Municipals

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Municipal Bond Market Summary:
Week Ending 6/18/21

As demand for water begins increase due to extreme levels of heat in California, LOS ANGELES CALIF DEPT WTR 6.57% 07/01/45 bonds increased 1.8% over the past week to $165.92.

NYC GO Taxable Series D 1.216% due 08/01/2026 bonds decreased 2.1% last week to 99.18, breaking the par threshold as the bonds sold off in the face of upcoming NYC Mayoral elections and reduced interest in NYC bonds.

Muni Bond Sentiment was heavily negative last week as ‘Decliners’ outpaced ‘Advancers’ by a 4.4 to 1 as sellers were active and looking to trim positions.

The state of Georgia experienced was the MUNI state winner over the past week as investors bid up GA bonds over the past week.

Top 10 Winners

Showcases the top 10 Muni Bond “Winners” based on price movements between 6/11/21 – 6/18/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 ORANGE CT-A-TXBL 2.35% 06/01/41 4.66% 97.81 93.46
2 COAST CMNTY CLG DT 2.89% 08/01/35 3.41% 109.46 105.85
3 OTTAWA CO-SWR DISP 3.13% 06/01/35 3.10% 110.37 107.04
4 CHARLOTTE-MECKLENBURG 3.20% 01/15/51 2.60% 106.39 103.70
5 PARAMOUNT USD -C-REF 4.00% 08/01/39 2.36% 122.81 119.98
6 CA UNIV REVENUE-B 3.90% 11/01/47 2.08% 117.44 115.05
7 MA COMMONWEALTH 2.90% 09/01/49 2.05% 106.60 104.46
8 SPRINGDALE PUB FAC BR 5.00% 03/01/32 1.99% 120.69 118.33
9 DETROIT-B-1-FINL 4.00% 04/01/44 1.84% 97.00 95.25
10 LA DEPT WTR & PWR-BAB 6.57% 07/01/45 1.82% 165.92 162.95

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 6/11/21 – 6/18/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 SAN YSIDRO SD-F-CABS 0.00% 08/01/41 -3.47% 62.11 64.34
2 ALVORD USD-B-CABS 0.00% 08/01/36 -3.12% 69.21 71.44
3 S JERSEY TRANSPRTN AU 2.38% 11/01/27 -2.52% 102.48 105.13
4 STAFFORD MUNI SD 3.08% 08/15/41 -2.50% 107.19 109.93
5 GREENVILLE REV-A-REF 3.00% 05/01/35 -2.20% 113.35 115.89
6 NORTHSIDE TX ISD-REF 1.94% 08/15/32 -2.19% 99.94 102.17
7 NYC -TXBL -REF -D 1.22% 08/01/26 -2.12% 99.18 101.33
8 ORANGE CT-A-TXBL 2.00% 06/01/34 -2.11% 97.78 99.89
9 FALL RIVER MA 2.00% 12/01/41 -2.09% 96.94 99.01
10 NYS DORM-F-BABS-UNREF 5.63% 03/15/39 -2.07% 129.86 132.60

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 6/11/21 – 6/18/21

RANK STATE CHANGE YLD YLD-1W
1 GA -60 bps 1.43% 2.03%
2 WI -46 bps 1.77% 2.23%
3 MA -22 bps 1.51% 1.73%
4 HI -20 bps 2.17% 2.37%
5 SC -13 bps 1.75% 1.88%
6 CT -13 bps 1.89% 2.01%
7 MN -9 bps 1.66% 1.74%
8 NY -2 bps 1.71% 1.73%
9 IL -2 bps 2.08% 2.10%
10 VA -2 bps 1.46% 1.48%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 6/11/21 – 6/18/21

RANK STATE CHANGE YLD YLD-1W
1 FL 49 bps 1.82% 1.33%
2 LA 36 bps 1.99% 1.64%
3 OR 32 bps 1.90% 1.58%
4 MO 21 bps 2.10% 1.89%
5 DE 17 bps 1.26% 1.09%
6 VT 14 bps 1.73% 1.59%
7 KS 10 bps 2.55% 2.45%
8 NJ 9 bps 2.07% 1.98%
9 ME 9 bps 1.25% 1.16%
10 NV 9 bps 1.93% 1.84%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 6/11/21 – 6/18/21 (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 6/11/21 – 6/18/21 (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 6/11/21 – 6/18/21 (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 6/11/21 – 6/18/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 6/11/21 vs. the week ending 6/18/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 NEW YORK ST URBAN DEV 5.00% 03/15/32 12 63 51 425%
2 MARYLAND ST-A 5.00% 03/01/33 26 72 46 177%
3 TX WTR DEV BRD-A 5.00% 04/15/24 2 47 45 2250%
4 DIST OF COLUMBIA 4.00% 06/01/36 8 50 42 525%
5 DASNY-A-REF-GROUP 2 4.00% 03/15/34 30 71 41 137%
6 OREGON-F-ARTICLE XI-Q 5.00% 05/01/32 6 46 40 667%
7 DIST OF COLUMBIA-D 4.00% 06/01/33 6 45 39 650%
8 LOS ANGELES DEPT OF 5.00% 05/15/38 12 51 39 325%
9 DASNY-A-REF-GROUP 2 5.00% 03/15/32 14 53 39 279%
10 MET GOVT NASHVILLE 4.00% 07/01/36 14 52 38 271%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 6/11/21 – 6/18/21

RANK TRANCHE COUPON MATURITY DEALERS
1 HOUSTON-A-REV-REF 4.00% 11/15/51 27
2 ALAMO CMNTY CLG DIST 4.00% 08/15/39 26
3 PR SALES TAX FING-A1 0.00% 07/01/51 25
4 NEW YORK ST URBAN DEV 5.00% 03/15/33 24
5 DASNY-A 4.00% 07/01/48 24
6 ALAMO CMNTY CLG DIST 4.00% 08/15/38 23
7 LOS ANGELES DEPT OF 5.00% 05/15/46 23
8 ENERGY NW ELEC REV 5.00% 07/01/40 23
9 NEW YORK NY 4.00% 03/01/38 23
10 LAMAR CONSOL ISD 3.00% 02/15/51 22

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