MSRB Reports on Municipal Market Trends

The MSRB issued its 2022 Municipal Market Year in Review on trading and issuance of municipal securities.

The MSRB reported a record number of trades and said that municipal bond markets continued to operate efficiently. The MSRB also found that trading volume on alternative trading systems increased due to heightened demand from individual investors. The MSRB reported that the number of redemptions of tax-exempt mutual funds reached record-highs, and that trading volume among tax-loss swaps also increased, but overall new issues declined due to rising interest rates.