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Municipal Bond Market Summary:
Week Ending 12/31/21

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 12/23/21 – 12/31/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CA LOSHGR 3 08/01/2039 3.00% 08/01/39 1.17% 109.16 107.89
2 NY WCH 2.1 10/15/2034 2.10% 10/15/34 1.10% 98.39 97.33
3 CA BYRSCD 2.2 08/01/2031 2.20% 08/01/31 0.99% 102.56 101.55
4 CA MNBGEN 2.49 01/01/2033 2.49% 01/01/33 0.97% 102.77 101.78
5 CT NAU 2.94 09/15/2041 2.94% 09/15/41 0.86% 101.66 100.79
6 CA TUSEDU 2.25 08/01/2036 2.25% 08/01/36 0.78% 99.75 98.98
7 CA SDGWTR 1.95 05/01/2034 1.95% 05/01/34 0.63% 99.21 98.59
8 CA DOWGEN 2.05 06/01/2032 2.05% 06/01/32 0.61% 97.64 97.05
9 TX LEWSCD 4 08/15/2036 4.00% 08/15/36 0.60% 119.95 119.24
10 DE DES 5 01/01/2026 5.00% 01/01/26 0.58% 118.11 117.42

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 12/23/21 – 12/31/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CA ROBSCD 2.6 08/01/2040 2.60% 08/01/40 -5.96% 95.00 101.03
2 DC DISUTL 4.81 10/01/2114 4.81% 10/01/14 -2.89% 147.69 152.09
3 CA POMGEN 3.72 08/01/2040 3.72% 08/01/40 -2.77% 106.64 109.68
4 CA OROGEN 3.5 06/01/2040 3.50% 06/01/40 -2.76% 102.16 105.06
5 OH UNVHGR 3.06 01/01/2042 3.06% 01/01/42 -2.74% 100.65 103.48
6 MA MAS 2.9 09/01/2049 2.90% 09/01/49 -1.97% 103.03 105.10
7 TX TXSHGR 2.15 02/15/2034 2.15% 02/15/34 -1.89% 98.45 100.35
8 NY PORTRN 4.46 10/01/2062 4.46% 10/01/62 -1.85% 133.09 135.60
9 CA UNVHGR 3.01 05/15/2050 3.01% 05/15/50 -1.53% 103.30 104.90
10 MD MDSMED 3.05 07/01/2040 3.05% 07/01/40 -1.52% 102.65 104.23

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 12/23/21 – 12/31/21

RANK STATE CHANGE YLD YLD-1W
1 PA -41 bps 1.82% 2.23%
2 LA -32 bps 1.90% 2.22%
3 DC -30 bps 1.82% 2.12%
4 NJ -21 bps 1.90% 2.11%
5 SC -21 bps 1.93% 2.14%
6 MN -21 bps 1.43% 1.64%
7 IL -19 bps 2.50% 2.69%
8 CA -12 bps 2.13% 2.25%
9 MD -11 bps 1.41% 1.53%
10 IA -10 bps 1.67% 1.77%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 12/23/21 – 12/31/21

RANK STATE CHANGE YLD YLD-1W
1 VA 33 bps 1.61% 1.28%
2 KS 28 bps 1.96% 1.68%
3 NY 11 bps 2.05% 1.94%
4 WA 11 bps 2.16% 2.05%
5 WI 8 bps 2.11% 2.04%
6 FL 7 bps 1.91% 1.85%
7 OH 5 bps 2.02% 1.97%
8 HI 5 bps 2.01% 1.97%
9 TX 5 bps 2.23% 2.18%
10 NE 4 bps 1.61% 1.57%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 12/23/21 – 12/31/21 (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 12/23/21 – 12/31/21 (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 12/23/21 – 12/31/21 (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 12/23/21 – 12/31/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 12/23/21 vs. the week ending 12/31/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CA LOSHGR 4 08/01/2036 4.00% 08/01/36 22 73 51 232%
2 CA SMTGEN 5 07/15/2031 5.00% 07/15/31 17 48 31 182%
3 CA UNVHGR 4 05/15/2039 4.00% 05/15/39 26 52 26 100%
4 CA CAS 4 10/01/2036 4.00% 10/01/36 29 54 25 86%
5 CA NORHGR 3 08/01/2039 3.00% 08/01/39 24 48 24 100%
6 CA CAS 3 11/01/2034 3.00% 11/01/34 22 44 22 100%
7 CA CASMED 4 11/01/2035 4.00% 11/01/35 22 44 22 100%
8 DC DIS 5 06/01/2025 5.00% 06/01/25 3 24 21 700%
9 CA CAS 5 09/01/2025 5.00% 09/01/25 9 30 21 233%
10 CA SGUGEN 3 08/01/2036 3.00% 08/01/36 20 40 20 100%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 12/23/21 – 12/31/21

RANK TRANCHE COUPON MATURITY DEALERS
1 NJ NJSTRN 0 12/15/2033 0.00% 12/15/33 28
2 IL ILSTRN 4 01/01/2046 4.00% 01/01/46 26
3 CT CTSGEN 4 11/01/2038 4.00% 11/01/38 26
4 VA VASHSG 2.38 12/01/2041 2.38% 12/01/41 26
5 CA LOSUTL 5 07/01/2048 5.00% 07/01/48 25
6 CT CTSGEN 4 11/01/2040 4.00% 11/01/40 25
7 CA CAS 4 10/01/2041 4.00% 10/01/41 24
8 CT CTSGEN 4 11/01/2039 4.00% 11/01/39 24
9 CA SDGAPT 5 07/01/2051 5.00% 07/01/51 23
10 TX NRTTRN 0 01/01/2033 0.00% 01/01/33 23

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