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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.

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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 2/19/21 – 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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