Municipals

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Municipal Bond Market Summary:
Week Ending 3/5/21

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 2/26/21 – 3/5/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR-REF-PUB IMPT-A 5.50% 07/01/32 4.28% 86.56 83.00
2 BASSETT USD-CABS-C 0.00% 08/01/35 2.98% 71.18 69.12
3 MS ST-TAXABLE-D 5.54% 10/01/29 2.94% 125.74 122.15
4 IRWINDALE REDEV-TXB 5.53% 08/01/26 2.74% 116.76 113.64
5 LINDEN CMNTY SCHS-I 3.00% 05/01/46 2.71% 106.54 103.73
6 KIRKWOOD CMNTY CLG 4.00% 06/01/36 2.64% 117.50 114.47
7 NY ST URBAN DEV-E-2 4.00% 03/15/36 2.12% 118.29 115.84
8 TOMPKINS CO 1.25% 02/01/36 2.11% 95.26 93.29
9 GREAT LAKES MI WTR AU 3.47% 07/01/41 2.10% 108.15 105.92
10 OREGON ST 2.42% 08/01/43 2.05% 97.80 95.83

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 2/26/21 – 3/5/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 MICHIGAN ST FIN AUTH 3.08% 12/01/34 -5.98% 105.00 111.68
2 CA MUNI FIN AUTH-A 4.00% 11/01/44 -5.96% 109.68 116.64
3 BERKS CO MUNI AUTH -B 5.00% 02/01/40 -5.77% 109.79 116.51
4 CHAFFEY CA JT UN HSD 0.00% 08/01/37 -5.50% 64.12 67.86
5 AMERN MUN PWR-B-BABS 8.08% 02/15/50 -5.28% 177.65 187.55
6 NY ST URBAN DEV-E-2 4.00% 03/15/35 -5.11% 117.31 123.63
7 OXNARD SD-TXBL-REF 2.76% 08/01/44 -4.98% 98.46 103.62
8 KANSAS ST DEV FIN AUT 4.73% 04/15/37 -4.86% 120.21 126.35
9 OHIO ST -A -HOSP REV 4.00% 01/15/50 -4.78% 111.59 117.18
10 TARRANT REGL WTR DT-B 2.45% 09/01/44 -4.75% 91.75 96.33

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 2/26/21 – 3/5/21

RANK STATE CHANGE YLD YLD-1W
1 DC -57 bps 1.80% 2.37%
2 NE -39 bps 1.65% 2.04%
3 OH -22 bps 1.80% 2.02%
4 KS -19 bps 1.78% 1.97%
5 SC -18 bps 1.45% 1.63%
6 WV -18 bps 1.36% 1.54%
7 NV -16 bps 1.74% 1.90%
8 MI -10 bps 1.86% 1.95%
9 IN -8 bps 1.73% 1.81%
10 NC -7 bps 1.39% 1.46%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 2/26/21 – 3/5/21

RANK STATE CHANGE YLD YLD-1W
1 MN 26 bps 2.11% 1.84%
2 MA 23 bps 1.75% 1.53%
3 CO 22 bps 1.85% 1.63%
4 AL 17 bps 1.95% 1.78%
5 AZ 14 bps 1.69% 1.55%
6 MO 13 bps 1.85% 1.73%
7 CT 13 bps 2.09% 1.97%
8 FL 12 bps 1.72% 1.60%
9 NH 12 bps 1.81% 1.69%
10 CA 9 bps 2.01% 1.92%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 2/26/21 – 3/5/21 (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 – GO Only

Displays the average Muni 10 year yield by state between 2/26/21 – 3/5/21 (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 – Rev Only

Displays the average Muni 10 year yield by state between 2/26/21 – 3/5/21 (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 2/26/21 – 3/5/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 2/26/21 vs. the week ending 3/5/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MULTNOMAH CNTY OR SD 3.00% 06/15/35 18 62 44 244%
2 MICHIGAN ST FIN AUTH 3.00% 10/01/39 23 63 40 174%
3 TEXAS ST WTR DEV BRD 4.00% 10/15/54 54 94 40 74%
4 CALIFORNIA ST 5.00% 11/01/28 96 135 39 41%
5 EAST BAY CA MUNI UTIL 4.00% 06/01/25 10 48 38 380%
6 LOS ANGELES CO MTA -A 5.00% 06/01/34 11 49 38 345%
7 MICHIGAN ST FIN AUTH 3.00% 10/01/38 13 51 38 292%
8 CA HLTH FACS-A2 5.00% 11/01/47 58 95 37 64%
9 OR FACS AUTH-A-REF 3.51% 07/01/41 27 64 37 137%
10 SAN FRANCISCO CA BAY 3.00% 08/01/37 21 57 36 171%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 2/26/21 – 3/5/21

RANK TRANCHE COUPON MATURITY DEALERS
1 NYC TRANS FIN-E-1 3.00% 02/01/51 31
2 TEXAS ST WTR DEV BRD 4.00% 04/15/51 31
3 LOS ANGELES DEPT OF 5.00% 05/15/46 30
4 SAN FRANCISCO CA BAY 3.00% 08/01/50 29
5 MASSACHUSETTS ST 5.00% 11/01/50 29
6 CALIFORNIA ST 5.00% 11/01/28 27
7 NEW YORK ST URBAN DEV 5.00% 03/15/38 27
8 DASNY-A-REF-GROUP 2 4.00% 03/15/37 27
9 NEW JERSEY ST TURNPIK 4.00% 01/01/42 26
10 NEW JERSEY ST-A 5.00% 06/01/29 26

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