Data and Research

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Competitive Bidding for Primary Offerings of Municipal Securities: More Bids, Better Pricing for Issuers?

Publication date: 07/01/2020

New research by MSRB Chief Economist Simon Wu analyzes the pricing benefits of increased competitive bidding activity in the municipal securities market.

Municipal Securities Pre-Trade Market Activity: What Has Changed Since 2015?

Publication date: 07/01/2020

Pre-trade market activity for the period from June 1, 2018, through November 30, 2018.

Different Buying Patterns of Retail and Institutional Investors in Municipal Bonds

Publication date: 02/01/2020

Analysis of buyers of lower coupon municipal bonds and associated risks.

Mark-up Disclosure and Trading in the Municipal Bond Market

Publication date: 07/01/2019

Analysis of trading behavior in the year since the implementation of mark-up disclosure.

Dealer Participation and Concentration in Municipal Securities Trading

Publication date: 05/01/2019

Analysis of trends and changes in municipal securities dealer’s participation and concentration.

Analysis of Municipal Securities Pre-Trade Data from Alternative Trading Systems

Publication date: 10/01/2018

Analysis of pre-trade quote data for municipal securities available to market participants on alternative trading systems (ATSs).

Transaction Costs for Customer Trades in the Municipal Bond Market: What is Driving the Decline?

Publication date: 07/01/2018

MSRB Chief Economist’s analysis of reasons for the steady decline in effective spread.

Municipal Bond ETFs: Liquidity Impact on the Municipal Bond Market

Publication date: 04/01/2018

The MSRB Chief Economist's analysis on the relationship between municipal bond ETFs and municipal market liquidity.

Timing of Annual Financial Disclosures by Issuers of Municipal Securities

Publication date: 02/01/2017

MSRB analysis of the timing of annual continuing disclosure submissions and changes over time.

Report on Secondary Market Trading in the Municipal Securities Market

Publication date: 07/01/2014

Report on municipal market trading patterns, associated pricing and the effect of price transparency on pricing.

MUNICIPAL VARIABLE RATE DEMAND OBLIGATIONS AND AUCTION RATE SECURITIES Interest Rate and Trading Trends

Publication date: 06/01/2014

Statistical report on trading, interest rate and other characteristics of the municipal variable rate securities market.

Build America bonds Issuance and Trade Activity, 2009

Publication date: 02/01/2010

Analysis of the primary and secondary markets for Build America Bonds (BABs).

Unregulated Municipal Market Participants A Case for Reform

Publication date: 04/01/2009

The report details the prevalence of financial advisors and other entities in municipal market transactions.

Data and Research Publications

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