| EDUCATION FIRST HALF | 2012 Volume in millions | Number of issues | 2011 Volume in millions | Number of issues | Change from prior period |
|---|---|---|---|---|---|
| TOTAL | $50,240.1 | 2,898 | $35,091.0 | 2,038 | +43.2 |
| First Quarter | 24,877.0 | 1,334 | 14,150.6 | 811 | +75.8 |
| Second Quarter | 25,363.1 | 1,564 | 20,940.4 | 1,227 | +21.1 |
| K-12 Education | 32,708.9 | 2,466 | 22,450.1 | 1,746 | +45.7 |
| Higher Education | 16,161.2 | 387 | 9,733.9 | 241 | +66.0 |
| Student Loans | 1,024.1 | 8 | 2,475.4 | 10 | 58.6 |
| Other Education | 345.9 | 37 | 431.7 | 41 | 19.9 |
| Tax-Exempt | 46,270.5 | 2,688 | 28,406.2 | 1,692 | +62.9 |
| Taxable | 3,477.6 | 204 | 6,088.5 | 340 | 42.9 |
| Minimum-Tax | 492.0 | 6 | 596.4 | 6 | 17.5 |
| New-Money | 17,618.8 | 1,219 | 17,648.8 | 1,278 | 0.2 |
| Refunding | 25,298.6 | 1,513 | 12,728.0 | 636 | +98.8 |
| Combined | 7,322.6 | 166 | 4,714.3 | 124 | +55.3 |
| Negotiated | 38,275.0 | 1,812 | 24,916.4 | 1,253 | +53.6 |
| Competitive | 11,643.9 | 1,053 | 9,540.0 | 735 | +22.1 |
| Private Placements | 321.1 | 33 | 634.6 | 50 | 49.4 |
| Revenue | 20,847.0 | 645 | 18,091.4 | 511 | +15.2 |
| General Obligation | 29,393.1 | 2,253 | 16,999.6 | 1,527 | +72.9 |
| Fixed-Rate | 47,477.1 | 2,840 | 30,082.8 | 1,967 | +57.8 |
| Variable-Rate (Short Put) | 503.4 | 18 | 740.4 | 16 | 32.0 |
| Variable-Rate (Long/No Put) | 302.8 | 6 | 587.0 | 11 | 48.4 |
| Zero-Coupon | 695.1 | 163 | 668.8 | 167 | +3.9 |
| Linked-Rate | 999.2 | 8 | 2,677.3 | 12 | 62.7 |
| Auction-Rate | 0.0 | 0 | 0.0 | 0 | n.m. |
| Convertible | 262.5 | 16 | 334.8 | 31 | 21.6 |
| Bond Insurance | 3,169.1 | 302 | 2,923.0 | 231 | +8.4 |
| Letters of Credit | 253.4 | 12 | 478.4 | 10 | 47.0 |
| Standby Purchase Agreements | 65.0 | 1 | 177.6 | 2 | 63.4 |
| Insured Mortgages | 0.0 | 0 | 0.0 | 0 | n.m. |
| Guaranties | 12,732.9 | 891 | 7,624.7 | 493 | +67.0 |
| Other Enhancements | 11.9 | 2 | 0.0 | 0 | n.m. |
| State Governments | 1,035.1 | 14 | 1,370.7 | 19 | 24.5 |
| State Agencies | 10,800.9 | 188 | 10,684.6 | 171 | +1.1 |
| Counties & Parishes | 795.5 | 34 | 223.7 | 17 | +255.6 |
| Cities & Towns | 717.8 | 42 | 431.8 | 33 | +66.2 |
| Districts | 27,751.7 | 2,329 | 16,936.5 | 1,604 | +63.9 |
| Local Authorities | 3,503.6 | 139 | 3,027.8 | 121 | +15.7 |
| Colleges & Universities | 5,623.6 | 150 | 2,293.3 | 69 | +145.2 |
| Direct Issuers | 12.0 | 2 | 122.8 | 4 | 90.2 |
| Tribal Governments | 0.0 | 0 | 0.0 | 0 | n.m. |
| Cooperative Utilities | 0.0 | 0 | 0.0 | 0 | n.m. |
| Bank-Qualified | 6,753.9 | 1,608 | 3,613.3 | 991 | +86.9 |
| Build America Bonds | 0.0 | 0 | 0.0 | 0 | n.m. |
| Qualified Sch Construction | 556.0 | 35 | 2,113.7 | 190 | 73.7 |
| Other Stimulus | 44.8 | 16 | 198.8 | 38 | 77.5 |
Key to Abbreviations: cpt – competitive; GOs – general obligation bonds; ref – refunding.
Source: Thomson Reuters (using data available as of July 14, 2012)
