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Municipal Bond Market Summary:
Week Ending 6/5/20

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 5/29/20 – 6/5/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 ALAMEDA ETC CAB-AGM 0.00% 10/01/31 9.26% 73.22 67.01
2 SAN YSIDRO SD-F-CABS 0.00% 08/01/41 7.64% 52.78 49.04
3 MET TRAN AUTH-C1-REF 3.13% 11/15/28 7.56% 98.97 92.01
4 OR FACS AUTH-A-REF 5.00% 06/01/25 7.12% 119.07 111.16
5 HARRIS CO MET TRANS 5.00% 11/01/32 7.07% 128.97 120.45
6 RALEIGH DURHAM NC-A 5.00% 05/01/33 7.03% 125.39 117.16
7 LOS ANGELES DEPT ARPT 5.00% 05/15/48 6.99% 122.10 114.12
8 MIAMI-DADE CNTY FL 5.00% 07/01/40 6.87% 128.70 120.43
9 MISSOURI ST HLTH & ED 5.00% 06/01/29 6.73% 124.26 116.42
10 JACKSONVILLE FL SPL R 5.00% 10/01/28 6.68% 122.63 114.95

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 5/29/20 – 6/5/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CAPE CORAL HLTH FACS 5.40% 07/01/32 -6.03% 76.92 81.85
2 PRINCE WILLIAM CO-B 1.82% 08/01/32 -5.03% 99.72 105.00
3 FLORIDA ST ATLANTIC U 5.00% 07/01/28 -4.89% 119.29 125.41
4 SAN FRANCISCO UTILS-B 6.00% 11/01/40 -4.56% 132.94 139.29
5 DASNY-B-TXBL-REF-REV 2.77% 07/01/43 -3.64% 94.94 98.52
6 HAMPTON 5.86% 11/01/39 -3.38% 133.99 138.68
7 MA CONS LN-BABS 5.46% 12/01/39 -3.16% 133.08 137.42
8 BROWARD CO FL PORT-A 5.00% 09/01/37 -3.15% 117.37 121.19
9 SAN DIEGO CO REGL ARP 5.00% 07/01/27 -3.13% 120.44 124.34
10 CA MUNI FIN AUTH 2.61% 12/01/35 -3.09% 98.39 101.53

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 5/29/20 – 6/5/20

RANK STATE CHANGE YLD YLD-1W
1 IL -32 bps 2.96% 3.28%
2 GA -30 bps 1.45% 1.75%
3 IA -18 bps 1.38% 1.56%
4 MD -17 bps 1.38% 1.55%
5 FL -16 bps 1.52% 1.68%
6 MS -15 bps 1.80% 1.95%
7 MN -15 bps 1.69% 1.83%
8 NM -13 bps 1.56% 1.70%
9 CT -13 bps 2.04% 2.17%
10 OK -12 bps 2.05% 2.17%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 5/29/20 – 6/5/20

RANK STATE CHANGE YLD YLD-1W
1 TN 34 bps 1.85% 1.51%
2 KS 32 bps 1.81% 1.49%
3 NV 23 bps 2.20% 1.97%
4 WI 22 bps 1.74% 1.52%
5 CO 20 bps 1.89% 1.70%
6 RI 19 bps 2.01% 1.82%
7 SC 17 bps 1.85% 1.68%
8 LA 17 bps 1.89% 1.72%
9 HI 10 bps 1.76% 1.66%
10 NJ 8 bps 1.92% 1.84%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 5/29/20 – 6/5/20 (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 5/29/20 – 6/5/20 (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 5/29/20 – 6/5/20 (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 5/29/20 – 6/5/20

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 5/29/20 vs. the week ending 6/5/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BUCKEYE OH TOBACCO-B3 0.00% 06/01/57 37 94 57 154%
2 GRAND RAPIDS PUB SCHS 5.00% 11/01/41 8 59 51 638%
3 MASSACHUSETTS ST 5.00% 01/01/49 2 52 50 2500%
4 CALIFORNIA 3.00% 10/01/34 32 80 48 150%
5 HUDSONVILLE MI PUB SC 4.00% 05/01/41 9 56 47 522%
6 PASCO CNTY FL -B 5.00% 10/01/48 9 56 47 522%
7 NYC TRANSITIONAL FIN 4.00% 05/01/40 89 136 47 53%
8 MASSACHUSETTS ST DEV 5.00% 10/15/30 76 122 46 61%
9 NY ST DORM AUTH-A 5.00% 07/01/35 5 51 46 920%
10 GEORGIA ST-A 5.00% 07/01/23 5 51 46 920%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 5/29/20 – 6/5/20

RANK TRANCHE COUPON MATURITY DEALERS
1 CA UNIV REVENUE-A-REF 5.00% 11/01/47 33
2 ILLINOIS ST 5.75% 05/01/45 32
3 NYC TRANSITIONAL FIN 4.00% 05/01/40 30
4 TX WTR DEV 3.00% 08/01/40 30
5 TAMPA ETC EXWY-B-REF 4.00% 07/01/42 29
6 CALIFORNIA ST 3.00% 03/01/46 29
7 NEW YORK ST PWR AUTH 3.25% 11/15/60 29
8 NYC TRANSITIONAL FIN 4.00% 05/01/45 28
9 MASSACHUSETTS ST DEV 5.00% 10/15/29 27
10 CALIFORNIA ST 4.00% 03/01/37 27

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