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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.

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…

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.

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.