Page 2 - Statistics Reports News Today

Higher education borrowing led by century bond deals helped offset the dive in refundings brought on by rising interest rates.

Bond issuance in the Southwest region was down 10.1% to $40.8 billion from January through June compared to the same period in 2021.

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.

The Northeast's issuers sold $49.69 billion of municipal bonds in the first half of 2022, down more than 18% year-over-year.

Issuers in California sold more than $86 billion of municipal bonds in 2021.

Municipal bond issuance in the region was down 11.7% year-over-year in 2021, as new money, refunding, taxable and tax-exempt volume all slipped.

Overall volume in the Southeast rose 1.8% last year even as taxable issuance plunged and refunding deals shriveled up.

Municipal bond issuers in the Southwest sold $90.8 billion of debt in 2021, down 3.2% from 2020 as lost refunding volume outpaced a gain in new-money sales.

From the use of taxables to forward deliveries, refunding deals drove an overall 15.8% hike in Midwest bond volume that exceeded the national average.

Municipal issuers in the Southwest sold $93.5 billion of debt in 2020, a year in which the coronavirus upended the way bond business is done.