Baird's Derdenger Weighs in on January Issuance Trends with The Bond Buyer
Bryan Derdenger, Managing Director with Baird’s Negotiated Underwriting team, recently spoke with The Bond Buyer about January municipal issuance, which totaled $34.3 billion across 471 issues. While down slightly year‑over‑year, this is still the third‑highest January on record and above the 10‑year average of $29.7 billion.
Derdenger noted that this year’s dip likely reflects a return to more typical seasonal patterns after last year’s pre‑election “front‑running” of supply. He added that the difference from last January is “not necessarily meaningful,” as muni issuance historically builds from January into the summer months.