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Municipal Bond Market Summary:
Week Ending 9/10/21

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 9/3/21 – 9/10/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PENNSYLVANIA ST ECON 2.78% 06/15/35 7.03% 104.52 97.65
2 PR HWY/TRN-M-UNREF 5.00% 07/01/46 6.36% 54.00 50.77
3 SAN JOSE CA FING AUTH 2.81% 06/01/37 4.48% 98.32 94.10
4 VA ST CLG BLDG AUTH-B 2.11% 09/01/35 4.36% 96.74 92.70
5 PA TURNPIKE COMM 3.78% 12/01/42 2.94% 107.44 104.37
6 SANTA MONICA CA PUB 2.25% 07/01/51 2.45% 99.35 96.97
7 CHICAGO-TXB-REF-SER B 6.21% 01/01/32 2.29% 125.54 122.73
8 PARLIER UNIF SD -B 2.13% 08/01/42 2.19% 98.31 96.21
9 INDIANAPOLIS BOND BK 5.00% 01/01/37 1.90% 129.95 127.53
10 DUTCHESS CO LOC DEV C 2.00% 09/01/36 1.66% 99.78 98.14

Top 10 Losers

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

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 WILLITS USD-CABS-A-20 0.00% 07/15/34 -5.92% 77.28 82.14
2 SC PUB SVC AUTH-E-TXL 4.55% 12/01/30 -4.32% 119.70 125.10
3 DASNY -REV – F 3.11% 02/15/39 -3.75% 108.03 112.24
4 CLOVERDALE USD-A 4.00% 08/01/48 -3.27% 115.21 119.11
5 MISSOURI ST DEV FIN 3.00% 03/01/46 -3.24% 101.67 105.08
6 WEST MEMPHIS AR PUBLI 2.63% 12/01/51 -2.97% 99.74 102.79
7 ATLANTIC CNTY NJ IMPT 3.11% 06/01/51 -2.82% 100.06 102.97
8 SOUTH CAROLINA ST JOB 6.25% 06/01/40 -2.52% 104.43 107.13
9 NEW YORK CITY TRUST 5.00% 12/01/32 -2.13% 129.11 131.93
10 PORT OF MORROW OR TRA 2.54% 09/01/40 -1.99% 101.48 103.54

Top 10 State Winners

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

RANK STATE CHANGE YLD YLD-1W
1 MO -38 bps 2.09% 2.47%
2 NJ -36 bps 1.84% 2.20%
3 NV -34 bps 1.73% 2.07%
4 OH -18 bps 1.77% 1.95%
5 SC -17 bps 1.69% 1.86%
6 IL -15 bps 2.08% 2.23%
7 FL -15 bps 1.71% 1.85%
8 AL -15 bps 1.83% 1.98%
9 KS -14 bps 1.70% 1.84%
10 CT -14 bps 2.03% 2.17%

Top 10 State Losers

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

RANK STATE CHANGE YLD YLD-1W
1 MD 40 bps 1.90% 1.50%
2 WI 30 bps 2.49% 2.20%
3 DC 24 bps 2.06% 1.81%
4 IA 21 bps 1.94% 1.73%
5 TN 17 bps 1.89% 1.72%
6 NC 14 bps 1.29% 1.16%
7 UT 13 bps 1.61% 1.48%
8 TX 10 bps 2.24% 2.14%
9 MS 10 bps 1.56% 1.46%
10 OR 8 bps 1.84% 1.76%

10 Year Yield by State – All

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

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 9/3/21 vs. the week ending 9/10/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 UNIV OF OREGON 5.00% 04/01/50 20 67 47 235%
2 MICHIGAN ST TRUNK LIN 4.00% 11/15/44 40 73 33 83%
3 CONNECTICUT ST HSG FI 2.00% 11/15/36 15 47 32 213%
4 UNIV OF TEXAS TX-BOR 5.00% 08/15/49 30 61 31 103%
5 CONNECTICUT ST HSG FI 2.00% 11/15/36 20 51 31 155%
6 SCHERTZ-CIBOLO-UNIV 2.21% 02/01/45 14 45 31 221%
7 NASSAU CNTY NY INTERI 1.46% 11/15/29 7 38 31 443%
8 CALIFORNIA ST 5.00% 04/01/49 18 47 29 161%
9 NEW JERSEY ST-A 5.00% 06/01/28 99 128 29 29%
10 CONTRA COSTA CA WTR D 5.00% 10/01/51 39 67 28 72%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 9/3/21 – 9/10/21

RANK TRANCHE COUPON MATURITY DEALERS
1 CA HLTH FACS-A2 5.00% 11/01/47 27
2 NEW JERSEY ST-A 5.00% 06/01/28 27
3 TN ENERGY ACQ CORP-A 5.00% 05/01/52 26
4 NYC MUNI WTR FIN-AA-1 4.00% 06/15/51 26
5 NORFOLK -A 5.00% 03/01/33 24
6 NYC TRANSITIONAL-S-1A 4.00% 07/15/37 23
7 TEXAS ST MUNI PWR AGY 3.00% 09/01/46 23
8 ILLINOIS ST FIN AUTH 4.00% 07/01/37 23
9 MASSACHUSETTS ST DEV 5.00% 07/01/55 22
10 BLACK BELT ENERGY GAS 4.00% 06/01/51 22

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