bond Market Summary:
Week Ending 4/24/20

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 4/17/20 – 4/24/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 NYC IDA YANKEE STADI 0.00% 03/01/44 14.18% 45.31 39.68
2 ROSEVILLE CA JT UNHSD 0.00% 08/01/42 10.84% 53.90 48.63
3 ALAMEDA USD-B-ELECTIO 0.00% 08/01/33 9.95% 70.21 63.86
4 CHULA VISTA CA ESD 2.50% 09/01/45 7.53% 97.65 90.81
5 FRISCO ISD-REF-CABS 0.00% 08/15/34 7.52% 69.33 64.48
6 MARICOPA SD #2-D 5.00% 07/01/23 7.39% 112.32 104.59
7 TX TECH UNIV REV-A 2.90% 02/15/27 7.25% 104.95 97.85
8 NORTHVILLE SCHS-II 5.00% 05/01/27 7.25% 123.08 114.76
9 RIDGEWOOD VLG 3.00% 08/01/26 7.23% 110.74 103.27
10 OHIO ST-A-GEN RECPTS 4.00% 06/01/43 7.23% 106.16 99.00

Top 10 Losers

Showcases the top 10 Muni Bond “States” based on price movements between 4/17/20 – 4/24/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CAPITAL TRST AGY-A 6.75% 10/01/37 -13.51% 77.52 89.64
2 LOUISIANA ST LOCAL GO 3.50% 11/01/32 -10.32% 98.50 109.84
3 PR INFRA-CABS-A 0.00% 07/01/29 -7.39% 62.78 67.79
4 LAS VEGAS NEW CONV-B 5.00% 07/01/26 -6.69% 111.36 119.34
5 CALIFORNIA ST EDUCTNL 5.00% 10/01/43 -6.65% 113.18 121.25
6 SHELBY CNTY TN HLTH E 5.00% 05/01/29 -6.32% 113.11 120.74
7 NEW YORK ST DORM AUTH 4.00% 07/01/43 -6.23% 102.55 109.36
8 CT ARPT AUTH-B-AGM 3.98% 07/01/33 -6.05% 104.33 111.05
9 LAS VEGAS CONSV-REF 4.00% 07/01/33 -5.89% 103.82 110.32
10 MET TRANSPRTN AUTH NY 5.00% 11/15/30 -5.83% 106.81 113.42

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 4/17/20 – 4/24/20

RANK STATE CHANGE YLD YLD-1W
1 KS -21 bps 1.98% 2.19%
2 NC -4 bps 1.55% 1.59%
3 IN -3 bps 2.40% 2.43%
4 VA -3 bps 1.99% 2.02%
5 IA -2 bps 1.76% 1.78%
6 NJ -1 bps 2.05% 2.06%
7 ME 2 bps 1.61% 1.59%
8 IL 7 bps 3.21% 3.14%
9 FL 10 bps 2.12% 2.03%
10 MD 10 bps 1.63% 1.53%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 4/17/20 – 4/24/20

RANK STATE CHANGE YLD YLD-1W
1 MS 58 bps 2.33% 1.76%
2 MN 53 bps 2.03% 1.51%
3 OK 47 bps 2.17% 1.70%
4 AL 42 bps 2.23% 1.81%
5 OH 38 bps 2.75% 2.36%
6 SC 37 bps 2.08% 1.71%
7 HI 35 bps 2.42% 2.06%
8 CO 35 bps 2.06% 1.70%
9 OR 34 bps 2.21% 1.87%
10 LA 32 bps 2.44% 2.12%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 4/17/20 – 4/24/20 (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 - All

10 Year Yield by State – GO Only

Displays the average Muni 10 year yield by state between 4/17/20 – 4/24/20 (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 - Go

10 Year Yield by State – Rev

Displays the average Muni 10 year yield by state between 4/17/20 – 4/24/20 (Revenue 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

Sentiment

Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 4/17/20 – 4/24/20

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 4/17/20 vs. the week ending 4/24/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 HAWAII ST 5.00% 10/01/29 10 107 97 970%
2 CA MUNI FIN AUTH-A 5.00% 06/01/42 14 73 59 421%
3 CLARK CO-PARKS IMPT 5.00% 12/01/27 18 70 52 289%
4 OHIO ST-A 5.00% 02/01/35 9 60 51 567%
5 FAIRFAX CO 4.50% 10/01/27 5 56 51 1020%
6 FLEMINGTON RARITAN NJ 2.25% 09/01/30 21 70 49 233%
7 CALIFORNIA ST-REF 5.00% 04/01/31 13 62 49 377%
8 MIAMI BEACH W/S-REF 5.00% 09/01/47 25 73 48 192%
9 MET TRANSPRTN AUTH NY 5.00% 11/15/31 52 100 48 92%
10 ELK GROVE USD 4.00% 08/01/46 10 57 47 470%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 4/17/20 – 4/24/20

RANK TRANCHE COUPON MATURITY DEALERS
1 UTAH ST 5.00% 07/01/26 29
2 HAWAII ST 5.00% 10/01/29 28
3 TEXAS ST-TRANS 4.00% 08/27/20 28
4 MULTNOMAH CO SD #1J 5.00% 06/15/29 27
5 COLLIN CNTY TX CMNTY 3.00% 08/15/40 26
6 LOVE FIELD ARPT-SW AI 5.25% 11/01/40 25
7 LAS VEGAS VLY WTR-A 5.00% 06/01/46 25
8 CALIFORNIA ST 5.00% 03/01/33 23
9 COLUMBUS OH 5.00% 04/01/33 23
10 CA DEPT WTR RESOURCES 5.00% 05/01/22 22

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