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Municipal Bond Market Summary:
Week Ending 6/12/20

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 6/5/20 – 6/12/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR ELEC PWR-XX 4.75% 07/01/26 8.73% 61.98 57.00
2 NEW HOPE CULT EDU-A 7.25% 12/01/53 7.43% 91.30 84.99
3 TARRANT CNTY TX CULTU 6.38% 02/15/48 6.50% 92.39 86.75
4 MIAMI-DADE CNTY FL AV 4.28% 10/01/41 5.82% 106.66 100.79
5 MASSACHUSETTS ST DEV 5.00% 01/01/26 5.60% 114.96 108.87
6 NEW YORK NY 5.00% 08/01/26 5.35% 124.84 118.50
7 IA FIN AUTH-B-REF 5.00% 02/15/26 5.29% 118.04 112.11
8 AR DEV FIN AUTH -HOSP 4.00% 02/01/42 5.17% 112.46 106.93
9 BOSSIER PARISH SD 3.00% 03/01/36 5.13% 107.04 101.81
10 MOUNT OLIVE TWP NJ BR 5.00% 07/15/27 4.82% 123.40 117.73

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 6/5/20 – 6/12/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 MIAMI-DADE TRANSIT 5.00% 07/01/31 -3.42% 128.05 132.59
2 HARRIS CN HOUSTON-A 5.00% 11/15/30 -3.34% 106.05 109.71
3 CALIFORNIA ST MUNI FI 5.00% 05/15/37 -2.50% 110.65 113.49
4 LEE CNTY FL TOUR DEV 5.00% 10/01/29 -2.45% 125.42 128.57
5 PHOENIXVILLE ASD-A 1.99% 11/15/26 -2.41% 105.17 107.77
6 WA ST CONVENTION-BABS 6.79% 07/01/40 -2.22% 113.80 116.38
7 MS DEV BK-REF-MARSHAL 5.00% 01/01/27 -1.80% 115.14 117.25
8 REGL TRANN SER A 5.75% 06/01/34 -1.62% 138.55 140.83
9 NEW YORK CITY NY-A-2 5.00% 08/01/34 -1.61% 120.70 122.67
10 CHICAGO ARPT-A-REF 5.00% 01/01/29 -1.58% 113.87 115.70

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 6/5/20 – 6/12/20

RANK STATE CHANGE YLD YLD-1W
1 MO -47 bps 1.48% 1.96%
2 OH -37 bps 1.90% 2.28%
3 MA -28 bps 1.49% 1.77%
4 SC -23 bps 1.61% 1.84%
5 IN -22 bps 1.73% 1.95%
6 MS -21 bps 1.58% 1.80%
7 KS -21 bps 1.60% 1.81%
8 NC -20 bps 1.41% 1.61%
9 NV -18 bps 2.02% 2.20%
10 TN -17 bps 1.71% 1.88%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 6/5/20 – 6/12/20

RANK STATE CHANGE YLD YLD-1W
1 MN 24 bps 1.87% 1.63%
2 RI 17 bps 2.18% 2.01%
3 MD 14 bps 1.52% 1.38%
4 AL 12 bps 1.64% 1.52%
5 VA 11 bps 1.31% 1.20%
6 FL 8 bps 1.61% 1.53%
7 UT 5 bps 1.36% 1.31%
8 NM 3 bps 1.60% 1.56%
9 IA 1 bps 1.39% 1.38%
10 WA 0 bps 1.79% 1.79%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 6/5/20 – 6/12/20 (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 6/5/20 – 6/12/20 (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 6/5/20 – 6/12/20 (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 6/5/20 – 6/12/20

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 6/5/20 vs. the week ending 6/12/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MET TRAN AUTH-C1-REF 5.25% 11/15/28 6 69 63 1050%
2 OSCEOLA EXPRESSWAY-A 5.38% 10/01/47 12 67 55 458%
3 IL FIN AUTH-REF 5.00% 02/15/37 12 64 52 433%
4 NEW JERSEY ST EDUCTNL 5.00% 07/01/25 2 54 52 2600%
5 KYLE-CTFS OF OBLIG 5.00% 08/15/31 7 59 52 743%
6 CLARK CO 3.00% 06/01/39 9 60 51 567%
7 FREDERICK EDL-A-REF 5.00% 09/01/45 24 75 51 213%
8 NEW JERSEY ST ECON DE 5.00% 10/01/47 15 65 50 333%
9 UTAH ST 5.00% 07/01/29 35 84 49 140%
10 NEW HAVEN-A 5.50% 08/01/38 12 60 48 400%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 6/5/20 – 6/12/20

RANK TRANCHE COUPON MATURITY DEALERS
1 NYC TRANSITIONAL FIN 4.00% 05/01/40 34
2 CA UNIV REVENUE-A-REF 5.00% 11/01/47 33
3 NEW YORK CITY NY MUNI 4.00% 06/15/41 33
4 NYC TRANSITIONAL FIN 4.00% 05/01/45 31
5 TX WTR DEV 3.00% 08/01/40 30
6 NEW YORK ST PWR AUTH 3.25% 11/15/60 29
7 CLEVELAND ISD 4.00% 02/15/52 27
8 MASSACHUSETTS ST DEV 5.00% 10/15/30 27
9 MET TRANSPRTN AUTH-A- 4.00% 02/01/22 27
10 ENERGY NW-A-REF 4.00% 07/01/39 26

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