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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.

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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 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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