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Municipal Bond Market Summary:
Week Ending 1/29/21

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 1/22/21 – 1/29/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 MET TRN AUTH 6.65% 11/15/39 7.88% 145.64 135.01
2 RUTGERS UNIV-P-TXBL 3.92% 05/01/19 6.22% 121.21 114.11
3 OCEANSIDE USD-C 0.00% 08/01/44 4.83% 58.16 55.48
4 HASTINGS CAMPUS HSG-A 5.00% 07/01/45 3.81% 115.94 111.69
5 PUB FIN AUTH-A 4.75% 11/15/53 3.74% 99.53 95.94
6 WESTCHESTER LOCAL-A 6.25% 06/01/50 3.68% 122.03 117.70
7 TEXAS ST A & M UNIV R 3.29% 05/15/31 3.28% 114.05 110.43
8 CORPUS CHRISTI UTL-B 1.81% 07/15/29 3.28% 104.99 101.66
9 PR ELEC PWR-XX 4.63% 07/01/25 3.04% 84.47 81.98
10 CA ST PUB WKS BRD -D 2.00% 11/01/35 2.97% 103.21 100.23

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 1/22/21 – 1/29/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 MO JT MUN ELEC-BABS 7.73% 01/01/39 -3.76% 157.77 163.93
2 FRESNO USD-REF-A 6.00% 08/01/26 -3.13% 119.86 123.74
3 MD TRN-TXB-BALTIMORE 6.65% 07/01/32 -2.46% 125.67 128.85
4 BERNALILLO RCPTS REF 5.25% 04/01/27 -2.41% 118.53 121.46
5 ATLANTA WTR/WSTWTR-A 5.50% 11/01/27 -1.99% 124.86 127.39
6 PREREF-CENTRAL DAUPHI 4.00% 02/01/28 -1.79% 116.82 118.95
7 CAMPBELL SD-B 5.00% 08/01/34 -1.45% 123.64 125.46
8 CRYSTAL VLY MET DT#2 4.00% 12/01/44 -1.19% 119.26 120.70
9 MONTGOMERY REV-UNREF 5.25% 05/01/29 -1.03% 112.63 113.81
10 KLAMATH FALLS HOSP 3.00% 09/01/35 -0.97% 105.66 106.69

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 1/22/21 – 1/29/21

RANK STATE CHANGE YLD YLD-1W
1 AR -51 bps 1.45% 1.96%
2 MA -45 bps 1.47% 1.92%
3 HI -40 bps 1.72% 2.13%
4 ME -36 bps 0.86% 1.22%
5 NE -29 bps 0.97% 1.26%
6 FL -27 bps 1.14% 1.41%
7 IA -25 bps 1.42% 1.67%
8 WI -23 bps 1.19% 1.42%
9 MS -22 bps 1.50% 1.72%
10 VA -20 bps 1.06% 1.26%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 1/22/21 – 1/29/21

RANK STATE CHANGE YLD YLD-1W
1 KS 34 bps 2.21% 1.87%
2 MD 25 bps 1.39% 1.14%
3 DC 17 bps 1.48% 1.32%
4 NV 16 bps 1.69% 1.53%
5 MN 15 bps 1.55% 1.40%
6 MO 6 bps 1.46% 1.40%
7 UT 6 bps 1.17% 1.12%
8 TN 4 bps 1.32% 1.28%
9 NJ 3 bps 1.56% 1.53%
10 PA 2 bps 1.53% 1.51%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 1/22/21 – 1/29/21 (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 1/22/21 – 1/29/21 (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 1/22/21 – 1/29/21 (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 1/22/21 – 1/29/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 1/22/21 vs. the week ending 1/29/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MIAMI-DADE CO WTR&SWR 4.00% 10/01/49 112 173 61 54%
2 NEW YORK ST URBAN DEV 4.00% 03/15/49 26 78 52 200%
3 DALLAS ISD 3.00% 02/15/33 7 51 44 629%
4 DETROIT 5.50% 04/01/45 14 57 43 307%
5 DETROIT 5.50% 04/01/50 14 57 43 307%
6 BEND-SWR REV 5.00% 05/01/50 8 47 39 488%
7 NORTH CAROLINA ST LTD 5.00% 05/01/32 13 49 36 277%
8 DASNY-A-REF-GROUP 2 4.00% 03/15/37 72 107 35 49%
9 NEW YORK ST DORM AUTH 4.00% 03/15/46 78 112 34 44%
10 CLEAR CREEK ISD 4.00% 02/15/37 16 50 34 213%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 1/22/21 – 1/29/21

RANK TRANCHE COUPON MATURITY DEALERS
1 MIAMI-DADE CO WTR&SWR 4.00% 10/01/49 36
2 UNIV OF TEXAS UNIV-A 5.00% 08/15/30 32
3 TEXAS ST WTR DEV BRD 4.00% 04/15/51 31
4 LOS ANGELES WTR PWR-A 5.00% 07/01/45 27
5 MUNI ELEC AUTH OF GEO 5.00% 01/01/59 25
6 CONNECTICUT ST -A 2.00% 01/15/41 25
7 NEW YORK ST DORM AUTH 4.00% 03/15/46 25
8 DASNY-A-REF-GROUP 2 4.00% 03/15/37 25
9 NY ST URBAN DEV-E-4 3.00% 03/15/47 25
10 FL MUNI PWR AGY-A-REF 5.00% 10/01/25 24

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