Q1 muni league tables: Top underwriters

The top 15 municipal underwriters are on a faster pace so far this year, as they brought $75.44 billion in 1,800 deals to market, compared with to $61.85 billion in 1,677 transactions in the first quarter last year.

BofA remained in the top spot, as Citi, RBC and JPMorgan all moved up.

BofA steady at the top
BofA again found itself in first place, as the firm underwrote $13.89 billion over 102 transactions, for an 18.4% market share in the first quarter of 2019. That compares with $11.8 billion in 95 deals and a 19.2% market share during the same time last year.

The biggest deals BofA ran the books on in the first quarter included: District of Columbia's $938 million on Feb. 13; The Commonwealth of Massachusetts' $918 million on Jan. 8; and The Indianapolis Local Public Improvement Bond Bank's $611 million transaction on March 21.
Citi moves up one spot to second
Citi increased its business from this time last year, as the firm accumulated $9.58 billion or 12.7% market share, up from $6.06 billion and 9.8% market share.

Among the biggest deals Citi was lead manager on were: California's $2.29 billion sale on March 6; Illinois Sales Tax Securitization Corp.'s $605 million on Jan. 16; Oregon's $526 million on Feb. 13.
RBC jumps into the top three
RBC Capital Markets rose two spots to third with $6.17 billion in 136 deals or 8.2% market share, up from fifth with $4.82 billion or 7.8% market share in first quarter of 2018. RBC's biggest deal was Tennergy Corp., Tennessee's $541 million on Feb. 8.
JPM leaps up three spots to fourth
JPMorgan jumped three slots in the ranking after completing $5.63 billion and 7.5% market share in the first three months of 2019, compared with $3.21 billion and 5.2% market share.

The firm's biggest deal was the Airport Commission of the City and County of San Francisco's $1.76 billion transaction on Jan. 11.
Morgan Stanley slips to fifth
Morgan Stanley slid three spots to fifth place with a total of $5.12 billion and 6.8% market share, down from the $6.81 billion or 11% market share in the same time last year.

Wells rises to sixth
Wells Fargo moved up two spots from where it was at this point last year, with $4.36 billion or 5.8% market share in the first quarter of 2019. That is more than the $2.44 billion or 3.9% market share a year ago.
Goldman falls three spots
Goldman Sachs sank to seventh with $4.33 billion and 5.8% market share, from fourth a year earlier, when the firm accounted for $4.90 billion and 7.9% market share.
Barclays makes strides
Barclays accumulated $3.82 billion and 5.1% market share, more than a fourfold increase from the $893 million and 1.4% market share the firm handled in the first quarter of 2018.
Stifel stays steady
Stifel remained in ninth place, even as it increased its deal volume to $2.99 billion or 4% market share, from $2.16 billion and 3.5% of the market.
Baird bumps up two spots
Robert W Baird and Co., rounds out the top 10 with $2.35 billion and 3.1% market share for the first three months, up from $1.79 billion or 2.9% market share a year ago.
Siebert Cisneros Shank and UBS move way up
Rounding out the list are: Piper Jaffray with $2.11 billion; Raymond James with $1.91 billion; Siebert Cisneros Shank & Co. LLC leaps up to 13th from 20th with $1.44 billion; UBS Financial Services vaulted up to 14th from 19th with $1.35 billion; and Jefferies fell from 11th last year with $1.05 billion.