Q1-Q3 underwriter rankings little changed amid lower issuance

The top municipal underwriters accounted for $292.446 billion in 6,418 issues in the first three quarters of 2022, down from the $344.276 billion in 9,167 transactions during the same time last year.

BofA Securities remained in the top spot despite accounting for considerably fewer transactions and market share than in the first three quarters of 2021.

Minor shuffling among the top municipal underwriters characterized the year-over-year differences, with the same underwriters remaining in the top 10.