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Municipal Bond Market Summary:
Week Ending 7/23/21

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 7/16/21 – 7/23/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR COMWLTH SER A 5.25% 07/01/33 6.43% 94.90 89.17
2 TOMPKINS CO IDA-A 3.50% 10/01/51 3.41% 104.96 101.50
3 COACHELLA VY USD CAB 0.00% 08/01/34 2.98% 80.29 77.97
4 JEFFERSON UN HSD 2.63% 08/01/44 2.95% 105.05 102.04
5 CONNECTICUT ST-A 4.00% 05/01/40 2.74% 123.67 120.37
6 WEST VIRGINIA ST HOSP 4.13% 01/01/47 2.66% 114.91 111.93
7 DALLAS AREA RAPID 4.92% 12/01/41 2.18% 136.86 133.94
8 LAKELAND-REF-B-AMT 4.00% 10/01/36 1.99% 121.61 119.24
9 HARRIS CO MUD #460 2.25% 04/01/43 1.92% 98.81 96.95
10 CO ST HLTH FACS AUTH 3.25% 08/01/49 1.92% 108.23 106.20

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 7/16/21 – 7/23/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 TENNESSEE HSG DEV AGY 2.46% 07/01/31 -3.33% 104.77 108.38
2 EAST CAROLINA NC UNIV 2.17% 10/01/31 -3.23% 104.43 107.91
3 DASNY -TXBL-REF 2.35% 07/01/31 -3.01% 102.16 105.33
4 TENNESSEE ST -B-REF 1.93% 11/01/34 -2.83% 101.76 104.73
5 AUSTIN TX ARPT SYS RE 5.00% 11/15/38 -2.39% 129.40 132.57
6 HAWAII ST-FZ 1.40% 08/01/30 -2.30% 98.23 100.54
7 PARAMOUNT USD-CABS 0.00% 08/01/36 -2.21% 73.03 74.68
8 PENNSYLVANIA ST UNIV 2.84% 09/01/50 -1.87% 103.59 105.56
9 ROCK HILL UTIL-A-REF 3.00% 01/01/44 -1.75% 108.01 109.94
10 ROMEO MI CMNTY SD-II 2.13% 05/01/40 -1.74% 101.86 103.66

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 7/16/21 – 7/23/21

RANK STATE CHANGE YLD YLD-1W
1 KS -58 bps 1.74% 2.32%
2 NV -32 bps 1.91% 2.23%
3 HI -32 bps 2.18% 2.50%
4 SC -31 bps 1.41% 1.72%
5 IA -27 bps 1.40% 1.67%
6 IL -19 bps 1.97% 2.16%
7 AL -16 bps 1.56% 1.71%
8 DC -14 bps 1.39% 1.54%
9 CA -14 bps 1.77% 1.91%
10 OR -14 bps 1.46% 1.60%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 7/16/21 – 7/23/21

RANK STATE CHANGE YLD YLD-1W
1 AZ 21 bps 1.97% 1.77%
2 WI 14 bps 1.99% 1.84%
3 MN 14 bps 1.83% 1.70%
4 VA 12 bps 1.41% 1.29%
5 WA 12 bps 1.77% 1.65%
6 MS 12 bps 1.44% 1.33%
7 TX 10 bps 1.90% 1.80%
8 NY 10 bps 1.55% 1.45%
9 GA 10 bps 1.63% 1.54%
10 CO 9 bps 1.42% 1.32%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 7/16/21 – 7/23/21 (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 - 7.26.21

10 Year Yield by State – GO Only

Displays the average Muni 10 year yield by state between 7/16/21 – 7/23/21 (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 - 7.26.21

10 Year Yield by State – Rev Only

Displays the average Muni 10 year yield by state between 7/16/21 – 7/23/21 (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 - 7.26.21v2

Sentiment

Reveals the percent of Muni bonds increasing in price (advancers) vs. decreasing in price (decliners) between 7/16/21 – 7/23/21

Muni Sentiment - 7.26.21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 7/16/21 vs. the week ending 7/23/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 MET PIER 0.00% 06/15/45 15 75 60 400%
2 NYC TRANS FIN-C-REF 5.00% 11/01/32 13 71 58 446%
3 N DAVIS SWR DT-B-REF 1.29% 03/01/27 5 58 53 1060%
4 N DAVIS SWR DT-B-REF 1.65% 03/01/29 5 58 53 1060%
5 TEXAS ST WTR DEV BRD 4.00% 04/15/51 3 52 49 1633%
6 MASSACHUSETTS PORT-D 5.00% 07/01/46 10 57 47 470%
7 NEW JERSEY ST 2.00% 06/01/36 20 67 47 235%
8 LEWISVILLE ISD 5.00% 08/15/26 6 52 46 767%
9 ATL ARPT PASS FAC-A 5.00% 01/01/27 12 57 45 375%
10 UNIV OF NC CHAPEL HIL 5.00% 12/01/37 74 119 45 61%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 7/16/21 – 7/23/21

RANK TRANCHE COUPON MATURITY DEALERS
1 WEST VIRGINIA ST PARK 4.00% 06/01/51 33
2 IN FIN AUTH-REF-1 4.00% 10/01/36 32
3 NEW JERSEY ST TURNPIK 4.00% 01/01/51 31
4 NYC MUNI WTR FIN-AA-1 4.00% 06/15/51 29
5 PORT OF SEATTLE WA-C 5.00% 08/01/46 28
6 IN FIN AUTH-REF-1 4.00% 10/01/35 28
7 UPPER TRINITY REGL 3.00% 08/01/51 26
8 UNIV OF NC CHAPEL HIL 5.00% 12/01/38 26
9 MASSACHUSETTS ST DEV 5.00% 07/01/55 25
10 BLACK BELT ENERGY GAS 4.00% 06/01/51 25

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