Solve Advisors Municipal Bond Market Summaries

  

Municipal Bond Market Summary - Week Ending 1/24/20

Michael Pellerito, January 27, 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 PER ELEC PWR-CCC 5.00% 07/01/24 5.36% 82.88 78.66
2 PR SALES TAX FING-A2 5.00% 07/01/58 4.33% 96.00 92.02
3 L A WTR/PWR-C-BABS 6.01% 07/01/39 3.90% 131.78 126.84
4 NJ ECON DEV AUTH 4.00% 06/15/36 3.83% 111.93 107.80
5 CHICAGO-B-REF-TXBL 6.31% 01/01/44 3.81% 121.53 117.07
6 NJ ECON DEV AUTH 4.00% 06/15/35 3.39% 112.30 108.62
7 PEORIA-REF 5.00% 01/01/29 3.35% 127.53 123.40
8 BERGEN CO NJ 3.00% 12/01/31 3.10% 110.75 107.42
9 WISCONSIN ST HLTH-A 4.00% 08/15/38 3.10% 116.36 112.87
10 CA EDUCTNL FACS-U-2 5.00% 10/01/32 3.03% 142.88 138.67
TOP 10 BOND LOSERS
Rank Bond Name Coupon Maturity Chg Price Price - 1W
1 EAST BAY CA MUNI UTIL 5.00% 06/01/29 -1.57% 119.18 121.08
2 INDIANA FIN AUTH-AMT 7.00% 03/01/39 -1.53% 101.49 103.07
3 KY ASSET GEN FD ADJ-B 1.14% 11/01/25 -1.44% 99.54 101.00
4 WISCONSIN ST-A 4.00% 05/01/31 -1.08% 105.30 106.45
5 NYC SER H-1-BABS 6.25% 06/01/35 -1.03% 102.31 103.38
6 UT ST UNIV BRD OF REG 2.63% 06/01/39 -1.00% 98.73 99.72
7 ITASCA CNTY-TXB-IMPT 5.40% 02/01/26 -0.99% 116.23 117.39
8 ND HSG FIN AGY-F 2.80% 07/01/26 -0.99% 106.95 108.02
9 PORTSMOUTH-B-REF-TXBL 3.00% 02/01/26 -0.92% 103.47 104.43
10 PINCKNEY SCHS-A-REF 4.00% 05/01/28 -0.81% 114.66 115.59
  •  Showcases the top 10 Muni Bond "Winners" and "Losers" based on price movements between 1/17/20 - 1/24/20
TOP 10 STATE WINNERS
Rank State Name Chg Yld Yld - 1W
1 DC -32 bps 1.99% 2.31%
2 GA -20 bps 2.08% 2.28%
3 AL -18 bps 1.89% 2.08%
4 NJ -14 bps 1.87% 2.01%
5 MN -11 bps 1.72% 1.84%
6 KY -9 bps 2.61% 2.70%
7 TX -8 bps 1.92% 2.00%
8 MD -8 bps 1.93% 2.01%
9 MS -7 bps 2.05% 2.12%
10 WI -6 bps 1.94% 2.00%
TOP 10 STATE LOSERS
Rank State Name Chg Yld Yld - 1W
1 IL 37 bps 3.10% 2.73%
2 UT 35 bps 1.91% 1.56%
3 IN 34 bps 2.33% 2.00%
4 AZ 30 bps 2.31% 2.01%
5 NV 28 bps 2.01% 1.72%
6 KS 26 bps 2.51% 2.25%
7 OH 24 bps 2.08% 1.85%
8 IA 21 bps 1.94% 1.74%
9 MT 18 bps 2.11% 1.92%
10 MI 14 bps 2.21% 2.07%
  •  Showcases the top 10 Muni State "Winners" and "Losers" based on yield movements between 1/17/20 - 1/24/20

 

 10 Yr Yield by State - All
  • Displays the average Muni 10 year yield by state between 1/17/20 - 1/24/20 (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 1/17/20 - 1/24/20 (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 1/17/20 - 1/24/20 (Revenue Bonds only)
    • Results are based on 5 select states, however, we offer data across all 50 states and U.S. territories

 Market Sentiment - Advancers vs. Decliners

  • Reveals the percent of Muni bonds increasing in price (Advancers) vs. decreasing in price (Decliners) between 1/17/20 - 1/24/20
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE COUPON MATURITY

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 KING CO 5.00% 01/01/30 12 48 36 300%
2 PA CMNWLTH-2ND SER-D 3.25% 08/15/26 12 45 33 275%
3 LOS ANGELES-B1 5.00% 07/01/38 8 39 31 388%
4 FEDERAL WAY SD#210 4.00% 12/01/27 19 50 31 163%
5 WASHINGTON ST-2020A 5.00% 08/01/40 31 62 31 100%
6 MASSACHUSETTS ST-A 5.00% 01/01/27 7 36 29 414%
7 NEW YORK ST DORM AUTH 5.00% 02/15/35 16 45 29 181%
8 BERGEN CO NJ 3.00% 12/01/31 3 31 28 933%
9 RUTHERFORD BORO BOE 2.50% 12/15/30 1 29 28 2800%
10 ROUND ROCK TX INDEP-B 5.00% 08/01/30 7 35 28 400%
  • Exhibits the Munis with the largest increase in quote volume for the week ending 1/17/20 vs. the week ending 1/24/20
MOST QUOTED MUNIS
RANK TRANCHE COUPON MATURITY DEALERS
1 ILLINOIS ST-D 5.00% 11/01/26 15
2 DASNY-REV-A-GRP 4-REF 5.00% 03/15/44 15
3 WASHINGTON ST-2020A 5.00% 08/01/40 14
4 CHICAGO-A-REF 5.00% 01/01/29 14
5 MONTGOMERY CNTY PA HG 5.00% 09/01/33 14
6 CONROE TX ISD 3.00% 02/15/45 14
7 CALIFORNIA 5.00% 10/01/39 13
8 NEW JERSEY ST HLTH CA 5.00% 07/01/29 13
9 WASHINGTON ST-2020A 5.00% 08/01/38 13
10 PR SALES TAX FING-A1 0.00% 07/01/24 13
  • Ranks the Munis that were quoted by the highest number of dealers between 1/17/20 - 1/24/20

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