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Municipal Bond Market Summary:
Week Ending 5/22/20

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 5/15/20 – 5/22/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 N TX HWY CABS-REF-1ST 0.00% 01/01/34 7.30% 72.36 67.44
2 UNIV OF MN RGTS-A 5.00% 09/01/30 7.10% 128.01 119.53
3 NJ HLTH CARE FACS FIN 5.00% 07/01/39 6.21% 117.38 110.52
4 CLEVELAND ETC PORT 5.50% 12/01/53 6.13% 97.67 92.03
5 UNIV OF TEXAS UNIV-A 3.50% 08/15/50 6.08% 127.23 119.94
6 NJ HLTH CARE-A-REF 5.00% 07/01/43 6.06% 116.64 109.97
7 CHICAGO HEIGHTS 5.23% 12/01/39 5.95% 107.54 101.50
8 NASSAU CNTY-C-REF 5.00% 10/01/26 5.94% 123.16 116.26
9 FORT BEND TX INDEP SC 3.00% 08/15/37 5.54% 109.06 103.34
10 LONG ISLAND PWR AUTH 5.00% 09/01/35 5.52% 121.68 115.31

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 5/15/20 – 5/22/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PARK CREEK MET-A 4.00% 12/01/51 -7.64% 94.25 102.04
2 DASNY-F-UNREFUNDED 3.19% 02/15/43 -5.10% 98.28 103.57
3 S W OH LOCAL SCH DIST 4.00% 01/15/55 -3.92% 112.98 117.59
4 NH TPK TXB-A-BABS 5.48% 11/01/24 -3.23% 115.86 119.73
5 SADDLE RIVER BORO BOE 2.00% 03/01/35 -3.05% 97.76 100.84
6 BROOKHAVEN DEV AUTH-A 5.00% 07/01/34 -2.99% 117.80 121.43
7 CALIFORNIA EDUCTNL-A 5.00% 12/01/37 -2.88% 104.01 107.10
8 CANAVERAL PORT AUTH 5.00% 06/01/25 -2.81% 108.78 111.93
9 ST LANDRY RD DIST #1 3.75% 03/01/28 -2.81% 108.47 111.61
10 WILL HSD#210-CABS-B 0.00% 01/01/28 -2.65% 73.92 75.93

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 5/15/20 – 5/22/20

RANK STATE CHANGE YLD YLD-1W
1 IN -53 bps 2.00% 2.52%
2 DC -51 bps 1.27% 1.77%
3 MS -33 bps 1.70% 2.03%
4 TX -26 bps 1.83% 2.09%
5 NM -25 bps 1.66% 1.91%
6 NY -25 bps 1.92% 2.17%
7 ME -22 bps 1.17% 1.38%
8 HI -20 bps 1.55% 1.75%
9 NV -18 bps 2.05% 2.24%
10 MT -17 bps 1.51% 1.68%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 5/15/20 – 5/22/20

RANK STATE CHANGE YLD YLD-1W
1 MO 31 bps 1.99% 1.68%
2 MD 17 bps 1.61% 1.44%
3 NC 15 bps 1.71% 1.56%
4 GA 9 bps 1.79% 1.70%
5 TN 6 bps 1.78% 1.73%
6 VA 4 bps 1.75% 1.72%
7 SC 3 bps 1.85% 1.82%
8 UT 1 bps 1.54% 1.53%
9 RI 1 bps 1.88% 1.87%
10 KS -1 bps 1.85% 1.87%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 5/15/20 – 5/22/20 (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 5/15/20 – 5/22/20 (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 Only

Displays the average Muni 10 year yield by state between 5/15/20 – 5/22/20 (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 5/15/20 – 5/22/20

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 5/15/20 vs. the week ending 5/22/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 NORTH TEXAS TOLLWAY 4.00% 01/01/37 25 104 79 316%
2 NORTHSIDE ISD 3.00% 06/01/47 3 65 62 2067%
3 FAIRFAX CO-A 5.00% 10/01/36 20 78 58 290%
4 FAIRFAX CO 5.00% 10/01/32 11 60 49 445%
5 NORTHSIDE ISD 4.00% 06/01/36 3 48 45 1500%
6 NEW YORK DORM AUTH-A2 5.00% 10/01/46 5 50 45 900%
7 E. KY UNIVERSITY-A 5.00% 04/01/26 6 50 44 733%
8 WEST VIRGINIA ST-A 5.00% 06/01/41 1 45 44 4400%
9 MIAMIDADE EXPWY-A-REF 5.00% 07/01/33 32 75 43 134%
10 CALIFORNIA ST PUBLIC 5.00% 11/01/37 21 64 43 205%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 5/15/20 – 5/22/20

RANK TRANCHE COUPON MATURITY DEALERS
1 CALIFORNIA ST 3.00% 03/01/46 31
2 LOS ANGELES CA DEPT O 5.00% 07/01/28 31
3 COLUMBUS OH 5.00% 04/01/33 30
4 CALIFORNIA ST 4.00% 03/01/40 29
5 CALIFORNIA ST 5.00% 03/01/33 29
6 MULTNOMAH CO SD #1J 5.00% 06/15/29 29
7 CALIFORNIA ST 3.00% 03/01/50 29
8 HAWAII ST 5.00% 10/01/29 28
9 COLLIN CNTY TX CMNTY 5.00% 08/15/32 27
10 CALIFORNIA ST 4.00% 03/01/38 27

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