DALLAS - Despite the market trauma of 2008, municipal bond volume across the eight states in the Southwest region rose 5.4% to nearly $72 billion. Only three states - Arkansas, Colorado, and Kansas - saw their volume of issuance drop. Click here to see charts. In 2007, only one deal surpassed $1 billion. In 2008, there were four, including the North Texas Tollway Authority's record $3 billion negotiated sale. With more than $5 billion in total issuance, the NTTA sold five times the amount of debt from 2007's top issuer, the Arizona Health Facilities Authority.

The NTTA's 7.3% share of the Southwest market helped propel RBC Capital Markets to the top spot among financial advisers with nearly $13 billion of deals for an 18.3% share, more than $2 billion ahead of last year's top FA, First Southwest Co.

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