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Municipal Bond Market Summary:
Week Ending 9/3/21

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 8/27/21 – 9/3/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PUB IMPT-SER A-PSA 5.00% 07/01/28 2.22% 93.28 91.25
2 WISCONSIN-A-REF-TXBL 3.95% 05/01/36 1.97% 113.62 111.43
3 EL SEGUNDO UNIF SD-B 2.00% 08/01/48 1.90% 94.49 92.72
4 CHICAGO-TXB-REF-SER B 6.21% 01/01/32 1.89% 122.73 120.45
5 HENRICO CNTY-TXBL-B 1.81% 05/01/35 1.74% 98.10 96.43
6 GEORGIA ST -B -GROUP 1.45% 08/01/34 1.66% 96.81 95.22
7 TIFT CO HOSP AUTH-REV 2.98% 12/01/42 1.55% 104.04 102.45
8 SANTA CLARA USD 5.00% 07/01/25 1.52% 117.07 115.32
9 AVON-B-REF 1.93% 12/01/32 1.52% 99.23 97.75
10 DULUTH MN ECON DEV AU 3.00% 06/15/44 1.37% 104.66 103.25

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 8/27/21 – 9/3/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 RIVERSIDE CO-TXBL-REV 3.82% 02/15/38 -8.18% 104.45 113.76
2 VA ST CLG BLDG AUTH-B 2.11% 09/01/35 -7.21% 92.70 99.91
3 SAN JOSE CA FING AUTH 2.81% 06/01/37 -6.81% 94.10 100.98
4 PENNSYLVANIA ST ECON 2.78% 06/15/35 -6.71% 97.65 104.67
5 SANTA MONICA MALIBU 2.34% 08/01/37 -4.38% 96.23 100.64
6 BROOKINGS SD#05-1-REF 2.37% 08/01/37 -4.17% 97.07 101.29
7 E RUTHERFORD BORO BOE 2.00% 07/15/33 -2.96% 101.19 104.28
8 CSCDA CMNTY IMPT AUTH 3.00% 02/01/57 -2.66% 100.98 103.74
9 LOUISIANA ST PUBLIC 2.28% 06/01/30 -2.57% 100.90 103.56
10 MEMPHIS-IMPT-B-BABS 6.15% 05/01/30 -2.49% 136.58 140.07

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 8/27/21 – 9/3/21

RANK STATE CHANGE YLD YLD-1W
1 GA -31 bps 1.37% 1.68%
2 CO -26 bps 1.47% 1.73%
3 NC -15 bps 1.16% 1.31%
4 IL -7 bps 2.24% 2.31%
5 WA -4 bps 2.00% 2.04%
6 MI -4 bps 1.84% 1.87%
7 NH -4 bps 1.48% 1.52%
8 NE -3 bps 1.78% 1.81%
9 DE -3 bps 1.35% 1.38%
10 IA -3 bps 1.80% 1.83%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 8/27/21 – 9/3/21

RANK STATE CHANGE YLD YLD-1W
1 MA 41 bps 2.11% 1.70%
2 DC 35 bps 1.84% 1.48%
3 LA 31 bps 1.95% 1.64%
4 SC 31 bps 1.85% 1.54%
5 MN 31 bps 1.73% 1.42%
6 HI 30 bps 2.64% 2.34%
7 AL 24 bps 2.04% 1.79%
8 NV 22 bps 2.07% 1.85%
9 FL 20 bps 1.86% 1.66%
10 KS 16 bps 1.92% 1.76%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 8/27/21 – 9/3/21 (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 8/27/21 – 9/3/21 (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 8/27/21 – 9/3/21 (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 8/27/21 – 9/3/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 8/27/21 vs. the week ending 9/3/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 POMPANO BEACH -REF 5.00% 09/01/50 1 58 57 5700%
2 PUERTO RICO CMWLTH AQ 5.00% 07/01/47 11 67 56 509%
3 ENERGY NW ELEC REV 4.00% 07/01/42 27 72 45 167%
4 LYNWOOD UNIF SCH DT-E 3.00% 08/01/48 5 46 41 820%
5 CALIFORNIA ST HLTH FA 4.00% 06/01/50 17 57 40 235%
6 WISCONSIN ST TRANSPRT 5.00% 07/01/26 13 52 39 300%
7 SAN ANTONIO EDU FACS 2.73% 04/01/31 43 81 38 88%
8 WASHINGTON ST -A 5.00% 08/01/35 33 67 34 103%
9 GRAND RAPIDS-TXBL-REF 1.76% 01/01/30 20 51 31 155%
10 UNIV OF WASHINGTON-B 5.00% 06/01/32 17 47 30 176%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 8/27/21 – 9/3/21

RANK TRANCHE COUPON MATURITY DEALERS
1 NYC TRANSITIONAL-S-1A 4.00% 07/15/37 27
2 NYC MUNI WTR FIN-AA-1 4.00% 06/15/51 26
3 BLACK BELT ENERGY GAS 4.00% 06/01/51 26
4 NORFOLK -A 5.00% 03/01/33 24
5 TN ENERGY ACQ CORP-A 5.00% 05/01/52 24
6 MASSACHUSETTS ST DEV 5.00% 07/01/55 24
7 TEXAS ST MUNI PWR AGY 3.00% 09/01/46 23
8 ENERGY NW ELEC REV 5.00% 07/01/40 23
9 NEW JERSEY ST TURNPIK 4.00% 01/01/51 23
10 NYC TRANSITIONAL-S-1A 4.00% 07/15/36 23

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