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Municipal Bond Market Summary:
Week Ending 8/27/21

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 8/20/21 – 8/27/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 ALLENTOWN PA NEIGHBOR 5.00% 05/01/32 2.26% 131.28 128.42
2 SPARTANBURG-B 3.55% 04/15/50 2.11% 109.19 106.94
3 CALIFORNIA-B-BABS 6.51% 04/01/39 1.92% 102.89 100.95
4 GARDEN GROVE USD 3.00% 08/01/40 1.81% 109.29 107.35
5 NYC TRANSTNL FIN-C3 3.50% 11/01/31 1.75% 112.77 110.83
6 VIRGINIA PUB BLDG-A 4.00% 08/01/35 1.73% 123.12 121.02
7 FORD CO SD #443-A 3.50% 03/01/36 1.70% 114.16 112.25
8 FORT WAYNE WTRWKS REV 0.05% 12/01/39 1.38% 70.04 69.09
9 CENT VLY SUPPORT-QSCB 5.88% 09/01/26 1.28% 121.05 119.52
10 WINTERS USD-C 5.00% 08/01/43 1.22% 117.30 115.89

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 8/20/21 – 8/27/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 UPPER TRINITY REGL WT 2.75% 08/01/39 -5.19% 107.60 113.49
2 NTHRN IL MUN PWR-BABS 7.82% 01/01/40 -3.97% 155.97 162.41
3 COOK SD#144-A-UNREF 4.63% 12/01/27 -3.66% 119.97 124.54
4 ORANGE UNIF SD-TXBL 2.30% 05/01/37 -3.14% 96.76 99.90
5 ATLANTIC CNTY NJ IMPT 2.62% 06/01/36 -2.89% 99.13 102.09
6 OK A&M CLG-B-TXBL 3.80% 08/01/28 -2.41% 116.13 119.00
7 IMPERIAL CA UNIF SCH 4.00% 08/01/47 -2.27% 112.58 115.19
8 NEW JERSEY ST TRANSPR 4.13% 06/15/42 -2.26% 114.22 116.86
9 PA TPK COMMN -BABS 6.11% 12/01/39 -2.16% 141.69 144.82
10 AKRON ETC JT TWP HOSP 4.00% 11/15/36 -2.13% 118.37 120.94

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 8/20/21 – 8/27/21

RANK STATE CHANGE YLD YLD-1W
1 KS -40 bps 1.76% 2.16%
2 LA -38 bps 1.60% 1.98%
3 DC -35 bps 1.49% 1.84%
4 SC -29 bps 1.54% 1.83%
5 MN -16 bps 1.42% 1.58%
6 MA -14 bps 1.71% 1.85%
7 NV -11 bps 1.85% 1.95%
8 HI -9 bps 2.34% 2.43%
9 VA -8 bps 1.37% 1.45%
10 AZ -8 bps 1.71% 1.79%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 8/20/21 – 8/27/21

RANK STATE CHANGE YLD YLD-1W
1 MO 60 bps 2.37% 1.77%
2 CO 30 bps 1.73% 1.44%
3 MD 23 bps 1.46% 1.23%
4 GA 22 bps 1.67% 1.46%
5 NH 14 bps 1.52% 1.37%
6 CA 13 bps 1.91% 1.77%
7 TX 12 bps 2.15% 2.02%
8 WI 11 bps 2.10% 1.98%
9 MI 11 bps 1.87% 1.76%
10 WA 9 bps 2.04% 1.95%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 8/20/21 – 8/27/21 (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 8/20/21 – 8/27/21 (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 8/20/21 – 8/27/21 (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 8/20/21 – 8/27/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 8/20/21 vs. the week ending 8/27/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 NEW YORK CITY INDL 4.00% 03/01/31 24 82 58 242%
2 RI ST HLTH & EDUCTNL 4.00% 05/15/32 23 65 42 183%
3 LOS ANGELES CO METRO 5.00% 07/01/46 33 74 41 124%
4 SEATTLE DRAIN WSTWTR 4.00% 04/01/36 5 45 40 800%
5 MET TRANSPRTN AUTH NY 5.00% 11/15/26 20 59 39 195%
6 CA EDL-STANFORD UNIV 5.25% 04/01/40 15 48 33 220%
7 LA CA DEPT OF ARPTS 5.00% 05/15/31 73 105 32 44%
8 MERCED UN HSD -F 2.00% 08/01/47 15 47 32 213%
9 UNIV OF CALIFORNIA-Q 5.00% 05/15/34 10 42 32 320%
10 UNIV OF S CAROLINA -A 5.00% 05/01/46 29 60 31 107%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 8/20/21 – 8/27/21

RANK TRANCHE COUPON MATURITY DEALERS
1 MASSACHUSETTS ST DEV 5.00% 07/01/55 28
2 BLACK BELT ENERGY GAS 4.00% 06/01/51 26
3 NEW JERSEY ST TURNPIK 4.00% 01/01/51 26
4 TN ENERGY ACQ CORP-A 5.00% 05/01/52 26
5 NYC MUNI WTR FIN-AA-1 4.00% 06/15/51 25
6 ILLINOIS ST FIN AUTH 4.00% 07/01/37 24
7 NYC TRANSITIONAL-S-1A 4.00% 07/15/37 24
8 NYC TRANSITIONAL-S-1A 4.00% 07/15/36 24
9 NYC TRANSITIONAL-S-1A 4.00% 07/15/34 23
10 VA CLG BLDG AUTH-A 3.00% 02/01/41 23

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