Citi overtook Bank of America-Merrill Lynch for the top spot in municipal bond underwriting in the second quarter, according to Thomson Reuters.

The New York-based bank was senior manager on $18.53 billion of munis during the second quarter, and $31.57 billion for the first six months of the year.That ranks Citi first among senior managers, with a 16.2% market share. Bank of America-Merrill was second, with $11.3 billion in the second quarter and $26.75 billion in the first half, with a 13.7% share of the market.

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