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)

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