Solve Advisors Municipal Bond Market Summaries

  

Municipal Bond Market Summary - Week Ending 1/10/20

Michael Pellerito, January 13, 2020

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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-M 5.00% 07/01/32 11.72% 43.09 38.57
2 COLUMBUS BLDG AUTH-A 3.00% 01/01/24 9.41% 104.54 95.54
3 SAN BERNARDINO USD-QS 8.05% 02/01/23 6.56% 116.51 109.33
4 OHIO ST-A 4.00% 05/01/24 5.13% 112.13 106.66
5 BERWYN MUNI SEC-AGM 5.73% 01/01/49 4.05% 132.91 127.74
6 RESTRUCTURED-SER A-2- 4.33% 07/01/40 3.86% 106.81 102.83
7 OK MUN PWR SER B 5.75% 01/01/24 3.43% 113.53 109.76
8 ALVORD USD-B-CABS 0.00% 08/01/36 3.35% 62.94 60.90
9 COLORADO ST BLDG-H 3.25% 03/15/35 3.06% 104.65 101.55
10 INDIANAPOLIS BOND BK 6.00% 01/15/40 2.95% 140.32 136.30
TOP 10 BOND LOSERS
Rank Bond Name Coupon Maturity Chg Price Price - 1W
1 MA CONS LN-BABS 5.46% 12/01/39 -5.16% 125.09 131.90
2 PALM BEACH TOWN-TXBL 3.10% 01/01/43 -4.80% 97.93 102.86
3 NYC FIN-TXB-S-1B-BABS 6.83% 07/15/40 -3.36% 134.88 139.56
4 L A WTR/PWR-C-BABS 6.01% 07/01/39 -3.34% 126.41 130.79
5 MS DEV-TXB-B-JACKSON 4.37% 03/01/24 -3.22% 104.73 108.21
6 DENVER SCHS-REF-B-TXB 6.22% 12/15/26 -3.07% 115.77 119.43
7 GLENDALE REDEV AGY-TX 8.35% 12/01/24 -2.71% 123.05 126.47
8 TULSA INDL-TXB-A-BABS 6.13% 09/01/24 -2.28% 113.78 116.43
9 ST CHARLES SPL OBLG-C 5.81% 10/01/25 -1.68% 103.49 105.25
10 FULTON DEV AUTH-B-TXB 5.31% 10/01/35 -1.47% 122.69 124.53
  •  Showcases the top 10 Muni Bond "Winners" and "Losers" based on price movements between 1/3/20 - 1/10/20
TOP 10 STATE WINNERS
Rank State Name Chg Yld Yld - 1W
1 MA -48 bps 1.59% 2.08%
2 HI -42 bps 1.84% 2.26%
3 IA -29 bps 1.63% 1.92%
4 MN -19 bps 1.95% 2.15%
5 WA -19 bps 1.81% 1.99%
6 FL -11 bps 1.84% 1.95%
7 CA -9 bps 2.13% 2.22%
8 OR -9 bps 2.03% 2.12%
9 MD -7 bps 2.13% 2.20%
10 MS -5 bps 2.11% 2.16%
TOP 10 STATE LOSERS
Rank State Name Chg Yld Yld - 1W
1 NE 56 bps 2.42% 1.85%
2 KS 45 bps 2.45% 2.01%
3 DC 32 bps 2.32% 2.00%
4 AZ 32 bps 2.48% 2.16%
5 IL 30 bps 3.12% 2.83%
6 MI 28 bps 2.46% 2.18%
7 UT 26 bps 1.99% 1.74%
8 AL 21 bps 2.13% 1.92%
9 OH 19 bps 2.32% 2.12%
10 MT 18 bps 2.27% 2.09%
  •  Showcases the top 10 Muni State "Winners" and "Losers" based on yield movements between 1/3/20 - 1/10/20

 

 10 Yr Yield by State - All
  • Displays the average Muni 10 year yield by state between 1/3/20 - 1/10/20 (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 1/3/20 - 1/10/20 (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 1/3/20 - 1/10/20 (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 1/3/20 - 1/10/20
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE COUPON MATURITY

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 NEW JERSEY ST HLTH CA 5.00% 07/01/29 15 66 51 340%
2 SPRING BRANCH ISD 4.00% 02/01/36 5 49 44 880%
3 NEW YORK ST URBAN DEV 4.00% 03/15/42 8 50 42 525%
4 NYC TRANS FIN AUTH 4.00% 05/01/43 4 46 42 1050%
5 HONOLULU-A 4.00% 07/01/44 19 61 42 221%
6 GEORGIA ST-D 5.00% 02/01/24 7 42 35 500%
7 SAN ANTONIO TX INDEP 4.00% 08/15/35 17 50 33 194%
8 NASSAU CO NY -B 5.00% 04/01/49 1 33 32 3200%
9 SALT RIVER AZ PROJ AG 5.00% 01/01/34 3 33 30 1000%
10 ILLINOIS ST 4.00% 11/01/38 7 36 29 414%
  • Exhibits the Munis with the largest increase in quote volume for the week ending 1/3/20 vs. the week ending 1/10/20
MOST QUOTED MUNIS
RANK TRANCHE COUPON MATURITY DEALERS
1 MONTGOMERY CNTY PA HG 5.00% 09/01/33 14
2 NEW JERSEY ST HLTH CA 5.00% 07/01/29 13
3 NEW YORK ST DORM AUTH 5.00% 02/15/48 13
4 MARYLAND ST HLTH & HG 5.00% 10/01/49 12
5 NEW YORK-A-A-1 5.00% 08/01/39 12
6 NEW YORK CITY NY MUNI 4.00% 06/15/42 12
7 NY ST URBAN DEV CORP 3.00% 03/15/49 12
8 PUB FIN AUTH-A-REF 4.00% 10/01/49 12
9 HONOLULU-A 4.00% 07/01/44 12
10 NEW YORK ST URBAN DEV 4.00% 03/15/42 11
  • Ranks the Munis that were quoted by the highest number of dealers between 1/3/20 - 1/10/20

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