The top municipal underwriters saw big shifts in rankings in 2023.
The changes reflect a year of
The industry has
The top underwriters accounted for $362.847 billion in 7,268 issues in 2023, versus the $359.846 billion in 7,906 transactions in 2022.
BofA Securities remained in the top spot accounting for slightly more par and a negligible market share increase than in 2022. RBC climbed to second place after finishing at fifth in 2022 while Jefferies rose to third from eighth.
Shuffling among the top municipal underwriters characterized the year-over-year differences as Raymond James entered the top 10, knocking Barclays to 11th. Citi came in at sixth.