Solve Advisors Municipal Bond Market Summaries

  

Municipal Bond Market Summary - Week Ending 8/2/19

Michael Pellerito, August 05, 2019

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We are excited to launch a weekly newsletter to highlight trends in the Municipal Bond market. Our newsletter presents key trends derived from observable municipal bond pricing data over a weekly period.

  1. Top 10 Muni Bond Winners & Losers
  2. Top 10 Muni State Winners & Losers
  3. 10 Yr Yield by State - All Muni
  4. 10 Yr Yield by State - GO Only
  5. 10 Yr Yield by State - REV Only 
  6. Market Sentiment
  7. Top Quote Volume Movers
  8. Most Quoted Municipal Bonds

 

TOP 10 BOND WINNERS
Rank Bond Name Coupon Maturity Chg Price Price - 1W
1 PR HWY/TRN-N-REF 5.50% 07/01/23 7.68% 34.73 32.25
2 DENTON-CTFS OBLIG 4.00% 02/15/45 5.71% 114.19 108.02
3 MASSACHUSETTS ST DEV 4.00% 07/01/36 4.19% 112.55 108.02
4 PEMBROKE PINES-REF 5.76% 10/01/33 4.13% 120.17 115.40
5 GRAND JUNCTION -COPS 4.00% 12/01/35 4.11% 113.80 109.31
6 HAMPTON 6.35% 06/01/28 4.02% 126.98 122.08
7 NYC FIN-TXB-S-1B-BABS 6.20% 07/15/25 3.92% 119.99 115.47
8 CONNECTICUT ST-A 5.00% 04/15/32 3.91% 127.04 122.26
9 DC TAX-TXB-F-BABS 5.58% 12/01/35 3.69% 126.84 122.33
10 PR-REF-A 5.13% 07/01/37 3.62% 62.41 60.23
TOP 10 BOND LOSERS
Rank Bond Name Coupon Maturity Chg Price Price - 1W
1 OH QIR QLTY ENERGY-A 5.70% 08/01/20 -3.73% 91.22 94.75
2 PR ELEC REF-LIBOR-UU 2.44% 07/01/31 -3.66% 71.05 73.75
3 FRESNO TXB-PENSION 6.46% 06/01/22 -3.15% 107.13 110.62
4 PERALTA CLG-A-TXBL 6.25% 08/05/25 -2.97% 108.62 111.95
5 UNIV OF ALASKA-V-1 5.00% 10/01/40 -2.51% 113.72 116.64
6 OH AIR QUAL-B-REF-VAR 3.75% 06/01/33 -2.25% 9.57 9.79
7 CHARLOTTE NC -A -REF 3.00% 06/01/39 -1.78% 102.72 104.58
8 MI FIN 7.19% 11/01/22 -1.76% 110.25 112.22
9 KLICKITAT PUD #1 RF-A 5.89% 12/01/31 -1.68% 114.41 116.36
10 PR BLDG-D-UNREF-GOVT 5.25% 07/01/36 -1.65% 81.89 83.26
  •  Showcases the top 10 Muni Bond "Winners" and "Losers" based on price movements between 7/26/19 - 8/2/19
TOP 10 STATE WINNERS
Rank State Name Chg Yld Yld - 1W
1 LA -36 bps 1.95% 2.31%
2 OR -35 bps 1.96% 2.31%
3 TN -29 bps 1.98% 2.27%
4 CT -27 bps 2.21% 2.48%
5 VA -23 bps 1.58% 1.81%
6 NV -23 bps 1.87% 2.10%
7 AL -21 bps 2.31% 2.52%
8 RI -17 bps 2.09% 2.26%
9 AZ -14 bps 3.00% 3.15%
10 IL -14 bps 3.39% 3.53%
TOP 10 STATE LOSERS
Rank State Name Chg Yld Yld - 1W
1 WA 13 bps 2.15% 2.01%
2 MO 11 bps 2.41% 2.30%
3 AR 9 bps 2.40% 2.31%
4 GA 7 bps 1.85% 1.79%
5 SC 6 bps 2.30% 2.24%
6 WI 5 bps 2.12% 2.06%
7 OH 4 bps 2.55% 2.50%
8 IA 4 bps 2.09% 2.04%
9 TX 0 bps 2.29% 2.29%
10 NJ -4 bps 2.27% 2.31%
  •  Showcases the top 10 Muni State "Winners" and "Losers" based on yield movements between 7/26/19 - 8/2/19

 

 10 Yr Yield by State - All
  • Displays the average Muni 10 year yield by state between 7/26/19 - 8/2/19 (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 Yr Yield by State - GO

  • Displays the average Muni 10 year yield by state between 7/26/19 - 8/2/19 (General Obligation Bonds only)
    • Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories

10 Yr Yield by State - Rev

  • Displays the average Muni 10 year yield by state between 7/26/19 - 8/2/19 (Revenue Bonds only)
    • Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories

 Muni Market Sentiment - Advancers vs. Decliners

  • Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 7/26/19 - 8/2/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE COUPON MATURITY

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 UNIV TX PERM REF-B 5.25% 07/01/30 21 53 32 152%
2 IL ST-REF 5.00% 08/01/25 5 35 30 600%
3 NEW YOR MUNI WTR-FF 5.00% 06/15/39 5 34 29 580%
4 NJ TRN FD CAB-SER C 0.00% 12/15/27 17 45 28 165%
5 WASHINGTON ST-R-E-REF 5.00% 07/01/31 7 34 27 386%
6 CNTRL PUGET TRANSP-S1 5.00% 11/01/31 18 45 27 150%
7 PA ECO DEV FIN-WASTE 2.15% 07/01/41 12 39 27 225%
8 RHODE ISLAND ST-A 4.00% 05/01/37 11 37 26 236%
9 DALLAS ETC ARPT-E-REF 5.00% 11/01/22 2 28 26 1300%
10 PORT AUTH OF NEW YORK 5.00% 05/01/26 10 35 25 250%
  • Exhibits the Munis with the largest increase in quote volume for the week ending 7/26/19 vs. the week ending 8/2/19
MOST QUOTED MUNIS
RANK TRANCHE COUPON MATURITY DEALERS
1 OHIO ST-A 5.00% 05/01/35 13
2 DENVER CITY & CO ARPT 5.00% 12/01/37 13
3 PR SALES TAX FING-A1 5.00% 07/01/58 13
4 HI ELEC CO INC 3.20% 07/01/39 13
5 INDIANAPOLIS LOC-A1 5.00% 01/01/30 12
6 ILLINOIS ST-D 5.00% 11/01/28 12
7 LOS ANGELES CO FACS-A 4.00% 12/01/48 12
8 ENERGY NW ELEC REV-A 5.00% 07/01/38 11
9 OMAHA-DOUGLAS BLDG-B 3.00% 05/01/49 11
10 MASSACHUSETTS ST SCH 5.00% 02/15/44 11
  • Ranks the Munis that were quoted by the highest number of dealers between 7/26/19 - 8/2/19

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