Municipals

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Municipal Bond Market Summary:
Week Ending 10/30/20

Our newsletter presents key trends derived from observable Municipal Bond pricing data over a weekly period.

Top 10 Winners

Showcases the top 10 Muni Bond “Winners” based on price movements between 10/23/20 – 10/30/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 SAN ANTONIO -CFC REV 5.67% 07/01/35 3.85% 110.08 106.00
2 HIGHER EDUCTNL FACS-B 2.59% 12/01/29 2.90% 103.50 100.58
3 MET TRANSPRTN AUTH NY 5.00% 11/15/26 2.56% 108.03 105.33
4 KY TPK AUTH-A-REF 5.00% 07/01/26 2.53% 121.90 118.90
5 ATLANTA WTR-REF 5.00% 11/01/43 2.32% 120.42 117.68
6 GWINNETT CO DEV AUTH 2.50% 09/01/50 2.29% 98.54 96.33
7 LAWRENCE SCH BLDG COR 0.05% 07/15/34 2.29% 78.55 76.80
8 NJ ST TRANSN TR FD 0.00% 12/15/37 1.70% 53.54 52.65
9 NEW YORK CITY NY MUNI 5.00% 06/15/28 1.48% 133.18 131.24
10 PHOENIX IMPT-CAP-BHAC 5.50% 07/01/41 1.47% 148.77 146.62

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 10/23/20 – 10/30/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR BLDGS UNREF-D 5.13% 07/01/24 -5.32% 71.96 76.00
2 N TEXAS TOLLWY AUTH 1.83% 01/01/29 -5.25% 99.49 105.00
3 CINCINNATI-C-TXBL-REF 2.30% 12/01/40 -4.69% 94.91 99.58
4 HOOVER AL INDL DEV BR 5.75% 10/01/49 -4.17% 88.25 92.09
5 MIAMI DADE CO-B-REF 1.10% 07/01/26 -3.49% 96.68 100.18
6 SCOTTSDALE-B 2.90% 07/01/39 -3.49% 98.92 102.50
7 CALIFORNIA ST DEPT OF 5.00% 12/01/32 -3.47% 127.48 132.07
8 L A MET TRANSN 5.74% 06/01/39 -2.78% 137.97 141.91
9 REDONDO BEACH UNIF SD 2.11% 08/01/35 -2.61% 96.03 98.60
10 YSLETA ISD-B-TXBL 0.00% 08/15/33 -2.29% 73.99 75.72

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 10/23/20 – 10/30/20

RANK STATE CHANGE YLD YLD-1W
1 KS -51 bps 1.90% 2.40%
2 NY -43 bps 1.62% 2.05%
3 MS -40 bps 1.36% 1.76%
4 NC -37 bps 1.18% 1.55%
5 LA -35 bps 1.55% 1.90%
6 FL -35 bps 1.37% 1.72%
7 SC -22 bps 1.66% 1.87%
8 MO -21 bps 1.71% 1.93%
9 AL -21 bps 1.57% 1.78%
10 MA -20 bps 1.67% 1.87%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 10/23/20 – 10/30/20

RANK STATE CHANGE YLD YLD-1W
1 IN 71 bps 2.61% 1.90%
2 AZ 30 bps 2.09% 1.79%
3 GA 21 bps 1.66% 1.45%
4 MN 21 bps 1.83% 1.62%
5 MD 11 bps 1.82% 1.71%
6 WV 11 bps 1.49% 1.38%
7 NV 8 bps 2.06% 1.98%
8 MI 7 bps 1.98% 1.92%
9 AK 5 bps 1.56% 1.50%
10 IA 2 bps 1.57% 1.55%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 10/23/20 – 10/30/20 (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 10/23/20 – 10/30/20 (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 10/23/20 – 10/30/20 (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 10/23/20 – 10/30/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 10/23/20 vs. the week ending 10/30/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MASSACHUSETTS ST CLEA 5.00% 02/01/30 11 55 44 400%
2 NORTH CAROLINA-B 5.00% 06/01/29 5 44 39 780%
3 DASNY-A-REF-GROUP 2 5.00% 03/15/33 23 61 38 165%
4 VIRGINIA ST PORT AUTH 2.45% 07/01/40 4 40 36 900%
5 ILLINOIS ST 5.00% 07/01/21 39 75 36 92%
6 LOS ANGELES CA DEPT O 5.00% 07/01/50 85 119 34 40%
7 SAN FRANCISCO CITY & 5.00% 11/01/45 25 59 34 136%
8 TEXAS ST WTR DEV BRD 4.00% 04/15/51 115 149 34 30%
9 ILLINOIS ST-A 5.00% 04/01/22 8 40 32 400%
10 IL ST 5.00% 03/01/21 8 40 32 400%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 10/23/20 – 10/30/20

RANK TRANCHE COUPON MATURITY DEALERS
1 MISSOURI ST HLTH & ED 3.00% 06/01/53 33
2 TEXAS ST WTR DEV BRD 4.00% 10/15/45 30
3 TEXAS ST WTR DEV BRD 4.00% 04/15/51 30
4 NEW YORK CITY NY TRAN 4.00% 05/01/40 29
5 PENNSYLVANIA CMWLTH 2.13% 05/01/40 27
6 HENNEPIN CO -A 5.00% 12/01/32 27
7 NYC TRANSITIONAL FIN 4.00% 11/01/38 27
8 TEXAS ST WTR DEV BRD 3.00% 10/15/37 27
9 NEW YORK CITY NY MUNI 3.00% 06/15/50 25
10 NEW YORK CITY NY MUNI 5.00% 06/15/50 25

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