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Municipal Bond Market Summary:
Week Ending 10/1/21

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 9/24/21 – 10/1/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR-REF-A 4.13% 07/01/22 3.22% 83.61 81.00
2 MARYLAND ST HLTH&HG-A 3.13% 07/01/35 2.09% 106.58 104.40
3 NEW YORK ST URBAN DEV 4.00% 03/15/38 1.80% 120.34 118.21
4 HAMILTON CMNTY SCHS 3.13% 05/01/46 1.38% 108.94 107.46
5 BARBERS HILL-REF 4.00% 02/15/25 1.15% 110.98 109.72
6 HUTTO -CTFS OBLIG 3.38% 08/01/40 1.04% 108.85 107.73
7 MIAMI UNIV OH 4.00% 09/01/37 0.93% 120.48 119.37
8 ILLINOIS HSG DEV-C 2.75% 07/01/51 0.83% 100.83 100.00
9 ANAHEIM CA HSG& PUB-B 2.89% 10/01/33 0.83% 103.21 102.36
10 NEW YORK CITY -D-3 2.22% 03/01/35 0.83% 99.91 99.09

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 9/24/21 – 10/1/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR HWY/TRN-CC-REF 5.25% 07/01/34 -6.64% 103.74 111.12
2 VA ST CMWLTH UNIV-A 4.96% 01/01/44 -5.42% 134.85 142.57
3 UNIV VA-A-TXBL 3.23% 09/01/19 -4.49% 101.03 105.79
4 NEW ORLEANS LA WTR RE 2.34% 12/01/36 -4.47% 96.31 100.82
5 ESSEX CNTY NJ IMPT AU 4.00% 06/15/51 -4.17% 110.76 115.58
6 NEW YORK MTGE AGY-213 3.65% 10/01/30 -3.93% 107.89 112.31
7 CORPUS CHRISTI UTL-B 2.81% 07/15/40 -3.90% 100.40 104.48
8 UNIV OF CALIFORNIA CA 3.71% 05/15/20 -3.85% 107.81 112.13
9 FLORIDA DOT TPK-B 2.00% 07/01/44 -3.80% 92.26 95.91
10 CSCDA CMNTY IMPT AUTH 3.13% 08/01/56 -3.65% 95.39 99.00

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 9/24/21 – 10/1/21

RANK STATE CHANGE YLD YLD-1W
1 MI -33 bps 1.79% 2.12%
2 NJ -23 bps 2.11% 2.34%
3 OR -22 bps 1.78% 2.00%
4 OH -19 bps 1.81% 2.00%
5 MA -17 bps 2.25% 2.41%
6 MN -13 bps 1.73% 1.86%
7 WA -12 bps 2.19% 2.30%
8 SC -7 bps 1.69% 1.76%
9 CO -4 bps 1.51% 1.55%
10 MD -4 bps 1.72% 1.76%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 9/24/21 – 10/1/21

RANK STATE CHANGE YLD YLD-1W
1 KS 57 bps 2.52% 1.96%
2 NV 39 bps 1.89% 1.50%
3 LA 34 bps 2.26% 1.92%
4 AL 29 bps 2.17% 1.88%
5 UT 27 bps 1.88% 1.61%
6 DC 25 bps 2.22% 1.96%
7 NY 23 bps 2.06% 1.83%
8 IA 22 bps 2.13% 1.92%
9 MS 19 bps 1.79% 1.59%
10 IL 19 bps 2.34% 2.14%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 9/24/21 – 10/1/21 (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 9/24/21 – 10/1/21 (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 9/24/21 – 10/1/21 (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 9/24/21 – 10/1/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 9/24/21 vs. the week ending 10/1/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 TN HSG DEV AGY-2021-1 2.40% 01/01/46 14 76 62 443%
2 DALLAS TX AREA RAPID 5.00% 12/01/33 10 58 48 480%
3 UNIV OF S CAROLINA -A 4.00% 05/01/51 16 63 47 294%
4 GEORGIA HSG&FIN AUTH 2.50% 06/01/50 36 81 45 125%
5 MASSACHUSETTS ST TRAN 5.00% 06/01/49 28 71 43 154%
6 MEMPHIS-REF 5.00% 05/01/32 16 57 41 256%
7 BELL CO-CTFS OBLIG 5.00% 02/15/31 14 54 40 286%
8 BELL CO-CTFS OBLIG 5.00% 02/15/30 10 49 39 390%
9 NJ TPK AUTH -B-TXBL 1.71% 01/01/29 16 55 39 244%
10 CLINTON CMNTY SCHS 4.00% 05/01/44 11 49 38 345%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 9/24/21 – 10/1/21

RANK TRANCHE COUPON MATURITY DEALERS
1 NEW YORK -A-1 5.00% 08/01/47 32
2 MARYLAND ST 2ND SER A 5.00% 08/01/34 28
3 CA HLTH FACS-A2 5.00% 11/01/47 28
4 NEW JERSEY ST-A 5.00% 06/01/28 26
5 WASHINGTON ST -A 5.00% 08/01/40 26
6 CALIFORNIA ST 4.00% 10/01/37 25
7 CALIFORNIA ST 4.00% 10/01/36 24
8 CALIFORNIA ST-REF 4.00% 10/01/41 24
9 DASNY-A-REF-GROUP 2 5.00% 03/15/31 22
10 CALIFORNIA ST 4.00% 10/01/39 22

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