Rankings

Estrada Hinojosa & Co., Stifel Nicolaus & Co. and CSG Advisors Incorporated moved into the top 10.

Most top 10 issuers for 1H are from New York and California, with four from New York and two from California.

Minor shuffling among the top municipal underwriters characterized the year-over-year differences, with Jefferies being the only newcomer to the top 10, replacing Robert W Baird & Co., which fell to 13th.

The two active municipal bond insurers wrapped $8.176 billion in the first quarter of 2022, a 3.25% decrease from the $8.442 billion of deals done in the first three months of 2021.

The two active municipal bond insurers wrapped $38.7 billion in 2021, an 8.7% increase from the $35.6 billion of deals done in 2020 and the highest level since 2009.

Only one firm remained in the same spot they were at in 2020, while the rest of the rankings saw big shifts from a year prior.

BofA Securities led with $62.01 billion of deals. Out of the top five, only Morgan Stanley increased its market share year-over-year.

Bond insurance grew to 8.4% of total market par covered in the first half of 2021.

The bond counsel rankings saw plenty of moves, except at the top spot where Orrick took a commanding lead.

The Dormitory Authority of the State of New York overtook California for the most issuance, while New York issuers made up half of the top 10.