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Municipal Bond Market Summary:
Week Ending 6/26/20

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 6/19/20 – 6/26/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CA ED FACS-A 0.00% 10/01/34 10.60% 73.57 66.51
2 LAS VEGAS CONVENTION 5.00% 07/01/35 8.56% 118.96 109.58
3 EVANSVILLE BLDG-CABS 0.00% 07/15/30 5.70% 83.89 79.37
4 IL FIN AUTH-A-REF 5.00% 07/15/29 5.01% 127.84 121.74
5 COOK REGL TRANS AUTH 4.00% 06/01/46 4.53% 108.80 104.08
6 PENNSYLVANIA ST UNIV 1.78% 09/01/25 4.53% 103.38 98.90
7 CT HLTH & ED FACS-A1 5.00% 10/01/54 4.13% 100.00 96.04
8 SAN JOSE ARPT-C-REF 5.00% 03/01/31 3.82% 113.31 109.15
9 PUB FIN AUTH-A 4.63% 06/01/36 3.65% 102.64 99.03
10 METRO TRANSP AUTH-A2 5.00% 11/15/21 3.38% 104.69 101.26

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 6/19/20 – 6/26/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 MASSACHUSETTS DEV FIN 5.00% 10/01/48 -3.94% 98.50 102.54
2 CLG SEQUOIAS 2-B-CABS 0.00% 08/01/37 -2.92% 69.09 71.18
3 OH TPK COMMN-CABS-A2 0.00% 02/15/36 -2.55% 68.45 70.25
4 BOONE CNTY KY SCH DIS 3.50% 08/01/35 -2.08% 106.74 109.01
5 CONNEAUT SD -B CABS 0.00% 11/01/33 -1.86% 78.16 79.64
6 CARTERET REDEV-C-TXBL 4.85% 12/01/40 -1.82% 104.84 106.79
7 ST LOUIS-REF 5.00% 02/15/28 -1.59% 117.73 119.63
8 BEXAR CNTY TX REV-REF 5.00% 08/15/27 -1.44% 123.52 125.32
9 CA SCH FIN AUTH-A 4.13% 07/01/35 -1.41% 102.21 103.68
10 ARIZONA HLTH-A 3.75% 01/01/39 -1.35% 102.84 104.25

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 6/19/20 – 6/26/20

RANK STATE CHANGE YLD YLD-1W
1 AL -47 bps 1.50% 1.96%
2 CT -18 bps 1.87% 2.05%
3 NV -16 bps 1.93% 2.10%
4 SC -16 bps 1.50% 1.66%
5 PA -16 bps 1.86% 2.02%
6 UT -15 bps 1.19% 1.34%
7 LA -13 bps 1.59% 1.72%
8 ID -12 bps 1.23% 1.36%
9 NJ -11 bps 1.67% 1.79%
10 FL -11 bps 1.55% 1.67%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 6/19/20 – 6/26/20

RANK STATE CHANGE YLD YLD-1W
1 VA 18 bps 1.36% 1.18%
2 IA 12 bps 1.52% 1.40%
3 MO 12 bps 2.08% 1.97%
4 HI 11 bps 1.56% 1.45%
5 KY 10 bps 1.96% 1.86%
6 OR 9 bps 1.89% 1.79%
7 NE 9 bps 1.55% 1.46%
8 MD 8 bps 1.53% 1.45%
9 OH 8 bps 2.04% 1.96%
10 ME 7 bps 1.25% 1.18%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 6/19/20 – 6/26/20 (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 Year Yield by State – GO Only

Displays the average Muni 10 year yield by state between 6/19/20 – 6/26/20 (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 6/19/20 – 6/26/20 (Revenue Bonds only)

Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories

Sentiment

Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 6/19/20 – 6/26/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 6/19/20 vs. the week ending 6/26/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 DENVER SCHS-REF-B-TXB 7.02% 12/15/37 5 70 65 1300%
2 MET TRANS AUTH-C1-REF 4.00% 11/15/31 27 80 53 196%
3 NEW YORK CITY NY MUNI 5.25% 06/15/36 33 85 52 158%
4 MET NASHVILLE TN ARPT 5.00% 07/01/37 34 86 52 153%
5 ENERGY NW-A-REF 5.00% 07/01/29 12 63 51 425%
6 N TEX MUN WTR-REF 5.00% 09/01/27 5 54 49 980%
7 MET NASHVILLE TN ARPT 5.00% 07/01/36 34 83 49 144%
8 NYC TRANS FIN AUTH-S2 5.00% 07/15/34 46 92 46 100%
9 MET NASHVILLE TN ARPT 5.00% 07/01/38 31 75 44 142%
10 ARIZONA BRD OF RGTS 4.00% 07/01/40 48 90 42 88%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 6/19/20 – 6/26/20

RANK TRANCHE COUPON MATURITY DEALERS
1 NEW YORK CITY NY MUNI 4.00% 06/15/41 39
2 NYC TRANSITIONAL FIN 4.00% 05/01/40 38
3 NEW YORK CITY NY MUNI 4.00% 06/15/50 33
4 CA UNIV REVENUE-A-REF 5.00% 11/01/47 32
5 TX WTR DEV 3.00% 08/01/40 31
6 NYC TRANSITIONAL FIN 4.00% 05/01/45 31
7 HOUSTON UTL SYS-C-REF 4.00% 11/15/36 30
8 MET TRANSPRTN AUTH-A- 4.00% 02/01/22 29
9 TRIBOROUGH BRIDGE & T 4.00% 11/15/54 29
10 CALIFORNIA ST 5.00% 03/01/31 29

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