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Municipal Bond Market Summary:
Week Ending 6/25/21

SAN JOSE CA ARPT REVENUE bonds were our top Muni Winner last week with a 4.8% increase to 107.83 as travel steadily increases and JetBlue airlines returns to the international airport.

DOWNEY UNIF SD-C lands on the Municipal Bond ‘Loser’ list with a -2.4% price change over the past week to 92.66 after news that funding will be diverted to the police rather than schools next year.

Muni ‘Decliners’ continue to outpace ‘Advancers’ during the last full week of June, 6:1 as muni bond prices are overwhelmingly quoted lower each day.

Hawaii was the weekly Muni Bond State ‘Winner’ ending the week with a 1.53% 10 yr yield.

Quick Links

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 6/18/21 – 6/25/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 SAN JOSE-C-REF-BAM 3.14% 03/01/38 4.79% 107.83 102.91
2 WESTLAND -TXBL 2.51% 11/01/40 3.05% 100.16 97.20
3 BURBANK ETC ARPT-B 5.56% 07/01/32 2.63% 122.82 119.67
4 LOS ANGELES DEPT ARPT 5.00% 05/15/48 2.31% 126.84 123.98
5 PUERTO RICO-REF-D 5.75% 07/01/41 2.20% 89.28 87.36
6 HARRIS CNTY TX MET TR 2.99% 11/01/41 2.17% 102.82 100.63
7 UPPER SANTA CLARA VY 1.18% 08/01/26 2.15% 101.81 99.67
8 CA MUNI FIN AUTH-TXBL 2.52% 10/01/35 1.88% 98.23 96.42
9 NY ST URBAN DEV-E-4 3.00% 03/15/47 1.58% 107.39 105.72
10 IOWA ST HGR EDU LOAN 3.03% 12/01/51 1.45% 106.44 104.92

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 6/18/21 – 6/25/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 OCEANSIDE USD-C 0.00% 08/01/43 -4.75% 58.86 61.79
2 SAN LUIS ETC WTR-B 1.48% 03/01/27 -3.72% 100.48 104.37
3 LOS ANGELES REDEV-C 6.00% 09/01/32 -3.48% 127.84 132.45
4 SAN BERNARDINO-TXBL-G 2.73% 08/01/37 -2.82% 99.61 102.50
5 ASHLAND MA 2.13% 05/15/46 -2.70% 96.57 99.25
6 DAVIE WTR & SWR-TXBL 2.32% 10/01/30 -2.64% 104.28 107.11
7 ALVORD USD-B-CABS 0.00% 08/01/36 -2.56% 67.44 69.21
8 BEAVERTON SCHS-I 2.00% 05/01/39 -2.56% 96.28 98.81
9 DOWNEY UNIF SD-C 2.00% 08/01/42 -2.40% 92.66 94.94
10 WILLITS USD-A 2.00% 08/01/50 -2.40% 95.15 97.49

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 6/18/21 – 6/25/21

RANK STATE CHANGE YLD YLD-1W
1 HI -64 bps 1.53% 2.17%
2 KS -55 bps 2.01% 2.56%
3 SC -49 bps 1.29% 1.78%
4 MO -44 bps 1.66% 2.10%
5 IA -37 bps 1.29% 1.65%
6 LA -36 bps 1.62% 1.98%
7 DC -32 bps 1.39% 1.71%
8 OR -30 bps 1.60% 1.90%
9 FL -29 bps 1.54% 1.83%
10 OH -26 bps 1.38% 1.64%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 6/18/21 – 6/25/21

RANK STATE CHANGE YLD YLD-1W
1 NE 24 bps 1.83% 1.58%
2 NY 8 bps 1.79% 1.70%
3 DE 7 bps 1.31% 1.25%
4 MA 7 bps 1.61% 1.54%
5 WA 5 bps 1.72% 1.67%
6 ME 5 bps 1.31% 1.26%
7 GA 3 bps 1.46% 1.43%
8 WV -1 bps 1.31% 1.32%
9 IL -2 bps 2.07% 2.09%
10 TX -2 bps 1.83% 1.86%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 6/18/21 – 6/25/21 (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 - 6.28.21

10 Year Yield by State – GO Only

Displays the average Muni 10 year yield by state between 6/18/21 – 6/25/21 (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 - 6.28.21

10 Year Yield by State – Rev Only

Displays the average Muni 10 year yield by state between 6/18/21 – 6/25/21 (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 - 6.28.21

Sentiment

Reveals the percent of Muni bonds increasing in price (advancers) vs. decreasing in price (decliners) between 6/18/21 – 6/25/21

Sentiment - 6.28.21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 6/18/21 vs. the week ending 6/25/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BLACK BELT ENERGY GAS 4.00% 06/01/51 58 106 48 83%
2 DETROIT-B-1-FINL 4.00% 04/01/44 29 75 46 159%
3 NYC TRANSITIONAL FIN 4.00% 05/01/45 17 55 38 224%
4 FORT WORTH-REF 4.00% 02/15/28 36 73 37 103%
5 HENNEPIN CO MN -B 5.00% 12/15/33 4 38 34 850%
6 JACKSON CO SCH DT#549 3.00% 12/15/41 8 42 34 425%
7 NASSAU CO INTERIM-A 4.00% 11/15/34 42 76 34 81%
8 NEW YORK ST DORM AUTH 4.00% 02/15/49 21 55 34 162%
9 BUFFALO -A-REF 5.00% 04/01/26 7 38 31 443%
10 WISCONSIN ST-REV-A 5.00% 07/01/25 18 49 31 172%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 6/18/21 – 6/25/21

RANK TRANCHE COUPON MATURITY DEALERS
1 HOUSTON-A-REV-REF 4.00% 11/15/51 27
2 PR SALES TAX FING-A1 0.00% 07/01/51 27
3 ALAMO CMNTY CLG DIST 4.00% 08/15/39 27
4 IN FIN AUTH-REF-1 4.00% 10/01/36 24
5 ENERGY NW ELEC REV 4.00% 07/01/42 24
6 DASNY-A 4.00% 07/01/48 24
7 WEST VIRGINIA ST PARK 4.00% 06/01/51 24
8 ENERGY NW ELEC REV 5.00% 07/01/40 23
9 NYC MUNI WTR FIN-DD 5.00% 06/15/26 23
10 ALAMO CMNTY CLG DIST 4.00% 08/15/38 23

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