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October 2026 Market Recap
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MSRB's report documents the extraordinary developments in the municipal securities market during October 2026 and the fundamental changes in the market over the last few years.

Composition of Municipal Bond ETFs and Their Growing Significance in the Municipal Market
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MSRB's research report that analyzes secondary market trading for the municipal bond exchange-traded funds, daily trading volume, and transaction costs.

Midyear 2026 Municipal Securities Market Summary
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MSRB's midyear market summary analyzes key developments in the municipal securities market during the first half of 2026 as well as emerging trends. Topics include issuance, trading volume, tax-exempt yields, i...

First Quarter 2026 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.

Trading Volume and Transaction Cost for Municipal Bond ETFs
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MSRB research report analyzes trading volume and effective spread in the municipal bond ETF market to understand what is happening in the broader municipal securities 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...

2025 Municipal Market Year in Review
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MSRB's 2025 Municipal Market Year in Review report, podcast and webinar analyze key developments in the municipal securities market in 2025, an extraordinary year for the market on many levels, discussing yield...

Liquidity Impact of Municipal Bond ETFs on Municipal Securities Market: An Updated Analysis
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MSRB research analyzes the impact of municipal bond exchange-traded funds (ETFs) growth on the liquidity of the municipal securities market.

Third Quarter 2025 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.

Major Trends in the Municipal Securities Primary Market
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MSRB research analyzes trends in the municipal securities primary market and how the use of certain bond features has evolved over the last 20 years.

Second Quarter 2025 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.

April 2025 Market Recap
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MSRB report documents the extraordinary developments in the municipal securities market during April 2025.

First Quarter 2025 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.

Third 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.

Analysis of Primary vs. Recently Issued and Competitive vs. Negotiated Municipal Securities Markets
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Analysis of trading and pricing trends in the municipal securities market, comparing the primary market to the recently issued market, and the competitive market to the negotiated market.…

Second 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.

MSRB Statistical Summaries and Reports
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MSRB Quarterly Summaries discuss key developments in yields, trading volume, new issuance, and mutual fund flows in the municipal bond market.The MSRB Fact Book includes monthly, quarterly and yearly aggregate ...

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.

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.

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.

Trading Patterns in the Primary vs. Secondary Market for Municipal Bonds
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MSRB report identifies possible reasons for different patterns in customer trades in the primary and secondary markets for municipal bonds.

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 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.

Trends in Municipal Securities Ownership
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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.

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.

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