Municipals
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Municipal Bond Market Summary:
Week Ending 8/13/21
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 8/6/21 – 8/13/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SULLIVAN CO-PUB IMPT | 3.00% | 04/01/34 | 4.60% | 115.03 | 109.97 |
| 2 | LEXINGTON INDL DEV | 3.00% | 12/01/30 | 1.87% | 111.63 | 109.58 |
| 3 | SOUTH CAROLINA ST JOB | 6.25% | 06/01/40 | 1.53% | 107.11 | 105.50 |
| 4 | PORT AUTH OF NEW YORK | 5.00% | 11/01/33 | 1.34% | 133.56 | 131.79 |
| 5 | SC PUB SVC AUTH-UNREF | 4.22% | 12/01/26 | 1.16% | 116.56 | 115.22 |
| 6 | LINCOLN PUB FIN-A-REF | 3.00% | 10/01/33 | 1.14% | 109.42 | 108.20 |
| 7 | S TX CMNTY CLG | 3.38% | 08/15/29 | 0.88% | 108.71 | 107.76 |
| 8 | GA ST HSG/FIN-B-1 | 2.25% | 12/01/26 | 0.80% | 106.10 | 105.27 |
| 9 | EAST CAROLINA UNIV-A | 3.38% | 10/01/39 | 0.75% | 110.69 | 109.86 |
| 10 | NAPA VLY USD-A | 4.00% | 08/01/33 | 0.74% | 115.66 | 114.81 |
Top 10 Losers
Showcases the top 10 Muni Bond “Losers” based on price movements between 8/6/21 – 8/13/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | GOOSE CREEK ISD-REF | 2.52% | 02/15/38 | -6.38% | 96.95 | 103.55 |
| 2 | LA DEPT OF APRTS-C | 3.89% | 05/15/38 | -5.83% | 111.06 | 117.94 |
| 3 | MICHIGAN ST STRATEGIC | 2.68% | 09/01/36 | -5.61% | 96.06 | 101.77 |
| 4 | NH MUNI BD BK -C | 2.00% | 08/15/46 | -4.42% | 94.41 | 98.78 |
| 5 | MET ST LOUIS SWR DT | 5.00% | 05/01/37 | -4.28% | 127.12 | 132.80 |
| 6 | WASHINGTONVILLE NY CE | 0.05% | 06/15/35 | -4.00% | 76.32 | 79.50 |
| 7 | PORT AUTH NY/NJ-TXBL | 4.03% | 09/01/48 | -3.07% | 121.94 | 125.80 |
| 8 | MT SAN ANTONIO CCD-B | 0.00% | 08/01/40 | -2.95% | 57.95 | 59.71 |
| 9 | WEYMOUTH TWN | 2.25% | 09/15/50 | -2.76% | 97.51 | 100.28 |
| 10 | HILLSBOROUGH CITY SD- | 0.00% | 09/01/39 | -2.74% | 58.40 | 60.04 |
Top 10 State Winners
Showcases the top 10 Muni State “Winners” based on yield movements between 8/6/21 – 8/13/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | MA | -20 bps | 1.72% | 1.91% |
| 2 | HI | -11 bps | 2.25% | 2.36% |
| 3 | KS | -9 bps | 2.43% | 2.52% |
| 4 | TN | -8 bps | 1.58% | 1.66% |
| 5 | IA | -7 bps | 1.58% | 1.65% |
| 6 | AZ | -5 bps | 1.92% | 1.97% |
| 7 | CO | -4 bps | 1.43% | 1.47% |
| 8 | NC | -3 bps | 1.35% | 1.37% |
| 9 | TX | -2 bps | 1.81% | 1.84% |
| 10 | NV | -2 bps | 1.87% | 1.89% |
Top 10 State Losers
Showcases the top 10 Muni State “Losers” based on yield movements between 8/6/21 – 8/13/21
| RANK | STATE | CHANGE | YLD | YLD-1W |
| 1 | DC | 39 bps | 1.80% | 1.42% |
| 2 | VA | 35 bps | 1.49% | 1.14% |
| 3 | OH | 21 bps | 1.85% | 1.64% |
| 4 | SC | 19 bps | 1.75% | 1.56% |
| 5 | GA | 17 bps | 1.76% | 1.59% |
| 6 | AL | 17 bps | 2.08% | 1.91% |
| 7 | FL | 13 bps | 1.67% | 1.54% |
| 8 | MD | 11 bps | 1.45% | 1.34% |
| 9 | PA | 10 bps | 2.28% | 2.18% |
| 10 | OK | 10 bps | 1.42% | 1.33% |
10 Year Yield by State – All
Displays the average Muni 10 year yield by state between 8/6/21 – 8/13/21 (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 8/6/21 – 8/13/21 (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 8/6/21 – 8/13/21 (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 8/6/21 – 8/13/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the Munis with the largest increase in quote volume for the week ending 8/6/21 vs. the week ending 8/13/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | DELAWARE STATE-REF | 3.00% | 02/01/34 | 7 | 60 | 53 | 757% |
| 2 | CHICAGO IL BRD OF EDU | 5.00% | 12/01/31 | 15 | 61 | 46 | 307% |
| 3 | CALIFORNIA ST HLTH FA | 4.00% | 04/01/45 | 21 | 67 | 46 | 219% |
| 4 | ILLINOIS ST FIN AUTH | 5.00% | 02/15/23 | 10 | 54 | 44 | 440% |
| 5 | CHICAGO IL BRD OF EDU | 5.00% | 12/01/33 | 13 | 53 | 40 | 308% |
| 6 | CHICAGO IL BRD OF EDU | 5.00% | 12/01/34 | 8 | 48 | 40 | 500% |
| 7 | LOS ANGELES DEPT ARPT | 1.71% | 05/15/31 | 1 | 41 | 40 | 4000% |
| 8 | TARRANT REGL WTR DT-A | 4.00% | 09/01/23 | 9 | 49 | 40 | 444% |
| 9 | LA PUB FACS AUTH -A-1 | 5.10% | 01/01/57 | 4 | 44 | 40 | 1000% |
| 10 | NEW HOPE CULT EDU -A | 5.00% | 07/01/57 | 4 | 43 | 39 | 975% |
Most Quoted Munis
Ranks the Munis that were quoted by the highest number of dealers between 8/6/21 – 8/13/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | NYC MUNI WTR FIN-AA-1 | 4.00% | 06/15/51 | 38 |
| 2 | MASSACHUSETTS ST DEV | 5.00% | 07/01/55 | 36 |
| 3 | NEW JERSEY ST TURNPIK | 4.00% | 01/01/51 | 29 |
| 4 | SNOHOMISH CNTY WA PUB | 5.00% | 12/01/51 | 28 |
| 5 | DASNY -A-REF | 5.00% | 03/15/34 | 25 |
| 6 | NYC MUNI WTR FIN-AA-1 | 5.00% | 06/15/48 | 25 |
| 7 | BLACK BELT ENERGY GAS | 4.00% | 06/01/51 | 25 |
| 8 | ENERGY NW ELEC REV | 5.00% | 07/01/40 | 25 |
| 9 | MI ST HSG DEV AUTH-A | 2.15% | 12/01/41 | 24 |
| 10 | VA CLG BLDG AUTH-A | 3.00% | 02/01/41 | 24 |
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