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Municipal Bond Market Summary:
Week Ending 11/12/21

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 11/5/21 – 11/12/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 NJ INFRASTRUCTURE BK 2.00% 09/01/46 4.37% 96.35 92.31
2 TOLEDO LUCAS  PORT-D 3.00% 11/15/46 3.31% 102.41 99.13
3 SAN DIEGO WTR AUTH-A 1.95% 05/01/34 3.29% 100.44 97.24
4 ROUND ROCK-B-CTFS 2.00% 08/15/40 3.22% 96.86 93.84
5 HARRISONBURG -A-REF 2.00% 07/15/45 3.15% 95.20 92.29
6 PARIS -CTFS OBLIG 2.00% 12/15/41 3.02% 94.92 92.14
7 CENTRL PUGET TRANS-S1 5.00% 11/01/46 2.78% 153.14 149.00
8 IDAHO ST HLTH FACS AU 4.00% 03/01/51 2.72% 117.47 114.36
9 SEQUOIAS CLG IMPT#3-B 0.00% 08/01/40 2.68% 64.96 63.26
10 CECIL CO 2.13% 08/01/46 2.63% 96.73 94.26

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 11/5/21 – 11/12/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 BRAZORIA CO MUD #22 2.13% 09/01/40 -2.60% 94.48 97.01
2 CALIFORNIA ST DEPT OF 1.41% 12/01/29 -1.46% 97.06 98.50
3 FARMVILLE TWN INDL-A 5.00% 01/01/50 -1.45% 115.11 116.81
4 ST JOHNS PUB SCHS-REF 2.00% 05/01/33 -1.38% 98.84 100.22
5 BAY AREA TOLL AUTH-F1 5.00% 04/01/56 -1.21% 121.72 123.20
6 CONNECTICUT ST-A 3.50% 04/15/31 -1.18% 110.54 111.86
7 LOUISIANA ST GO-AGM 2.34% 02/01/33 -1.16% 100.21 101.38
8 DECATUR-B-TXBL 2.90% 08/15/45 -1.15% 100.88 102.06
9 ROUND ROCK TX 5.00% 08/15/24 -1.15% 111.88 113.18
10 TENNESSEE ST SCH-A 1.81% 11/01/34 -1.14% 96.85 97.96

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 11/5/21 – 11/12/21

RANK STATE CHANGE YLD YLD-1W
1 HI -40 bps 2.26% 2.65%
2 OR -34 bps 1.73% 2.07%
3 AZ -31 bps 1.60% 1.90%
4 CO -29 bps 1.46% 1.74%
5 MI -23 bps 1.94% 2.17%
6 DC -22 bps 2.06% 2.28%
7 WI -22 bps 2.20% 2.41%
8 WA -20 bps 2.06% 2.26%
9 CT -20 bps 2.29% 2.49%
10 NE -19 bps 1.66% 1.85%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 11/5/21 – 11/12/21

RANK STATE CHANGE YLD YLD-1W
1 KS 19 bps 2.25% 2.06%
2 IA 15 bps 2.07% 1.92%
3 NJ 13 bps 2.01% 1.87%
4 DE 9 bps 1.51% 1.42%
5 TX 5 bps 2.31% 2.26%
6 NY 4 bps 2.26% 2.22%
7 MT 4 bps 1.60% 1.56%
8 SC 3 bps 1.97% 1.94%
9 GA -3 bps 1.80% 1.83%
10 LA -4 bps 2.37% 2.41%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 11/5/21 – 11/12/21 (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 11/5/21 – 11/12/21 (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 11/5/21 – 11/12/21 (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 11/5/21 – 11/12/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 11/5/21 vs. the week ending 11/12/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 SEATTLE-REF 4.00% 08/01/32 4 56 52 1300%
2 NEW JERSEY ST TRANSPR 5.00% 12/15/26 58 100 42 72%
3 GA ST-A-REF 4.00% 07/01/38 9 49 40 444%
4 NY ST URBAN DEV CORP- 4.00% 03/15/43 40 75 35 88%
5 WA MET AREA TRANSIT-A 5.00% 07/15/46 26 60 34 131%
6 TRIBOROUGH BRID-C-1A 5.00% 05/15/51 33 66 33 100%
7 NYC TRANSITIONAL-S-1A 4.00% 07/15/34 80 112 32 40%
8 OCEANSIDE UNIF SD -A 4.00% 08/01/41 10 42 32 320%
9 PHOENIX AZ CIVIC IMPT 4.00% 07/01/41 4 34 30 750%
10 TEXAS PRIV ACTIVITY 5.00% 06/30/58 6 36 30 500%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 11/5/21 – 11/12/21

RANK TRANCHE COUPON MATURITY DEALERS
1 NYC MUNI WTR FIN-BB-1 4.00% 06/15/45 31
2 CALIFORNIA ST-REF 5.00% 09/01/29 28
3 NYC MUNI WTR FIN-AA-1 4.00% 06/15/51 27
4 SALT LAKE-A-AMT 5.00% 07/01/46 25
5 NEW YORK ST DORM AUTH 5.00% 10/01/50 24
6 MARYLAND STADIUM AUTH 2.75% 06/01/51 23
7 LOS ANGELES DEPT OF 5.00% 05/15/46 22
8 CALIFORNIA ST 4.00% 10/01/37 22
9 NYC MUNI WTR FIN-BB-1 4.00% 06/15/39 22
10 NYC TRANSITIONAL-S-1A 4.00% 07/15/34 22

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