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Municipal Bond Market Summary:
Week Ending 7/24/20

Our 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 7/17/20 – 7/24/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 UPPER SANTA CLARA-A 5.00% 08/01/46 4.15% 127.17 122.10
2 MASSACHUSETTS ST DEV 3.00% 10/01/37 3.82% 103.91 100.08
3 SAN JOAQUIN CO-COPS 5.00% 11/15/29 3.57% 129.84 125.36
4 GROSSMONT SD-G2 5.00% 08/01/27 3.38% 126.55 122.42
5 MASSACHUSETTS ST 1.93% 07/01/34 3.17% 102.41 99.27
6 EL MONTE UHSD-CABS 0.00% 06/01/36 3.07% 72.60 70.44
7 MONTEBELLO USD-CABS 0.00% 07/01/29 3.01% 84.24 81.78
8 JOBSOHIO BEVERAGE SYS 2.83% 01/01/38 2.95% 110.10 106.94
9 GUAM GOVT WTRWKS AUTH 5.00% 01/01/50 2.78% 122.19 118.89
10 NYC TRANS FIN AUTH 5.00% 05/01/40 2.71% 128.07 124.70

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 7/17/20 – 7/24/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 GATESVILLE-CTFS OBLIG 2.00% 02/01/29 -6.89% 108.02 116.02
2 ATLANTA GA DEV AUTH 5.25% 07/01/40 -3.31% 108.24 111.95
3 BEXAR CNTY REV-REF 4.00% 08/15/39 -3.26% 106.47 110.06
4 MET TRANS AUTH 5.11% 11/15/22 -2.86% 104.65 107.73
5 AMHERST DEV CORP-REF 5.00% 10/01/48 -2.19% 111.17 113.66
6 IN BD BK LIBOR SER B 1.65% 10/15/22 -2.13% 100.25 102.43
7 NJ TRN CAB-C-BHAC 0.00% 12/15/24 -1.54% 95.40 96.89
8 EL PASO CO HOSP-REF 5.00% 08/15/25 -1.53% 114.45 116.23
9 PALM BCH ARPT-REF 5.00% 10/01/28 -1.50% 119.29 121.10
10 PR ELEC PWR AUTH-A 6.75% 07/01/36 -1.23% 70.20 71.07

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 7/17/20 – 7/24/20

RANK STATE CHANGE YLD YLD-1W
1 DC -65 bps 1.25% 1.90%
2 MO -54 bps 1.53% 2.07%
3 AL -49 bps 1.53% 2.02%
4 KS -48 bps 1.23% 1.71%
5 MA -42 bps 1.39% 1.81%
6 NE -32 bps 1.24% 1.56%
7 GA -30 bps 1.22% 1.52%
8 MI -30 bps 1.56% 1.86%
9 NC -28 bps 1.08% 1.36%
10 MS -18 bps 1.44% 1.62%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 7/17/20 – 7/24/20

RANK STATE CHANGE YLD YLD-1W
1 HI 49 bps 1.74% 1.25%
2 SC 40 bps 1.76% 1.37%
3 TN 34 bps 1.61% 1.28%
4 IA 27 bps 1.85% 1.58%
5 WI 18 bps 1.71% 1.53%
6 LA 12 bps 1.67% 1.54%
7 OH 9 bps 2.09% 2.00%
8 IL 5 bps 2.59% 2.54%
9 MN 4 bps 1.45% 1.42%
10 NV 2 bps 1.87% 1.84%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 7/17/20 – 7/24/20 (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 7/17/20 – 7/24/20 (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 - Go

10 Year Yield by State – Rev Only

Displays the average Muni 10 year yield by state between 7/17/20 – 7/24/20 (Revenue 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

Sentiment

Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 7/17/20 – 7/24/20

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 7/17/20 vs. the week ending 7/24/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 PHENIX BOE WARRANTS 4.00% 08/01/38 15 66 51 340%
2 PRIV CLGS & UNIVS AUT 5.00% 09/01/37 11 60 49 445%
3 SAN DIEGO CO REGL 5.00% 07/01/30 25 74 49 196%
4 ESCAMBIA CO HLTH FACS 4.00% 08/15/50 4 49 45 1125%
5 GEISINGER PA AUTH HLT 4.00% 04/01/39 56 100 44 79%
6 BRUNSWICK CO -REV 3.00% 04/01/38 16 60 44 275%
7 MA ST CLEAN WTR TRUST 5.00% 08/01/31 10 53 43 430%
8 RICHMOND VA PUBLIC UT 4.00% 01/15/37 19 61 42 221%
9 DIST OF COLUMBIA TAX 4.00% 06/01/39 15 55 40 267%
10 COLLIN CNTY TX CMNTY 4.00% 08/15/37 20 60 40 200%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 7/17/20 – 7/24/20

RANK TRANCHE COUPON MATURITY DEALERS
1 HOUSTON UTL SYS-C-REF 4.00% 11/15/37 37
2 NEW YORK CITY NY MUNI 4.00% 06/15/50 34
3 CONNECTICUT ST 4.00% 06/01/39 33
4 NEW YORK CITY NY MUNI 4.00% 06/15/41 32
5 HOUSTON UTL SYS-C-REF 4.00% 11/15/36 32
6 LOS ANGELES DEPT-B 5.00% 07/01/40 32
7 DALLAS TX WTRWKS &SWR 4.00% 10/01/40 31
8 CONNECTICUT ST HLTH & 5.00% 07/01/29 30
9 DALLAS TX WTRWKS &SWR 4.00% 10/01/39 30
10 MASSACHUSETTS ST 5.00% 07/01/45 29

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