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Municipal Bond Market Summary:
Week Ending 2/19/21

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 2/12/21 – 2/19/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PUBLIC FIN AUTH-A 6.25% 08/01/27 3.88% 109.56 105.47
2 SANTA BARBARA HSD-A 0.00% 08/01/40 3.84% 64.62 62.23
3 PR ELEC PWR-BBB 5.40% 07/01/28 3.78% 89.70 86.43
4 HI ARPTS SYS CUST FAC 3.13% 07/01/26 2.80% 110.34 107.34
5 PUBLIC FIN AUTH WI LI 7.00% 12/01/50 2.79% 111.64 108.61
6 NEW ORLEANS WTR 5.00% 12/01/29 2.55% 121.91 118.88
7 SALINAS ECON-A-REF 5.00% 07/01/27 2.52% 123.01 119.99
8 TAMPA HOSP REVENUE-B 5.00% 07/01/34 2.45% 131.63 128.48
9 CONNECTICUT ST HLTH & 4.00% 07/01/41 2.42% 116.74 113.99
10 NASSAU CNTY-REF-A 5.00% 01/01/28 2.00% 122.23 119.82

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 2/12/21 – 2/19/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 MS DEV-BABS-HARRISON 6.59% 01/01/35 -9.29% 130.29 143.63
2 MD CMNTY DEV-A 3.85% 09/01/42 -8.69% 101.13 110.75
3 DC WTR & SWR-A-TXBL 4.81% 10/01/14 -8.37% 135.75 148.16
4 UNIV OF VA-C-TXBL 4.18% 09/01/17 -6.43% 122.18 130.58
5 DASNY-F-UNREFUNDED 3.19% 02/15/43 -5.11% 105.84 111.55
6 KIRTLAND CMNTY CLG 3.00% 05/01/39 -4.76% 108.78 114.21
7 MI FIN 8.37% 11/01/35 -4.71% 148.64 155.99
8 RUTGERS NJ ST UNIV 3.27% 05/01/43 -4.63% 105.39 110.50
9 OHIO ST UNIV-A-TXBL 4.80% 06/01/11 -4.57% 138.84 145.49
10 STOCKTON USD-TXB-C 7.08% 08/01/27 -3.91% 124.17 129.22

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 2/12/21 – 2/19/21

RANK STATE CHANGE YLD YLD-1W
1 KS -62 bps 1.71% 2.33%
2 OH -40 bps 1.52% 1.92%
3 DC -22 bps 1.63% 1.85%
4 SC -13 bps 1.32% 1.45%
5 AZ -11 bps 1.43% 1.54%
6 CT -8 bps 1.83% 1.91%
7 LA -8 bps 1.86% 1.94%
8 WI -6 bps 1.35% 1.41%
9 ME -6 bps 0.91% 0.97%
10 OR -1 bps 1.51% 1.52%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 2/12/21 – 2/19/21

RANK STATE CHANGE YLD YLD-1W
1 NE 72 bps 1.69% 0.97%
2 NH 51 bps 1.54% 1.03%
3 FL 42 bps 1.49% 1.06%
4 OK 35 bps 1.40% 1.05%
5 AL 32 bps 1.71% 1.39%
6 PA 27 bps 1.51% 1.24%
7 MN 25 bps 1.64% 1.38%
8 ID 22 bps 1.36% 1.13%
9 VA 22 bps 1.33% 1.12%
10 MO 19 bps 1.65% 1.46%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 2/12/21 – 2/19/21 (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 Yr All

10 Year Yield by State – GO Only

Displays the average Muni 10 year yield by state between 2/12/21 – 2/19/21 (General Obligation Bonds only)

Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories

10 Yr Go

10 Year Yield by State – Rev Only

Displays the average Muni 10 year yield by state between 2/12/21 – 2/19/21 (Revenue Bonds only)

Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories

10 Yr Rev

Sentiment

Reveals the percent of Muni bonds increasing in price (advancers) vs. decreasing in price (decliners) between 2/12/21 – 2/19/21

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 2/12/21 vs. the week ending 2/19/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 WASHINGTON SUBURBAN 5.00% 06/01/30 17 74 57 335%
2 TOLEDO-WTR SYS REV 5.00% 11/15/31 1 48 47 4700%
3 NJ TRANS TR FD-A-BAM 0.00% 12/15/38 2 49 47 2350%
4 FLORENCE PUB FACS-A 3.09% 11/01/40 5 47 42 840%
5 TOLEDO-WTR SYS REV 5.00% 11/15/41 14 54 40 286%
6 TOLEDO-WTR SYS REV 5.00% 11/15/42 14 54 40 286%
7 NEW JERSEY ST TRANSPR 5.00% 06/15/32 7 46 39 557%
8 SAN ANTONIO-C-REV 4.00% 05/15/37 16 54 38 238%
9 GEORGIA ST-E-REF 5.00% 12/01/25 17 52 35 206%
10 NEW YORK ST URBAN DEV 5.00% 03/15/38 82 116 34 41%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 2/12/21 – 2/19/21

RANK TRANCHE COUPON MATURITY DEALERS
1 TEXAS ST WTR DEV BRD 4.00% 04/15/51 33
2 NEW YORK ST DORM AUTH 4.00% 03/15/46 30
3 MASSACHUSETTS ST 5.00% 11/01/50 30
4 NY ST URBAN DEV-E-2 4.00% 03/15/38 29
5 DASNY-A-REF-GROUP 2 4.00% 03/15/37 28
6 LIBERTY DEV GOLDMAN 5.25% 10/01/35 27
7 SAN FRANCISCO CA BAY 3.00% 08/01/50 27
8 WISCONSIN-REF-2 5.00% 05/01/29 27
9 NEW YORK ST URBAN DEV 4.00% 03/15/49 26
10 NEW YORK ST URBAN DEV 5.00% 03/15/38 26

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