(Adds details on underwriters, issuers, volume)
Oct 3 J.P. Morgan Securities, a unit of
JPMorgan Chase & Co (JPM.N), was the top bookrunning
underwriter of U.S. municipal bonds in the first nine months of
2011, according to Thomson Reuters data released on Monday.
Total issuance plummeted 37 percent in the first nine
months to $187.5 billion from the same period in 2010.
Still, issuance is showing signs of revival.
Third-quarter issuance alone totaled $75.2 billion, the
highest volume of the year. September supply, meanwhile,
totaled $27.4 billion, the second largest month in 2011 after
June, Thomson Reuters said in its report.
Citi (C.N) was the second leading bookrunner, followed by
Bank of America Merrill Lynch (BAC.N) and Morgan Stanley
(MS.N). In just negotiated offerings, though, Citi held the top
Illinois was the top long-term issuer of debt in the first
nine months, selling $3.7 billion taxable general obligation
On aggregate debt issues, California continues to dominate
for the ninth year in a row, with issuers in the state selling
$26.6 billion in the first nine months. That was down a third
from $39.8 billion in the same period last year, as the state's
budget fight pushed off much of its debt issuance until the end
of the year.
(Reporting by Chip Barnett in New York and Lisa Lambert in
Washington; Editing by James Dalgleish and Leslie Adler)