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Municipal Bond Market Summary:
Week Ending 10/15/21

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 10/8/21 – 10/15/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR-REF-A 5.00% 07/01/20 3.88% 83.63 80.50
2 UNIV OF VIRGINIA VA U 2.58% 11/01/51 2.13% 99.79 97.71
3 LONG BEACH CCD -REF 1.88% 05/01/29 2.08% 102.07 99.99
4 JERSEY CITY-TXBL 3.13% 03/01/48 1.94% 99.70 97.80
5 FREMONT UNIF SD-B 2.75% 08/01/46 1.92% 98.41 96.56
6 MASSACHUSETTS ST-F 3.28% 06/01/46 1.84% 109.79 107.81
7 PENNSYLVANIA ST UNIV 2.89% 09/01/50 1.79% 103.08 101.27
8 UNIV OF VIRGINIA VA U 2.97% 09/01/49 1.75% 106.62 104.78
9 CMWLTH FING AUTH-A 3.81% 06/01/41 1.73% 116.34 114.37
10 INDIANA FIN AUTH-TXBL 3.05% 01/01/51 1.60% 103.34 101.71

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 10/8/21 – 10/15/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 LOS ANGELES-E-REF 2.43% 05/15/34 -6.95% 92.52 99.43
2 PHILADELPHIA SD-BABS 6.62% 06/01/30 -3.49% 121.12 125.51
3 PUB FIN AUTH-A-1 5.00% 01/01/55 -3.32% 109.96 113.73
4 CERES CA UNIF SCH DIS 2.75% 08/01/38 -3.25% 103.26 106.73
5 PR HWY/TRN-L-REF 5.25% 07/01/38 -2.30% 103.56 106.00
6 MAIN STREET NATURAL-A 5.00% 05/15/49 -2.22% 142.57 145.81
7 NE PUB PWR DT-C-REF 5.00% 01/01/30 -2.14% 129.18 132.00
8 DASNY-A-REF-GROUP 2 4.00% 03/15/36 -2.05% 118.49 120.97
9 VA PUB BLDG AUTH-A-1 5.00% 08/01/32 -1.99% 134.01 136.74
10 MASSACHUSETTS ST HSG 2.65% 12/01/29 -1.93% 100.65 102.62

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 10/8/21 – 10/15/21

RANK STATE CHANGE YLD YLD-1W
1 KS -105 bps 1.33% 2.38%
2 HI -100 bps 1.68% 2.68%
3 WI -82 bps 1.49% 2.31%
4 LA -58 bps 1.95% 2.53%
5 IA -56 bps 1.47% 2.03%
6 WA -50 bps 1.74% 2.24%
7 MD -49 bps 1.48% 1.98%
8 TN -49 bps 1.50% 1.98%
9 MI -42 bps 1.88% 2.30%
10 TX -42 bps 1.99% 2.41%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 10/8/21 – 10/15/21

RANK STATE CHANGE YLD YLD-1W
1 WV 21 bps 1.63% 1.42%
2 IL 9 bps 2.45% 2.37%
3 GA -2 bps 1.61% 1.63%
4 CO -2 bps 1.67% 1.69%
5 FL -7 bps 1.75% 1.81%
6 PA -7 bps 2.42% 2.49%
7 CT -7 bps 2.21% 2.28%
8 OH -8 bps 1.75% 1.83%
9 NC -8 bps 1.40% 1.48%
10 NJ -8 bps 2.35% 2.43%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 10/8/21 – 10/15/21 (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 10/8/21 – 10/15/21 (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 10/8/21 – 10/15/21 (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 10/8/21 – 10/15/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 10/8/21 vs. the week ending 10/15/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ESTRN MUNI WTR DT-A 4.00% 07/01/38 5 39 34 680%
2 NEW YORK CITY NY MUNI 4.00% 06/15/49 19 52 33 174%
3 NJ TRANSPRTN-A-REF 5.00% 06/15/30 3 35 32 1067%
4 PORT AUTH OF NEW YORK 5.00% 07/15/33 3 33 30 1000%
5 SALT LAKE-A-AMT 5.00% 07/01/46 34 64 30 88%
6 UNIV OF VA-B-REF 5.00% 04/01/44 34 63 29 85%
7 CALIFORNIA CO TOBACCO 4.00% 06/01/49 1 30 29 2900%
8 PENNSYLVANIA ST TURNP 4.00% 12/01/46 5 33 28 560%
9 OHIO ST 5.00% 06/15/25 5 33 28 560%
10 FL ST BOE PECO-B-REF 5.00% 06/01/30 13 41 28 215%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 10/8/21 – 10/15/21

RANK TRANCHE COUPON MATURITY DEALERS
1 MARYLAND ST 2ND SER A 5.00% 08/01/34 28
2 CALIFORNIA ST 4.00% 10/01/37 27
3 NEW YORK -A-1 5.00% 08/01/47 27
4 CALIFORNIA ST 4.00% 10/01/36 26
5 PENNSYLVANIA ST TURNP 4.00% 12/01/46 26
6 CALIFORNIA ST-REF 4.00% 10/01/41 25
7 NYC MUNI WTR FIN-BB-1 4.00% 06/15/45 25
8 TN ENERGY ACQ CORP-A 5.00% 05/01/52 24
9 CALIFORNIA ST 4.00% 10/01/39 24
10 CALIFORNIA ST-REF 5.00% 09/01/29 24

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