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Municipal Bond Market Summary:
Week Ending 2/5/21

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 1/29/21 – 2/5/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 UNIV TX 5.26% 07/01/39 5.39% 150.71 143.01
2 PR-REF-A 5.50% 07/01/26 4.93% 78.70 75.00
3 AR DEV FIN AUTH 3.20% 12/01/49 4.03% 108.04 103.86
4 MET TRANSPRTN AUTH NY 5.00% 11/15/25 3.99% 118.57 114.02
5 FRESNO USD-REF-A 6.00% 08/01/26 3.60% 124.18 119.86
6 W COVINA PUB FING AUT 3.74% 08/01/38 3.59% 105.88 102.21
7 ALVORD USD-B-CABS 0.00% 08/01/36 3.50% 69.84 67.48
8 PR ELEC PWR-CCC 4.75% 07/01/26 3.47% 83.81 81.00
9 PALM BEACH CNTY FL-B 4.00% 05/15/53 3.46% 108.95 105.31
10 S JERSEY PORT CORP-P3 7.37% 01/01/40 3.09% 133.11 129.12

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 1/29/21 – 2/5/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 UNIV OF VA-C-TXBL 4.18% 09/01/17 -4.67% 129.00 135.32
2 UNIV OF CALIFORNIA-BF 2.65% 05/15/50 -3.72% 95.64 99.33
3 GAINESVILLE HOSP-A 4.00% 02/15/42 -3.19% 112.39 116.10
4 NYC SER H-1-BABS 5.85% 06/01/40 -2.91% 147.87 152.31
5 MISSOURI HLTH & EDU-A 3.23% 05/15/50 -2.70% 113.97 117.13
6 MA COMMONWEALTH 2.90% 09/01/49 -2.58% 107.42 110.26
7 RD 17 LEVEE AREA 5.00% 09/01/29 -2.51% 115.72 118.70
8 NY DORM AUTH-A 5.00% 08/01/27 -2.34% 120.10 122.98
9 EL MONTE WTR AUTH-A 5.00% 09/01/34 -2.31% 124.13 127.07
10 LOS ANGELES CMNTY CL 6.75% 08/01/49 -2.02% 175.99 179.61

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 1/29/21 – 2/5/21

RANK STATE CHANGE YLD YLD-1W
1 PA -31 bps 1.22% 1.53%
2 WI -31 bps 1.00% 1.31%
3 AL -26 bps 1.17% 1.42%
4 NV -25 bps 1.40% 1.66%
5 KS -23 bps 1.72% 1.95%
6 HI -19 bps 1.63% 1.81%
7 MN -18 bps 1.37% 1.55%
8 MD -18 bps 1.20% 1.38%
9 NH -18 bps 1.29% 1.46%
10 IN -15 bps 1.38% 1.53%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 1/29/21 – 2/5/21

RANK STATE CHANGE YLD YLD-1W
1 OH 22 bps 1.94% 1.72%
2 AR 22 bps 1.65% 1.43%
3 LA 15 bps 1.78% 1.63%
4 MA 11 bps 1.57% 1.46%
5 NC 11 bps 0.95% 0.84%
6 ND 7 bps 1.34% 1.27%
7 FL 5 bps 1.12% 1.07%
8 CT 5 bps 1.98% 1.93%
9 WA 4 bps 1.59% 1.55%
10 IA 4 bps 1.43% 1.39%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 1/29/21 – 2/5/21 (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 - All

10 Year Yield by State – GO Only

Displays the average Muni 10 year yield by state between 1/29/21 – 2/5/21 (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 - Go

10 Year Yield by State – Rev Only

Displays the average Muni 10 year yield by state between 1/29/21 – 2/5/21 (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 1/29/21 – 2/5/21

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 1/29/21 vs. the week ending 2/5/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MICHIGAN ST -B -REV 4.00% 11/15/45 17 83 66 388%
2 LOWER MERION SCH DT 4.00% 11/15/31 10 71 61 610%
3 MASSACHUSETTS ST 3.00% 07/01/48 18 71 53 294%
4 DASNY-A-REF-GROUP 3 3.00% 03/15/38 8 53 45 563%
5 SAN FRANCISCO CA BAY 3.00% 08/01/50 73 118 45 62%
6 NEW YORK ST URBAN DEV 4.00% 03/15/49 78 118 40 51%
7 MICHIGAN ST UNIV-B 5.00% 02/15/48 15 55 40 267%
8 NORTH CAROLINA ST 5.00% 03/01/31 22 62 40 182%
9 NY ST URBAN DEV-E-2 4.00% 03/15/38 91 130 39 43%
10 CHICAGO IL TRANSIT AU 5.00% 12/01/55 7 45 38 543%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 1/29/21 – 2/5/21

RANK TRANCHE COUPON MATURITY DEALERS
1 MIAMI-DADE CO WTR&SWR 4.00% 10/01/49 37
2 UNIV OF TEXAS UNIV-A 5.00% 08/15/30 31
3 PENNSYLVANIA ST TURNP 4.00% 12/01/50 30
4 TEXAS ST WTR DEV BRD 4.00% 04/15/51 30
5 DASNY-A-REF-GROUP 2 4.00% 03/15/37 30
6 NEW YORK ST DORM AUTH 4.00% 03/15/46 29
7 NY ST URBAN DEV-E-2 4.00% 03/15/38 29
8 MASSACHUSETTS ST 5.00% 11/01/50 28
9 WISCONSIN-REF-2 5.00% 05/01/29 26
10 SAN FRANCISCO CA BAY 3.00% 08/01/50 26

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