| Wednesday, May 03, 2023 |
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MANAGING DIRECTOR: |
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US Treasury Market |
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| Date | 1 mo | 3 mo | 6 mo | 1 yr | 2 yr | 3 yr | 5 yr | 7 yr | 10 yr | 20 yr | 30 yr |
| 04/26/23 | 3.67 | 5.12 | 4.99 | 4.67 | 3.95 | 3.69 | 3.50 | 3.48 | 3.65 | 3.82 | 3.71 |
| 04/27/23 | 4.18 | 5.15 | 5.05 | 4.77 | 4.07 | 3.81 | 3.59 | 3.57 | 3.52 | 3.88 | 3.75 |
| 04/28/23 | 4.24 | 5.05 | 5.02 | 4.75 | 4.00 | 3.71 | 3.48 | 3.46 | 3.42 | 3.80 | 3.67 |
| 05/01/23 | 4.40 | 5.02 | 5.07 | 4.86 | 4.14 | 3.86 | 3.63 | 3.60 | 3.57 | 3.93 | 3.81 |
| 05/02/23 | 4.34 | 5.14 | 4.96 | 4.74 | 3.96 | 3.67 | 3.44 | 3.43 | 3.42 | 3.81 | 3.71 |
The data in the table above is static as of the time it was pulled, so rates may have changed. Treat all data in this table and PMR as indications only and availability is always subject to change.
This information was pulled manually from sources we believe to be reliable. New source, as of 12/12/2022, Bloomberg, L.L.P. As of: close of business 05/02/2023
Upcoming Opportunity in Oklahoma
Historically, springtime has been a busy season for Oklahoma bond underwriters, and 2023 is playing out no differently. Never, however, in my four plus decades of experience in this state do I recall such an unprecedented number of new issues coming to market in such a narrow window of issuance.
Since the first of the year, there have been over 130 competitively bid GO issues already sold in Oklahoma with another 75-80 issues scheduled by the middle of June. Soon, new issue municipal supply could very well exceed demand from Oklahoma bank portfolio buyers. Should this become the case, the market will adjust yields higher to attract additional general market buyers. As Oklahoma banks fill their needs, there could be an opportunity in the near future in which Oklahoma BQ’s become quite appealing to bank portfolio buyers in other states. We are already seeing some deals priced 40-80 basis points cheaper than issues from rated, general market names.
Keep your eyes open to what develops during the next couple of weeks in the bond underwriting world for credit-worthy GOs from the Sooner State. This window of opportunity could provide huge value for your bank’s municipal portfolio.
Please reach out to your CCB CMG representative to continue the conversation on the Oklahoma municipal market.
Since the first of the year, there have been over 130 competitively bid GO issues already sold in Oklahoma with another 75-80 issues scheduled by the middle of June. Soon, new issue municipal supply could very well exceed demand from Oklahoma bank portfolio buyers. Should this become the case, the market will adjust yields higher to attract additional general market buyers. As Oklahoma banks fill their needs, there could be an opportunity in the near future in which Oklahoma BQ’s become quite appealing to bank portfolio buyers in other states. We are already seeing some deals priced 40-80 basis points cheaper than issues from rated, general market names.
Keep your eyes open to what develops during the next couple of weeks in the bond underwriting world for credit-worthy GOs from the Sooner State. This window of opportunity could provide huge value for your bank’s municipal portfolio.
Please reach out to your CCB CMG representative to continue the conversation on the Oklahoma municipal market.
