Data and Research

Select Market Reports by type:

Monthly Municipal Market Summary Last Updated: March 10, 2023

Publication date: 03/10/2023

Overall monthly market trading activity broken up by fixed and variable rate securities. Updated approximately one week after the end of each month.

Fact Book

Publication date: 03/01/2023

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...

Monthly Municipal Market Summary Last Updated: February 23, 2023

Publication date: 02/23/2023

Overall monthly market trading activity broken up by fixed and variable rate securities. Updated approximately one week after the end of each month.

Monthly Municipal Market Summary Last Updated: January 17, 2023

Publication date: 01/17/2023

Overall monthly market trading activity broken up by fixed and variable rate securities. Updated approximately one week after the end of each month.

2022 Municipal Bond Market in Review

Publication date: 01/12/2023

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

Monthly Municipal Market Summary Last Updated: December 12, 2022

Publication date: 12/12/2022

Overall monthly market trading activity broken up by fixed and variable rate securities. Updated approximately one week after the end of each month.

Monthly Municipal Market Summary Last Updated: November 14, 2022

Publication date: 11/14/2022

Overall monthly market trading activity broken up by fixed and variable rate securities. Updated approximately one week after the end of each month.

Quarterly Statistical Summaries

Publication date: 11/03/2022

MSRB quarterly statistical summaries include aggregate market information for the most recent quarter. In addition to the data on municipal trading activity, the quarterly data includes the number of interest r...

Primary Offerings of Municipal Securities: Impact of COVID-19 Crisis on Competitive and Negotiated Offerings

Publication date: 10/24/2022

COVID-19 severely impacted the primary offering market particularly for competitive offerings, with fewer competitive bids received per issuance, more dispersed competitive bid…

Municipal Securities Market Trading Summary Last Updated: September 12, 2022

Publication date: 09/13/2022

Overall monthly market trading activity broken up by fixed and variable rate securities. Updated approximately one week after the end of each month.

Municipal Securities Market Trading Summary Last Updated: August 9, 2022

Publication date: 08/09/2022

Overall monthly market trading activity broken up by fixed and variable rate securities. Updated approximately one week after the end of each month.

Customer Trading with Alternative Trading Systems

Publication date: 08/04/2022

Analysis of customer transactions with Alternative Trading Systems (ATSs) and overall market comparison.

2022 Mid-Year Market Update

Publication date: 07/18/2022

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

Trends in Municipal Securities Ownership

Publication date: 06/01/2022

Ownership since 2004 reveals a continuous decline in individual investor direct ownership of municipal securities while ownership through funds has steadily risen. Read the report.

Municipal Securities Market, Trade Activity 2007–2021

Publication date: 05/01/2022

Analysis of trading volumes in the securities market from 2007 to 2021 as well as identification of unique trading activity during periods of market disruption.

Quarterly Statistical Summaries 2022 First Quarter: January - March

Publication date: 04/01/2022

MSRB quarterly statistical summaries include aggregate market information for the most recent quarter.

Number of MSRB-Registered Dealers

Publication date: 01/01/2022

Updated annual data on the number of MSRB-registered dealers since 2009. (October 2021)

Use of Internal and External Liquidity in the Municipal Market

Publication date: 11/01/2021

Report examines the use of external liquidity in the municipal securities market and changes since 2011.

2021 Municipal Market Trading Update

Publication date: 10/01/2021

Trade analysis of first eight months of 2021 and comparison with the same period of previous years.

Overview of the Taxable Municipal Bond Market

Publication date: 08/01/2021

Detailed analysis of the municipal taxable bond market, significant increases in 2020 and historical changes.

Transaction Costs During the COVID-19 Crisis

Publication date: 08/01/2021

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.

Characteristics of Municipal Securities Trading on Alternative Trading Systems and Broker’s Broker Platforms

Publication date: 08/01/2021

This paper focuses on the impact of electronic trading technology on the municipal securities market by analyzing inter-dealer trading activity on alternative trading systems (ATSs) and broker’s…

Inter-Dealer Municipal Trading

Publication date: 06/01/2021

Summary information on inter-dealer and ATS trading.

Non-Transaction Based Compensation (NTBC) Trade Reporting

Publication date: 05/01/2021

Summary statistics on Non-Transaction Based Compensation (NTBC) Trade Reporting.

Municipal Securities Market Sees Noticeable Shift in Buying Patterns

Publication date: 02/01/2021

Market summary of municipal market trading and shifts in market behavior and structure since 2010, driven by customer purchases.

Data and Research Publications

Select Market Reports by type: