Statistics reports

The region's municipal bond industry insiders saw a silver lining in a 21% increase for new money volume.

A state-by-state review of 2018 issuance in the Northeast.

Late-2017 tax legislation caused a ripple effect that led to sinking municipal issuance in 2018

Note issuance declined in 2018 as a result of tax reform, rate fears, and ongoing fiscal austerity sparked by state and local revenue growth.

Municipal bond insurance may have finished 2018 down 18.1% from where it was the year before, but it outpaced the 23.5% volume dip the overall industry saw due to changes in tax legislation.

Development was down 50.4%, healthcare was off by 42.7%, and electric power declined 40.1%. The slides compared with an overall decline of 23.5% in total issuance.

Following a late-2017 rush to market of advance refundings and private-activity bonds in the run-up to the implementation of new tax legislation, supply in 2018 -- particularly refunding issuance -- suffered a steep decline.

Issuers in the Northeast sold $95.5 billion of municipal bonds in 2018, off 21.3% from 2017 with an even more pronounced fourth-quarter drop.

A state-by-state review of first half 2018 issuance in the Far West.

Issuance was down 27% in the region from the first half of 2017, and almost 30% in California, its largest market.