Municipal Bond Trading Volume Recovers from Decade Low: Chart

Average daily trading volume over the past month in the $3.7 trillion municipal-bond market climbed this week to $9.7 billion, the highest since July, according to Municipal Securities Rulemaking Board data compiled by Alan Schankel at Janney Montgomery Scott. The climb comes after 2015 set a new low in trading since the MSRB began compiling data since at least in 2005. Thus, the increase should be kept in perspective: volume averaged $13.6 billion five years ago, said Schankel, a managing director at Janney in Philadelphia.

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