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Municipal Bond Market Summary:
Week Ending 9/11/20

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 9/4/20 – 9/11/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 RIALTO REDEV-TXB-B 7.50% 09/01/28 2.67% 130.15 126.77
2 CLINT ISD -TXBL -REF 2.27% 02/15/40 2.05% 102.32 100.26
3 DAUPHIN GEN AUTH-A 4.00% 06/01/32 1.70% 111.40 109.54
4 MIDLOTHIAN WTR CAB-RF 0.00% 09/01/22 1.69% 98.58 96.95
5 CHICAGO-C-REF-CABS 0.00% 01/01/30 1.50% 71.46 70.40
6 FLORIDA ST BRD OF ADM 1.26% 07/01/25 1.49% 101.79 100.30
7 KANSAS CITY-E-REF 5.00% 04/01/26 1.43% 119.43 117.74
8 SEATTLE DRAIN WSTWTR 4.00% 04/01/35 1.40% 115.51 113.92
9 NOBLESVILLE SEW WKS 3.00% 07/01/27 1.30% 112.87 111.42
10 SANTA CRUZ HIGH SD-A 3.00% 08/01/32 1.24% 110.87 109.51

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 9/4/20 – 9/11/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 ROSEMONT-TXB-C-CORP 6.75% 12/01/35 -14.30% 122.29 142.70
2 METRO TRANSP AUTH-A1 3.10% 11/15/35 -5.46% 90.32 95.53
3 NY TRNSPRTN DEV-AMT 4.00% 01/01/36 -4.70% 97.00 101.79
4 IL FIN AUTH 4.00% 10/01/50 -3.54% 107.82 111.77
5 MET TRANSPRTN -A-1 4.00% 11/15/50 -3.44% 111.90 115.88
6 LIVERMORE-B-COPS-REF 4.00% 10/01/40 -2.55% 116.63 119.68
7 PUB FIN AUTH-TXBL 6.75% 11/01/24 -2.52% 99.98 102.56
8 MERCED HSD-TXB-B1 6.72% 08/01/25 -2.30% 118.06 120.84
9 NYC TRANS FIN-F1 5.00% 05/01/42 -2.21% 120.49 123.22
10 CALIFORNIA ST HSG FIN 5.00% 04/01/32 -2.11% 138.64 141.62

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 9/4/20 – 9/11/20

RANK STATE CHANGE YLD YLD-1W
1 IN -56 bps 1.74% 2.30%
2 PA -48 bps 1.80% 2.28%
3 FL -22 bps 1.34% 1.56%
4 GA -16 bps 1.29% 1.45%
5 KS -15 bps 1.65% 1.79%
6 NM -8 bps 1.20% 1.28%
7 MT -7 bps 1.92% 1.99%
8 AL -7 bps 1.66% 1.73%
9 MD -5 bps 1.14% 1.20%
10 WV -5 bps 1.25% 1.30%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 9/4/20 – 9/11/20

RANK STATE CHANGE YLD YLD-1W
1 MA 48 bps 1.64% 1.16%
2 MO 40 bps 2.28% 1.88%
3 SC 33 bps 1.76% 1.43%
4 CT 33 bps 2.45% 2.13%
5 LA 25 bps 1.82% 1.58%
6 IL 25 bps 3.00% 2.76%
7 WA 24 bps 1.75% 1.51%
8 HI 22 bps 1.99% 1.77%
9 IA 21 bps 1.49% 1.28%
10 NV 14 bps 1.85% 1.70%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 9/4/20 – 9/11/20 (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 - All

10 Year Yield by State – GO Only

Displays the average Muni 10 year yield by state between 9/4/20 – 9/11/20 (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 Year Yield by State - Go

10 Year Yield by State – Rev Only

Displays the average Muni 10 year yield by state between 9/4/20 – 9/11/20 (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 Year Yield by State - Rev

Sentiment

Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 9/4/20 – 9/11/20

Muni 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 9/4/20 vs. the week ending 9/11/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 HOWARD CO-B-REF 3.00% 08/15/49 28 74 46 164%
2 PA ECON DEV-A 4.00% 11/15/37 27 68 41 152%
3 MIAMI-DADE CO SCD-A 5.00% 05/01/32 25 65 40 160%
4 MET TRANS AUTH-B-REF 5.00% 11/15/27 26 65 39 150%
5 NYC MUNI WTR FIN -BB1 4.00% 06/15/49 41 78 37 90%
6 N BROWARD HOSP-B 5.00% 01/01/35 11 47 36 327%
7 PRINCE GEORGE’S CO -A 5.00% 07/15/34 11 45 34 309%
8 NYC MUNI WTR FIN-FF-2 4.00% 06/15/36 14 48 34 243%
9 UPPER OCCOQUAN SEWAGE 3.00% 07/01/49 23 57 34 148%
10 ALLEGHENY CNTY-A-REF 4.00% 07/15/36 32 65 33 103%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 9/4/20 – 9/11/20

RANK TRANCHE COUPON MATURITY DEALERS
1 MASSACHUSETTS ST 5.00% 07/01/48 29
2 NEW YORK ST URBAN DEV 4.00% 03/15/42 28
3 NEW YORK ST URBAN DEV 4.00% 03/15/41 27
4 WASHINGTON ST-A 5.00% 08/01/36 26
5 PORT AUTH OF NEW YORK 5.00% 07/15/32 26
6 WASHINGTON ST -B 5.00% 06/01/43 26
7 NEW YORK ST URBAN DEV 5.00% 03/15/31 26
8 HOUSTON PORT AUTH -A 4.00% 10/01/36 25
9 CELINA ISD 4.00% 08/15/50 24
10 WASHINGTON ST-A 0.05% 08/01/37 23

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