Supply coming through May 16:
| Date | Time | Issuer Description | State | Amt (MM) | Tax |
| 05/03/2023 | 12:45 | CREEK CO ISD#39-A | OK | 0.36 | N |
| 05/03/2023 | 12:45 | CREEK CO ISD#39-B | OK | 1.435 | N |
| 05/03/2023 | 13:00 | ROGERS CO ISD #6 | OK | 1.74 | Q |
| 05/03/2023 | 13:30 | MCCURTAIN CO ESD #72 | OK | 0.24 | Q |
| 05/03/2023 | 18:30 | BRYAN CO ISD#3 | OK | 0.6 | Q |
| 05/04/2023 | 13:00 | MURRAY CO ISD#10-TXBL | OK | 1.23 | T |
| 05/04/2023 | 13:00 | OKLAHOMA CO ISD #6- TXBL | OK | 5.22 | T |
| 05/04/2023 | 13:30 | GARVIN CO ISD #5 | OK | 0.365 | Q |
| 05/05/2023 | 12:30 | CADDO CO ISD#11-TXBL | OK | 0.795 | T |
| 05/08/2023 | 10:30 | OKLAHOMA CO ISD#52 | OK | 14.96 | N |
| 05/08/2023 | 11:00 | OKLAHOMA CO ISD#52-TXBL | OK | 1.6 | T |
| 05/08/2023 | 12:45 | GARFIELD CO ISD #56 | OK | 0.375 | Q |
| 05/08/2023 | 14:00 | PITTSBURG CO ISD#28 | OK | 0.49 | Q |
| 05/08/2023 | 15:00 | OKLAHOMA CO ISD#41-TXBL-B | OK | 5.665 | T |
| 05/08/2023 | 20:00 | MCINTOSH CO ISD#27 | OK | 0.215 | Q |
| 05/09/2023 | 10:00 | CREEK CO ISD#33 | OK | 16 | N |
| 05/09/2023 | 10:30 | STEPHENS CO ISD#1-TXBL | OK | 2.525 | T |
| 05/09/2023 | 12:00 | PAYNE CO ISD #16 -A | OK | 13.365 | N |
| 05/09/2023 | 12:00 | PAYNE CO ISD #16 -B | OK | 12 | N |
| 05/09/2023 | 12:30 | NOWATA CO ISD #40-TXBL | OK | 0.835 | T |
| 05/09/2023 | 13:30 | OKLAHOMA CO ELEM SD#74 | OK | 0.915 | Q |
| 05/10/2023 | 12:30 | CADDO CO ISD#167-TXBL | OK | 0.89 | T |
| 05/10/2023 | 13:30 | LEFLORE CO ISD#16 | OK | 0.415 | Q |
| 05/10/2023 | 19:00 | ALFALFA CO ISD #93 | OK | 1.6 | Q |
| 05/10/2023 | 19:00 | GARFIELD CO ISD #1 A | OK | 0.31 | Q |
| 05/10/2023 | 19:00 | GARFIELD CO ISD #1 B | OK | 0.385 | Q |
| 05/11/2023 | 12:30 | CUSTER CO ISD #26 | OK | 2.03 | Q |
| 05/11/2023 | 13:00 | CANADIAN CO ISD #22-TXBL | OK | 9.46 | T |
| 05/11/2023 | 13:30 | GRADY CO ISD#99 | OK | 0.675 | Q |
| 05/12/2023 | 12:00 | ROGERS CO ISD #5 | OK | 2.585 | Q |
| 05/12/2023 | 13:30 | MCCLAIN CO ISD#10 | OK | 1.07 | Q |
| 05/15/2023 | 13:00 | KINGFISHER CO ISD #16 | OK | 1.215 | Q |
| 05/15/2023 | 13:00 | OSAGE CO ISD #2-TXBL | OK | 0.65 | T |
| 05/15/2023 | 13:00 | PAYNE CO ISD #103 | OK | 0.245 | Q |
| 05/15/2023 | 13:30 | MCCURTAIN CO ESD #9 | OK | 0.275 | Q |
| 05/16/2023 | 12:30 | MUSKOGEE CO ISD #20-TXBL | OK | 7.5 | T |
| 05/16/2023 | 13:00 | OKMULGEE CO ISD #2 | OK | 1.06 | Q |
| 05/16/2023 | 13:30 | MCINTOSH CO ISD #1 | OK | 1 | Q |
Source: Bloomberg
This information is intended for institutional investors only. The material provided in this document/presentation is for informational purposes only and is intended solely for private use. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instruments.
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