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Municipal Bond Market Summary:
Week Ending 1/21/22

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 1/14/22 – 1/21/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 PR PRC 5.25 07/01/2030 5.25% 07/01/30 2.51% 102.13 99.63
2 IL CHI 0 01/01/2032 0.00% 01/01/32 1.21% 74.82 73.92
3 FL ECRUTL 5 10/01/2044 5.00% 10/01/44 1.06% 120.19 118.93
4 TN KNOMED 5 09/01/2031 5.00% 09/01/31 0.86% 115.41 114.43
5 CA CASDEV 5 10/01/2032 5.00% 10/01/32 0.84% 116.74 115.78
6 MA MASEDU 2.95 05/15/2043 2.95% 05/15/43 0.72% 101.40 100.68
7 AL INFMED 4 02/01/2046 4.00% 02/01/46 0.68% 108.50 107.77
8 NY NYSHGR 5 07/01/2032 5.00% 07/01/32 0.44% 122.65 122.11
9 TX SAG 4 09/01/2030 4.00% 09/01/30 0.44% 117.44 116.92
10 FL LEEDEV 4 10/01/2043 4.00% 10/01/43 0.41% 105.15 104.72

Top 10 Losers

Showcases the top 10 Muni Bond “Losers” based on price movements between 1/14/22 – 1/21/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 TX UNIHGR 5 08/15/2049 5.00% 08/15/49 -6.35% 148.74 158.83
2 CA HOPSCD 4 08/01/2045 4.00% 08/01/45 -5.37% 114.46 120.95
3 MD CUM 1.8 06/01/2028 1.80% 06/01/28 -4.60% 95.65 100.27
4 MD MONMFH 2.1 07/01/2052 2.10% 07/01/52 -4.21% 89.07 92.98
5 WA WAS 5 02/01/2037 5.00% 02/01/37 -4.05% 129.01 134.45
6 CO PUECTF 2.72 09/15/2042 2.72% 09/15/42 -3.80% 93.58 97.28
7 CA CASWTR 2.23 12/01/2035 2.23% 12/01/35 -3.78% 97.13 100.94
8 CA CASEDU 5 03/15/2039 5.00% 03/15/39 -3.67% 140.78 146.14
9 CA CVSEDU 3.3 06/01/2046 3.30% 06/01/46 -3.59% 98.89 102.58
10 TX FWDSCD 2 02/15/2041 2.00% 02/15/41 -3.36% 93.04 96.27

Top 10 State Winners

Showcases the top 10 Muni State “Winners” based on yield movements between 1/14/22 – 1/21/22

RANK STATE CHANGE YLD YLD-1W
1 PA -20 bps 2.22% 2.42%
2 AL -19 bps 1.86% 2.05%
3 KS -6 bps 2.03% 2.09%
4 IL -5 bps 2.67% 2.72%
5 MD -5 bps 1.87% 1.92%
6 WA -4 bps 2.31% 2.35%
7 MS -3 bps 1.83% 1.86%
8 DC -2 bps 2.64% 2.66%
9 VA -2 bps 1.65% 1.67%
10 ME -1 bps 1.49% 1.50%

Top 10 State Losers

Showcases the top 10 Muni State “Losers” based on yield movements between 1/14/22 – 1/21/22

RANK STATE CHANGE YLD YLD-1W
1 MI 42 bps 2.37% 1.95%
2 AZ 35 bps 2.06% 1.70%
3 NJ 35 bps 2.17% 1.83%
4 NH 34 bps 1.93% 1.59%
5 OR 30 bps 2.18% 1.88%
6 NC 28 bps 1.71% 1.43%
7 NE 24 bps 1.82% 1.58%
8 MO 24 bps 1.98% 1.74%
9 TN 18 bps 2.21% 2.03%
10 CO 17 bps 2.29% 2.12%

10 Year Yield by State – All

Displays the average Muni 10 year yield by state between 1/14/22 – 1/21/22 (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 1/14/22 – 1/21/22 (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 1/14/22 – 1/21/22 (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 1/14/22 – 1/21/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the Munis with the largest increase in quote volume for the week ending 1/14/22 vs. the week ending 1/21/22

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 PA BUCMED 4 07/01/2046 4.00% 07/01/46 12 72 60 500%
2 IL ILSGEN 4 08/15/2039 4.00% 08/15/39 15 67 52 347%
3 WI PUBGEN 3 07/01/2050 3.00% 07/01/50 16 63 47 294%
4 CT CTS 4 01/15/2035 4.00% 01/15/35 15 59 44 293%
5 NJ NJSTRN 0 12/15/2030 0.00% 12/15/30 29 71 42 145%
6 FL BWCDEV 4 09/01/2036 4.00% 09/01/36 14 55 41 293%
7 UT SALAPT 5 07/01/2034 5.00% 07/01/34 10 50 40 400%
8 UT SALAPT 5 07/01/2035 5.00% 07/01/35 10 50 40 400%
9 UT SALAPT 5 07/01/2036 5.00% 07/01/36 10 50 40 400%
10 NY NYSTRN 5 01/01/2030 5.00% 01/01/30 10 45 35 350%

Most Quoted Munis

Ranks the Munis that were quoted by the highest number of dealers between 1/14/22 – 1/21/22

RANK TRANCHE COUPON MATURITY DEALERS
1 UT UNIHGR 4 08/01/2051 4.00% 08/01/51 27
2 OR ORSHGR 4 07/01/2051 4.00% 07/01/51 24
3 CA CASMED 4 08/15/2048 4.00% 08/15/48 24
4 NY NYCDEV 4 02/15/2043 4.00% 02/15/43 24
5 CA LOSHGR 4 08/01/2036 4.00% 08/01/36 23
6 NY NYCDEV 3 02/15/2042 3.00% 02/15/42 23
7 CT CTS 4 01/15/2038 4.00% 01/15/38 23
8 NY NYCDEV 2.75 02/15/2044 2.75% 02/15/44 23
9 IL ILSTRN 4 01/01/2046 4.00% 01/01/46 22
10 CA LOSUTL 5 07/01/2048 5.00% 07/01/48 22

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