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Municipal Bond Market Summary:
Week Ending 5/8/20

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 5/1/20 – 5/8/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 JEFFERSON UHSD-CABS 0.00% 08/01/29 7.59% 83.81 77.90
2 UNIV VT & ST AGRIC 5.00% 10/01/24 6.03% 119.08 112.31
3 SAGINAW VLY UNIV-A 5.00% 07/01/31 6.01% 121.18 114.31
4 DALLAS AREA RAPID-A 5.00% 12/01/33 5.96% 121.71 114.86
5 CO BLDG SCHS-N 5.00% 03/15/33 5.76% 125.09 118.27
6 MASON CO PUB UTIL #3 4.00% 12/01/38 5.21% 115.44 109.72
7 WEEHAWKEN TWP BOE 3.00% 07/15/32 4.94% 103.64 98.76
8 WATERVLIET SCHS 5.00% 05/01/25 4.70% 114.56 109.42
9 BENSALEM TWP SD -A 4.00% 06/01/25 4.68% 113.63 108.55
10 KY ECON DEV FIN-A 5.00% 01/01/45 4.68% 99.49 95.04

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 5/1/20 – 5/8/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 NJ TRN FD CAB-SER -A 0.00% 12/15/32 -7.74% 54.71 59.30
2 CT HLTH & EDU-F-REF 3.50% 07/01/26 -7.35% 90.13 97.28
3 CHICAGO-A 5.00% 01/01/40 -7.16% 91.68 98.75
4 TARRANT CNTY TX CULTU 6.38% 02/15/48 -7.07% 86.80 93.41
5 ALAMEDA CORRIDOR-CABS 0.00% 10/01/33 -6.83% 66.81 71.71
6 CO HLTH FACS AUTH-B 4.00% 11/01/27 -6.74% 90.32 96.85
7 W LINN WILSONVILLE-A 0.00% 06/15/44 -6.69% 48.03 51.47
8 DECATUR CITY BOE 3.04% 02/01/45 -6.08% 94.13 100.22
9 NEW JERSEY ST TRANSPR 5.00% 06/15/30 -5.97% 100.57 106.96
10 WESTCHESTER LOC DEV 5.00% 11/01/46 -5.93% 101.78 108.20

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 5/1/20 – 5/8/20

RANK STATE CHANGE YLD YLD-1W
1 MT -66 bps 1.91% 2.57%
2 AL -54 bps 1.94% 2.48%
3 DC -38 bps 1.82% 2.20%
4 UT -35 bps 1.65% 2.00%
5 OR -34 bps 2.04% 2.38%
6 WI -32 bps 1.75% 2.06%
7 WA -31 bps 1.95% 2.27%
8 AZ -30 bps 1.93% 2.22%
9 IA -29 bps 1.75% 2.05%
10 MN -28 bps 1.84% 2.12%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 5/1/20 – 5/8/20

RANK STATE CHANGE YLD YLD-1W
1 HI 50 bps 2.38% 1.89%
2 IL 26 bps 3.67% 3.41%
3 MI 17 bps 2.64% 2.47%
4 MO 10 bps 2.29% 2.19%
5 NC 7 bps 1.75% 1.68%
6 IN 7 bps 2.65% 2.58%
7 TN 0 bps 1.92% 1.91%
8 OK -4 bps 2.25% 2.28%
9 NV -5 bps 2.52% 2.56%
10 NM -6 bps 1.85% 1.92%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 5/1/20 – 5/8/20 (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 5/1/20 – 5/8/20 (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 5/1/20 – 5/8/20 (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 5/1/20 – 5/8/20

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 5/1/20 vs. the week ending 5/8/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 TX WTR DEV BRD-A 5.00% 10/15/42 17 77 60 353%
2 CALIFORNIA ST 4.00% 03/01/50 44 104 60 136%
3 WELD CO SD RE-2 5.00% 12/01/38 5 59 54 1080%
4 PORT AUTH OF NY -REF 5.00% 07/15/31 13 65 52 400%
5 NEW YORK ST URBAN DEV 4.00% 03/15/43 38 89 51 134%
6 SEATTLE LGHT&PWR-REF 4.00% 09/01/40 1 41 40 4000%
7 CALIFORNIA-REF-GRP C 5.00% 08/01/30 5 45 40 800%
8 FORT BEND TX INDEP SC 5.00% 08/15/26 4 43 39 975%
9 FORT BEND TX INDEP SC 5.00% 08/15/30 11 50 39 355%
10 CYPRESS ETC ISD-REF 5.00% 02/15/31 8 45 37 463%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 5/1/20 – 5/8/20

RANK TRANCHE COUPON MATURITY DEALERS
1 CALIFORNIA ST 4.00% 03/01/40 29
2 MULTNOMAH CO SD #1J 5.00% 06/15/29 29
3 HAWAII ST 5.00% 10/01/29 28
4 NEW JERSEY ST TRANSPR 5.00% 06/15/44 28
5 CALIFORNIA ST 3.00% 03/01/46 27
6 TAMPA ETC EXWY-B-REF 4.00% 07/01/42 27
7 CALIFORNIA ST 5.00% 03/01/33 27
8 COLLIN CNTY TX CMNTY 3.00% 08/15/40 26
9 LOVE FIELD ARPT-SW AI 5.25% 11/01/40 26
10 LOS ANGELES CA DEPT O 5.00% 07/01/28 26

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