According to Thomson Reuters, long-term municipal issuance volume, including taxable and tax-exempt issuance, totaled $68.2 billion in the second quarter of 2011, a 46.1 percent increase from the prior quarter ($46.7 billion), but a decline of 38.2 percent from the second quarter of 2010. Although light, second quarter issuance began picking up in mid-May after the tax season, with nearly half of issuance in the quarter sold in June ($32.8 billion). Year to date, issuance totaled $115.0 billion, levels last seen in 2000 ($92.3 billion).

About the Report

The municipal bond credit report is a quarterly report on the trends and statistics of U.S. municipal bond market, both taxable and tax-exempt. Issuance volumes, outstanding, credit spreads, rating changes, highlights and commentary are included.

Credits

SIFMA Research

• Managing Director, Director of Research: Kyle Brandon
• Manager, Research: Sharon Sung

Municipal Division

• Managing Director, Associate General Counsel, Co-Head: Leslie Norwood
• Managing Director, Associate General Counsel: David Cohen
• Managing Director, Co-Head: Michael Decker
• Manager, Policy (Advocacy): Lynne Funk