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Municipal Bond Market Summary:
Week Ending 6/19/20

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 6/12/20 – 6/19/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CALIFORNIA ST HLTH FA 2.00% 10/01/36 7.67% 102.51 95.21
2 CO EDU & CULT FACS 3.75% 07/01/26 6.90% 99.50 93.08
3 IOWA ST FIN AUTH REVE 5.00% 05/15/43 6.61% 99.70 93.52
4 MET TRANS AUTH REV-C 5.00% 11/15/32 5.85% 110.53 104.43
5 CALIFORNIA STWD CMNTY 5.00% 08/01/32 5.85% 123.03 116.24
6 MARICOPA IDA 5.00% 07/01/47 5.13% 102.50 97.50
7 STHRN MN PWR CAB -A 0.00% 01/01/27 5.04% 92.07 87.65
8 CONNECTICUT-A 3.25% 03/15/30 4.97% 106.41 101.37
9 MICHIGAN ST FIN AUTH 5.00% 12/01/39 4.79% 124.36 118.67
10 MTA TRANS AUTH-B2 5.00% 11/15/22 4.69% 107.39 102.58

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 6/12/20 – 6/19/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 HARRIS CN HOUSTON-A 5.00% 11/15/30 -3.15% 102.70 106.05
2 S JERSEY PORT-B-AMT 5.00% 01/01/31 -2.70% 108.93 111.96
3 CALI STWD CMNTY 5.00% 11/01/37 -2.49% 101.17 103.75
4 TROY NY CAPITAL RESO 4.00% 09/01/40 -2.22% 108.65 111.12
5 MASSACHUSETTS DEV FIN 5.00% 10/01/22 -2.22% 101.06 103.35
6 TOMS RIVER 2.00% 06/15/31 -2.20% 102.91 105.22
7 COMPTON UNIF SD-B 0.00% 06/01/41 -1.79% 56.28 57.30
8 SUFFOLK CO WTR AUTH – 2.08% 06/01/37 -1.77% 99.43 101.22
9 BRIGHTON AREA SCHS 3.00% 05/01/37 -1.59% 107.20 108.93
10 ORANGE CNTY-REF 5.00% 10/01/23 -1.55% 110.84 112.59

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 6/12/20 – 6/19/20

RANK STATE CHANGE YLD YLD-1W
1 MN -26 bps 1.61% 1.87%
2 LA -24 bps 1.72% 1.96%
3 VA -13 bps 1.18% 1.31%
4 TN -12 bps 1.60% 1.72%
5 OK -11 bps 1.80% 1.90%
6 IL -9 bps 2.79% 2.88%
7 DC -9 bps 1.40% 1.49%
8 MT -7 bps 1.42% 1.49%
9 MD -7 bps 1.45% 1.52%
10 GA -7 bps 1.21% 1.28%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 6/12/20 – 6/19/20

RANK STATE CHANGE YLD YLD-1W
1 AR 59 bps 2.39% 1.80%
2 MO 51 bps 1.97% 1.45%
3 KS 44 bps 2.03% 1.59%
4 MS 31 bps 1.91% 1.59%
5 AL 24 bps 1.89% 1.65%
6 NY 18 bps 1.86% 1.69%
7 MA 17 bps 1.63% 1.47%
8 CO 14 bps 1.89% 1.75%
9 SC 13 bps 1.71% 1.58%
10 KY 12 bps 1.86% 1.74%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 6/12/20 – 6/19/20 (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 6/12/20 – 6/19/20 (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 – Rev Only

Displays the average Muni 10 year yield by state between 6/12/20 – 6/19/20 (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 6/12/20 – 6/19/20

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 6/12/20 vs. the week ending 6/19/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CONNECTICUT-A 5.00% 08/01/35 10 65 55 550%
2 CALIFORNIA ST 5.00% 03/01/31 92 140 48 52%
3 MASSACHUSETTS ST-C 5.00% 05/01/46 6 54 48 800%
4 MESQUITE ISD-A 4.00% 08/15/39 9 56 47 522%
5 SAN MATEO FOSTER CITY 4.00% 05/01/45 21 67 46 219%
6 NJ EDU FACS AUTH-B 5.00% 07/01/27 13 58 45 346%
7 FRISCO TX INDEP SCH D 5.00% 08/15/36 20 64 44 220%
8 MESQUITE ISD-A 4.00% 08/15/40 9 51 42 467%
9 NYC TRANS FIN AUTH-S2 5.00% 07/15/34 4 46 42 1050%
10 MASSACHUSETTS ST-G 5.00% 09/01/30 58 100 42 72%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 6/12/20 – 6/19/20

RANK TRANCHE COUPON MATURITY DEALERS
1 NYC TRANSITIONAL FIN 4.00% 05/01/40 38
2 NEW YORK CITY NY MUNI 4.00% 06/15/41 36
3 CA UNIV REVENUE-A-REF 5.00% 11/01/47 32
4 TX WTR DEV 3.00% 08/01/40 31
5 NYC TRANSITIONAL FIN 4.00% 05/01/45 31
6 CLEVELAND ISD 4.00% 02/15/52 30
7 TRIBOROUGH BRIDGE & T 4.00% 11/15/54 28
8 CALIFORNIA ST 5.00% 03/01/31 28
9 PRIVATE CLGS & UNIV-B 4.00% 09/01/41 27
10 ROCKWALL CO-REF 4.00% 02/01/45 26

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