Top Q3 muni underwriters

Municipal underwriters saw increased business, as demand for muni bonds jumped in through the roof.

Top muni underwriters accounted for $267.51 billion in 7,310 deals, up from $239.33 billion in 6,406 transactions in the first nine months of 2018. There was only one change in the top five but places eight through 15 were jumbled.

BB-100819-RANK
Bank of America way out in front
Bank of America Securities is way ahead of the rest of the pack, as the firm has accounted for $43.52 billion and 16.3% share of the market so far this year. BofAS is also ahead of last year's pace, when the firm ran the books on $37.80 billion worth of deals.

Some of the biggest deals BofAs was lead manager on were: Greater Orlando Aviation Authority's $1.13 billion on Sept. 19; Bay Area Toll Authority's $972.73 million on Sept. 19; Texas Water Development Board's $858.81 million on Sept. 24; And the Commonwealth of Massachusetts' $858.435 million on Aug. 26.
Morgan Stanley moves up one spot
Morgan Stanley improved one spot from where it was to second from third with $26.75 billion and 10% market share in 292 issues — up from $21.35 billion in the first three quarters of 2018.

Some of the biggest deals Morgan Stanley was lead manager on were: San Francisco Bay Area Rapid Transit District's $561.805 million on July 30; The Commonwealth of Massachusetts' $425 million on Sept. 5; Colorado Health Facilities Authority's $400.725 million on Aug. 20; And the Commonwealth of Massachusetts' $400 million on Sept. 4.
Citi finds itself in third
Citi dipped one spot from where it was at this time last year with $26.42 billion or 9.9% market share, off from $31.50 billion.

Some of the biggest deals Morgan Stanley was lead manager on were: Colorado Health Facilities Authority's $1.76 billion on Aug. 8; The City of Houston's $690.845 million on Aug. 20; Massachusetts Port Authority's $455.045 million on July 10; And the City of San Antonio's $454.9 million on Aug. 13.
JPM stays steady
JP Morgan kept in fourth place with $22.56 billion or 8.4% market share, up from $21.25 billion the same time last year.

Some of the biggest deals JPM was lead manager on were: Cities of Dallas and Fort Worth's $1.167 billion on Aug. 7; Colorado Health Facilities Authority's $359.44 million on July 19; California Health Facilities Financing Authority's $334.905 million on July 23; And the City of Chicago Board of Education's $322.394 million on Sept. 5.
RBC remains fifth
RBC Capital Markets was again in fifth place, accounting for $17.34 billion and 6.5% market share. That is slightly up from the $17.06 billion the firm did in the first three quarters of 2018.

Some of the biggest deals RBC was lead manager on were: San Diego Community College's $693.435 million on Sept. 17; Broward County, Fla.'s $490.67 million on Sept. 11; Chaffey Community College District, Calif.'s $250.425 million on Sept. 4; And Compton Unified School District, Calif.'s $229.996 million on Aug. 7.
Goldman Sachs stays put
Goldman Sachs was still in sixth place, despite upping its total from the time period last year to $14.04 billion from $11.51 billion. The firm did see its market share increase to 5.3% from 4.8%.
Wells Fargo doesn't move
Wells Fargo also remained in the same spot it was a year ago, while also seeing a rise in business to $13.45 billion from $10.76 billion.
Barclays bounces up
Barclays posted the biggest jump in the top 10, as the firm moved up five spots from the same time last year to $11.24 billion from $4.75 billion and its market share more than doubled to 4.2% from 2%.
Stifel improves two spots
Stifel saw a two spot jump with $10.69 billion from $7.27 billion, while its market share increased one percent.
Raymond James slips
Raymond James slipped one spot to round out the top 10, despite increasing par amount to $10.04 billion from $8.67.
The rest of the best
Robert W. Baird moved up one spot with $9.99 billion, Piper Jaffray dropped two spots with $7.88 billion, Jefferies fell five spots totaling $5.48 billion, Siebert Cisneros Shank was next with $3.76 billion, and D.A. Davidson finishes the list at $3.37 billion.
MORE FROM BOND BUYER