Issuance volume

The top five bond financings have an average dollar volume of more than $1.9 billion.

The top five bond financings have an average dollar volume of more than $1.2 billion.

Two California issuers take first and third spots on the list. The Regents of the University of California top the list with $2.875 billion in six deals while Los Angeles Unified School District lands at third with $1.189 billion in two deals.

The top five bond financings have an average dollar volume of more than $1.9 billion.

The top five bond financings have an average dollar volume of more than $957 million.

The top five bond financings have an average dollar volume of nearly $1.5 billion.

A majority of those polled at The Bond Buyer's 2024 National Outlook Conference also felt issuance would increase moderately this year, to between $400 billion and $450 billion.

The top five bond financings have an average dollar volume of more than $917 million.

The top five bond financings have an average dollar volume of more than $1 billion.

The top five bond financings have an average dollar volume of more than $1.2 billion.

Healthcare and transportation had the biggest contraction in issuance volume.

Total volume in 2022 was at $389.094 billion in 9,123 deals, down 19.5% from the $483.358 billion in 13,130 deals in 2021, according to Refinitiv data.

The transportation bond sector may see the greatest growth in 2023 as a result of the infrastructure act, one analyst said.

Nearly two-thirds of market participants in a Bond Buyer live market survey believe 2023 issuance will remain around last year's levels.

"January issuance is at a multi-year low, with large declines in both taxable and tax-exempt issuance," said Matt Fabian, a partner at Municipal Market Analytics. 

Total November volume stood at $19.712 billion, the lightest of any month year-to-date, in 527 versus $37.073 billion in 1,055 issues a year earlier, according to Refinitiv data.

Many market players have revised their supply projections downward since rising interest rates have slowed down refunding and taxable volumes and general market volatility has stopped some issuers from participating.

Total volume in the first half of the year was at $209.718 billion in 5,153 deals, down 11.2% from the $235.836 billion in 6,793 over the same period in 2021, according to Refinitiv data.

Total July volume was $25.598 billion in 520 deals versus $37.573 billion in 1,013 issues a year earlier, according to Refinitiv data.