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First Quarter 2024 Municipal Securities Market Summary
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MSRB quarterly market summaries discuss key developments in yields, trading volume, new issuance, and mutual fund flows in the municipal bond market.

Fact Book
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The MSRB Fact Book offers a free and comprehensive reference for historical trade statistics on a quarterly and yearly basis. The reports encompass information on nearly every trade reported to the MSRB by deal...

Third Quarter 2023 Municipal Securities Market Summary
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MSRB quarterly market summaries discuss key developments in yields, trading volume, new issuance, and mutual fund flows in the municipal bond market.

What Has Driven the Surge in Transaction Costs for Municipal Securities Investors Since 2022?
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MSRB research indicates a rise in customer transaction costs for municipal securities since early 2022 likely due to the steep decline in bond prices triggered by rising interest rates and market…

Second Quarter 2023 Municipal Securities Market Summary
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MSRB quarterly market summaries discuss key developments in yields, trading volume, new issuance, and mutual fund flows in the municipal bond market.

First Quarter 2023 Municipal Securities Market Summary
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MSRB quarterly market summaries discuss key developments in yields, trading volume, new issuance, and mutual fund flows in the municipal bond market.

2022 Municipal Bond Market in Review
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Detailed analysis of the municipal market detailing significantly higher interest rates, record outflows from tax-exempt mutual funds and a record number of trades.

2022 Mid-Year Market Update
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Read about significant changes in the municipal bond market in the first half of 2022. Details in the MSRB’s latest analysis.

Overview of the Taxable Municipal Bond Market
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Detailed analysis of the municipal taxable bond market, significant increases in 2020 and historical changes.

Transaction Costs During the COVID-19 Crisis
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A new commentary by MSRB Chief Economist Simon Wu reviews how the COVID-19 pandemic has affected trading costs for investors buying and selling municipal securities.

Municipal Securities Market Sees Noticeable Shift in Buying Patterns
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Market summary of municipal market trading and shifts in market behavior and structure since 2010, driven by customer purchases.

2020 Municipal Bond Market in Review
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Detailed analysis of the municipal market during the market dislocation as a result of the COVID-19 pandemic.

Mark-up Disclosure and Trading in the Municipal Bond Market
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Analysis of trading behavior in the year since the implementation of mark-up disclosure.

Transaction Costs for Customer Trades in the Municipal Bond Market: What is Driving the Decline?
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MSRB Chief Economist’s analysis of reasons for the steady decline in effective spread.