Municipals

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Municipal Bond Market Summary:
Week Ending 1/8/21

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 12/31/20 – 1/8/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 BALTIMORE CONVTN-REF 5.00% 09/01/46 5.92% 99.57 94.00
2 PR ELEC-WW 5.25% 07/01/33 5.92% 76.36 72.09
3 PR-REF-A 5.13% 07/01/37 4.84% 75.62 72.13
4 DUTCHESS CNTY NY LOCA 5.00% 07/01/45 3.51% 113.36 109.51
5 MET TRANSPRTN AUTH NY 5.00% 11/15/28 3.47% 117.59 113.64
6 GDB DEBT RECOVERY AUT 7.50% 08/20/40 3.40% 80.09 77.46
7 CA EDU FACS AUTH -A 3.56% 04/01/31 2.94% 113.74 110.49
8 DAUPHIN CO GEN AUTH 5.13% 10/15/41 2.78% 97.13 94.50
9 CITRUS CMNTY CLG DT-A 1.45% 08/01/28 2.55% 102.55 100.00
10 WESTCHESTER LOCAL-A 6.25% 06/01/50 2.47% 117.70 114.86

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 12/31/20 – 1/8/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 INDIANA UNIV TRUSTEES 3.07% 06/01/60 -4.24% 108.93 113.76
2 PA TPK-BABS-B 5.56% 12/01/49 -4.00% 140.93 146.80
3 UNIV OF TEXAS SYS BRD 3.35% 08/15/47 -3.95% 116.27 121.05
4 LITCHFIELD PUB SCHS 5.00% 02/01/24 -3.59% 114.52 118.79
5 AMHERST DEV CORP-REF 5.00% 10/01/43 -3.19% 108.11 111.66
6 PORT AUTH NY/NJ #168 4.93% 10/01/51 -2.83% 135.83 139.78
7 BAY AREA TOLL-F-2 6.26% 04/01/49 -2.80% 168.10 172.94
8 ESCAMBIA HSG SFM-A 3.65% 10/01/44 -2.52% 107.81 110.60
9 MCHENRY ETC SD #55 1.70% 12/30/33 -2.49% 97.51 100.00
10 UNIV OF CALIFORNIA-BF 2.65% 05/15/50 -2.17% 98.24 100.41

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 12/31/20 – 1/8/21

RANK STATE CHANGE YLD YLD-1W
1 AL -55 bps 1.29% 1.84%
2 MA -46 bps 1.73% 2.18%
3 KS -42 bps 1.78% 2.20%
4 CO -39 bps 1.17% 1.57%
5 MI -33 bps 1.50% 1.83%
6 OH -33 bps 1.73% 2.06%
7 AR -32 bps 2.05% 2.37%
8 NV -31 bps 1.35% 1.66%
9 MO -20 bps 1.56% 1.76%
10 WA -17 bps 1.57% 1.74%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 12/31/20 – 1/8/21

RANK STATE CHANGE YLD YLD-1W
1 DC 32 bps 1.45% 1.12%
2 MN 26 bps 1.47% 1.21%
3 LA 24 bps 1.52% 1.28%
4 NE 15 bps 1.22% 1.07%
5 MT 12 bps 1.38% 1.27%
6 GA 9 bps 1.36% 1.27%
7 OR 6 bps 1.63% 1.56%
8 AZ 6 bps 1.55% 1.50%
9 IL 5 bps 2.51% 2.46%
10 WI 5 bps 1.36% 1.31%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 12/31/20 – 1/8/21 (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 12/31/20 – 1/8/21 (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 12/31/20 – 1/8/21 (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 12/31/20 – 1/8/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 12/31/20 vs. the week ending 1/8/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 NEW YORK ST PWR AUTH 4.00% 11/15/55 15 67 52 347%
2 ILLINOIS ST-REF 5.00% 02/01/25 8 56 48 600%
3 SOUTH CAROLINA ST PUB 5.00% 12/01/32 55 101 46 84%
4 TX WTR DEV 4.00% 08/01/35 21 66 45 214%
5 TX WTR DEV 4.00% 08/01/37 5 48 43 860%
6 TX WTR DEV 4.00% 08/01/38 4 47 43 1075%
7 WASHINGTON MD SUB SAN 3.00% 06/01/27 5 46 41 820%
8 CENTRL PLAINS ENERGY 5.00% 09/01/32 50 88 38 76%
9 HUDSON NY YARDS INFRA 4.00% 02/15/44 38 74 36 95%
10 ARIZONA BRD OF RGTS 4.00% 07/01/38 10 46 36 360%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 12/31/20 – 1/8/21

RANK TRANCHE COUPON MATURITY DEALERS
1 MASSACHUSETTS ST 5.00% 11/01/50 33
2 UNIV OF TEXAS UNIV-A 5.00% 08/15/30 32
3 TEXAS ST WTR DEV BRD 4.00% 04/15/51 32
4 AUSTIN-A-REF 5.00% 11/15/50 28
5 NEW JERSEY ST-A 4.00% 06/01/30 26
6 NEW JERSEY ST-A 3.00% 06/01/32 26
7 MASSACHUSETTS ST 4.00% 11/01/37 26
8 CALIFORNIA ST 5.00% 03/01/35 26
9 ROCKWALL ISD 4.00% 02/15/50 26
10 MARYLAND ST-B-REF 5.00% 08/01/25 26

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