Municipals
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Municipal Bond Market Summary:
Week Ending 2/26/21
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 2/19/21 – 2/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CA ED FACS-A | 0.00% | 10/01/37 | 13.45% | 79.54 | 70.11 |
| 2 | PR-REF-A | 5.00% | 07/01/33 | 9.25% | 80.84 | 74.00 |
| 3 | ANNA-CTFS OBLIG | 4.00% | 02/15/37 | 4.30% | 122.48 | 117.43 |
| 4 | SACRAMENTO SAN REF-B | 0.76% | 12/01/35 | 4.09% | 99.67 | 95.75 |
| 5 | MS HOME CORP-B | 1.30% | 06/01/28 | 3.44% | 107.46 | 103.89 |
| 6 | SCOTTSDALE USD #48 -D | 4.00% | 07/01/32 | 3.18% | 125.77 | 121.89 |
| 7 | GLENWOOD | 7.03% | 12/01/28 | 2.75% | 123.91 | 120.60 |
| 8 | HAWAII ST-B-TXBL-REV | 3.48% | 07/01/50 | 2.73% | 107.15 | 104.30 |
| 9 | TULSA INDL AUTH-REF | 3.75% | 10/01/34 | 2.56% | 105.86 | 103.22 |
| 10 | FT BRAGG USD CAB-ELEC | 0.00% | 08/01/39 | 2.50% | 68.00 | 66.34 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 2/19/21 – 2/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | UNIV OF TEXAS UNIV-A | 3.50% | 08/15/50 | -7.80% | 119.59 | 129.71 |
| 2 | CAPITAL TRUST AGY-A1 | 4.00% | 07/01/43 | -6.99% | 53.97 | 58.02 |
| 3 | WORCESTER | 2.00% | 02/15/50 | -6.93% | 92.04 | 98.89 |
| 4 | RUTHERFORD BORO | 0.05% | 11/01/42 | -6.55% | 58.76 | 62.88 |
| 5 | BATTERY PARK CITY NY | 5.00% | 11/01/40 | -6.47% | 129.20 | 138.14 |
| 6 | SAYDEL CMNTY SD -A | 1.45% | 06/01/40 | -6.37% | 93.63 | 100.00 |
| 7 | PORT FREEPORT | 2.00% | 08/01/51 | -6.14% | 92.25 | 98.28 |
| 8 | CLACKAMAS SD #46-CABS | 0.00% | 06/15/39 | -5.93% | 64.73 | 68.81 |
| 9 | UNIV OF TEXAS TX-BOR | 5.00% | 08/15/49 | -5.85% | 150.35 | 159.69 |
| 10 | RIVERSIDE-JURUPA-CAB | 0.00% | 10/01/39 | -5.84% | 60.03 | 63.76 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 2/19/21 – 2/26/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | LA | -7 bps | 1.79% | 1.86% |
| 2 | VA | 2 bps | 1.42% | 1.39% |
| 3 | MA | 3 bps | 1.51% | 1.48% |
| 4 | AZ | 3 bps | 1.46% | 1.43% |
| 5 | AL | 6 bps | 1.77% | 1.71% |
| 6 | MO | 7 bps | 1.72% | 1.65% |
| 7 | MS | 9 bps | 1.48% | 1.38% |
| 8 | TX | 11 bps | 1.71% | 1.60% |
| 9 | FL | 11 bps | 1.60% | 1.49% |
| 10 | CT | 14 bps | 1.97% | 1.83% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 2/19/21 – 2/26/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | DC | 77 bps | 2.37% | 1.60% |
| 2 | NV | 51 bps | 1.89% | 1.38% |
| 3 | OH | 50 bps | 2.02% | 1.52% |
| 4 | NC | 47 bps | 1.45% | 0.98% |
| 5 | GA | 41 bps | 1.68% | 1.27% |
| 6 | NE | 35 bps | 2.04% | 1.69% |
| 7 | ME | 34 bps | 1.25% | 0.91% |
| 8 | MT | 34 bps | 1.45% | 1.11% |
| 9 | DE | 33 bps | 1.28% | 0.95% |
| 10 | WV | 32 bps | 1.51% | 1.19% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 2/19/21 – 2/26/21 (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 2/19/21 – 2/26/21 (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 2/19/21 – 2/26/21 (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 2/19/21 – 2/26/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 2/19/21 vs. the week ending 2/26/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MARICOPA CO IDA-A | 4.00% | 09/01/51 | 36 | 82 | 46 | 128% |
| 2 | PR PUB BLDG-U-REF | 5.25% | 07/01/42 | 11 | 55 | 44 | 400% |
| 3 | EAST BAY CA MUNI UTIL | 5.00% | 06/01/29 | 10 | 54 | 44 | 440% |
| 4 | E BAY MUD-B-REF | 5.00% | 06/01/24 | 1 | 44 | 43 | 4300% |
| 5 | MET TRANSPRTN AUTH-A1 | 4.00% | 11/15/49 | 21 | 64 | 43 | 205% |
| 6 | DETROIT MI | 3.24% | 04/01/29 | 23 | 64 | 41 | 178% |
| 7 | ARLINGTON-A | 4.00% | 08/01/32 | 14 | 55 | 41 | 293% |
| 8 | N TX TOLLWAY AUTH REV | 5.00% | 01/01/25 | 10 | 47 | 37 | 370% |
| 9 | TX WTR DEV | 4.00% | 08/01/34 | 27 | 64 | 37 | 137% |
| 10 | CA HLTH FACS-A2 | 5.00% | 11/01/47 | 22 | 58 | 36 | 164% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 2/19/21 – 2/26/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MASSACHUSETTS ST | 5.00% | 11/01/50 | 31 |
| 2 | TEXAS ST WTR DEV BRD | 4.00% | 04/15/51 | 30 |
| 3 | SAN FRANCISCO CA BAY | 3.00% | 08/01/50 | 29 |
| 4 | NYC TRANS FIN-E-1 | 3.00% | 02/01/51 | 29 |
| 5 | DASNY-A-REF-GROUP 2 | 4.00% | 03/15/37 | 27 |
| 6 | NEW YORK ST DORM AUTH | 4.00% | 03/15/46 | 27 |
| 7 | WISCONSIN-REF-2 | 5.00% | 05/01/29 | 27 |
| 8 | NEW YORK ST URBAN DEV | 4.00% | 03/15/49 | 26 |
| 9 | NEW JERSEY ST TURNPIK | 4.00% | 01/01/42 | 26 |
| 10 | NEW JERSEY ST-A | 5.00% | 06/01/29 | 25 |
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