MSRB's 2026 Midyear Municipal Market Summary provides insights into key developments in the municipal securities market during the first half of the year. Listen as MSRB Chief Market Structure Officer John Bagley discusses issuance, trading volume, tax-exempt yield, investor demand, and the increasing electronification of the market.

Visit the 2026 Midyear Municipal Market Review webpage to:

• Read the full report
• Download the presentation slides
• Watch the webinar on demand

MSRB Chief Market Structure Officer John Bagley discusses key developments in the municipal securities market in 2025 and major trends in the last 5 years.

MSRB Chief Market Structure Officer John Bagley and Director, Market Practices Carol Converso analyze the 2024 municipal securities market, detailing a record trade count, an overall rise in yields, a significant increase in new issue volume, and more.

MSRB Chief Market Structure Officer John Bagley and Director, Market Practices Carol Converso discuss analysis of the municipal securities market in 2023 that reveals high interest rate volatility, record trade count and strong individual investor demand for bonds. 

MSRB Chief Market Structure Officer John Bagley and Senior Director of Research and Market Transparency Marcelo Vieira examine notable trends in the 2022 municipal bond market, including record trade count.

MSRB Chief Market Structure Officer John Bagley examines notable trends in the 2021 municipal bond market, including near record new issuance coupled with low volatility and the lowest overall trading volumes since 2016.

MSRB Chief Market Structure Officer John Bagley, fresh off his return from secondment at the Federal Reserve Bank of New York to assist the Municipal Liquidity Facility, analyzes notable trends in the municipal market in 2020, including the unprecedented market dislocation and spectacular recovery.

Hear from special guest Gary Hall, former Board Chair, as well as current Board members, Caroline Cruise and Seema Mohanty, about the MSRB’s work to recruit a new class of Board members and create a Board that is diverse, inclusive and representative.

Modernizing decades-old market transparency systems is no small task. Get a behind-the-scenes look from the MSRB's technology and data leadership at this complex process, from taking our systems to the cloud to upgrading our infrastructure and developing a data strategy.

Modern regulation is dependent on technological advancement. This episode features several members of the MSRB Board of Directors discussing the MSRB's strategic investment in technology and their vision for advancing fairness, transparency and efficiency in the municipal market.

The MSRB Podcast expands the array of existing, market education resources provided by the MSRB, including an online Education Center and compliance resources, and its eLearning platform, MuniEdPro®.