MSRB Publishes Second Quarter 2014 Municipal Market Statistics
The MSRB released municipal market statistics for the second quarter of 2014, which includes data on trading patterns, interest rate resets and continuing disclosure submissions made to the MSRB for the $3.7 trillion municipal bond market. Highlights of the market statistics include the following:
- trading activity in the municipal market decreased significantly in the second quarter of 2014, both in terms of par amount and number of trades;
- par amount traded of fixed-rate securities decreased to $398.9 billion in the second quarter of 2014 from $463.1 billion traded in the second quarter of 2013;
- trading activity totaled 2.24 million trades in the second quarter of 2014, as compared to 2.72 million trades a year ago during the same period;
- trading of revenue securities accounted for approximately 66 percent of the total par amount traded and 62 percent of the number of trades in the second quarter of 2014;
- the number of variable rate demand obligation rate resets continued to decline, totaling 157,219 in the second quarter of 2014, as compared to 179,572 rate resets a year ago during the same period; and
- general obligation bonds accounted for 24 percent and 34 percent of trading activity by par and number of trades in the second quarter.
See: MSRB Second Quarter Market Statistics. Related news: MSRB Publishes First Quarter 2014 Municipal Market Statistics (May 14, 2014).