Solve Advisors Municipal Bond Market Summaries

  

Municipal Bond Market Summary - Week Ending 3/20/20

Michael Pellerito, March 23, 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 W TRAVIS PUB UTIL 5.00% 08/15/31 5.91% 128.44 121.27
2 CALIFORNIA ST UNIV-B 2.36% 11/01/31 4.50% 105.98 101.42
3 GA HGR EDU FACS AUTH 3.00% 06/15/38 4.06% 105.18 101.07
4 HENNEPIN CO-A 5.00% 12/01/32 3.65% 128.70 124.17
5 ANTELOPE VLY CA CCD 2.82% 08/01/38 3.03% 104.63 101.55
6 ORANGE CNTY TRANSN-A 6.91% 02/15/41 2.98% 155.75 151.25
7 ILLINOIS ST 5.00% 05/01/28 2.68% 127.59 124.26
8 N TX HWY CABS-REF-1ST 0.00% 01/01/37 2.55% 71.62 69.84
9 SALES TAX SECURITIZAT 5.00% 01/01/37 2.37% 130.12 127.11
10 SC PUB SVC AUTH-A-REF 5.00% 12/01/25 1.96% 115.42 113.20
TOP 10 BOND LOSERS
Rank Bond Name Coupon Maturity Chg Price Price - 1W
1 PR SALES TAX FING-A1 0.00% 07/01/46 -31.70% 17.95 26.29
2 CAPITAL TRST AGY-A 7.00% 10/01/49 -29.19% 72.11 101.85
3 CHICAGO CAB-CITY CLGS 0.00% 01/01/34 -19.25% 56.24 69.65
4 ANAHEIM FING-C-UNREFD 0.00% 09/01/35 -19.16% 58.79 72.72
5 MIAMI SPL OBLIG-CABS 0.00% 10/01/42 -18.26% 42.81 52.37
6 EL MONTE SD-B-CABS 0.00% 08/01/41 -18.02% 45.51 55.51
7 E-470 HWY-CABS 0.00% 09/01/41 -17.23% 40.85 49.35
8 MANCHESTER TWN-A 2.13% 02/01/38 -16.42% 85.14 101.86
9 AMERN MUN PWR-C 6.05% 02/15/43 -16.37% 122.90 146.95
10 CHILDRENS TR FD-A 0.00% 05/15/50 -16.34% 12.57 15.02
  •  Showcases the top 10 Muni Bond "Winners" and "Losers" based on price movements between 3/13/20 - 3/20/20
TOP 10 STATE WINNERS
Rank State Name Chg Yld Yld - 1W
1 AZ 2 bps 2.87% 2.84%
2 IN 36 bps 2.98% 2.62%
3 AL 44 bps 2.62% 2.18%
4 NC 49 bps 2.51% 2.02%
5 CO 50 bps 2.59% 2.09%
6 RI 50 bps 2.57% 2.07%
7 OR 52 bps 2.91% 2.39%
8 ME 53 bps 2.71% 2.18%
9 NJ 55 bps 2.90% 2.35%
10 KY 56 bps 2.71% 2.16%
TOP 10 STATE LOSERS
Rank State Name Chg Yld Yld - 1W
1 DE 115 bps 3.04% 1.89%
2 NV 110 bps 3.24% 2.14%
3 AR 103 bps 3.16% 2.12%
4 WV 88 bps 2.93% 2.06%
5 SC 85 bps 3.01% 2.15%
6 WI 85 bps 2.85% 2.00%
7 NY 80 bps 3.07% 2.27%
8 VA 79 bps 2.69% 1.89%
9 WA 77 bps 3.02% 2.25%
10 DC 75 bps 2.94% 2.19%
  •  Showcases the top 10 Muni State "Winners" and "Losers" based on yield movements between 3/13/20 - 3/20/20

 

 10 Yr Yield by State - All
  • Displays the average Muni 10 year yield by state between 3/13/20 - 3/20/20 (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 3/13/20 - 3/20/20 (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 - Go

  • Displays the average Muni 10 year yield by state between 3/13/20 - 3/20/20 (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 3/13/20 - 3/20/20
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE COUPON MATURITY

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 HAWAII ST 5.00% 01/01/30 15 72 57 380%
2 DALLAS ISD-A-REF 5.00% 08/15/32 11 60 49 445%
3 SC PUB SVC AUTH-A 5.00% 12/01/49 15 49 34 227%
4 ROSEMOUNT ISD #196-A 5.00% 02/01/23 5 39 34 680%
5 PHOENIX CIVIC IMPT 5.00% 07/01/44 7 40 33 471%
6 MASSACHUSETTS ST 5.00% 10/01/25 10 39 29 290%
7 WISCONSIN ST HLTH & E 4.00% 11/15/43 6 35 29 483%
8 COLORADO ST HLTH FACS 4.00% 01/01/40 5 34 29 580%
9 HOUSTON TX CMNTY CLG 4.00% 02/15/36 6 35 29 483%
10 PORT AUTH OF NEW YORK 5.00% 11/01/36 7 35 28 400%
  • Exhibits the Munis with the largest increase in quote volume for the week ending 3/13/20 vs. the week ending 3/20/20
MOST QUOTED MUNIS
RANK TRANCHE COUPON MATURITY DEALERS
1 HAWAII ST 5.00% 01/01/30 21
2 NY TRNSPRTN DEV-AMT 5.00% 01/01/33 17
3 NY TRNSPRTN DEV-AMT 5.00% 01/01/31 16
4 NEW YORK CITY NY MUNI 4.00% 06/15/41 16
5 NY TRNSPRTN DEV-AMT 5.00% 01/01/27 16
6 SAN BERNARDINO CMNTY 4.00% 08/01/49 15
7 TX TRANSPRTN COMM 5.00% 08/15/39 15
8 NY TRNSPRTN DEV-AMT 5.00% 01/01/24 15
9 DASNY-A-SALESTAX 5.00% 03/15/32 14
10 SALT LAKE CITY ARPT-A 5.00% 07/01/43 14
  • Ranks the Munis that were quoted by the highest number of dealers between 3/13/20 - 3/20/20

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