Just like that, from third top underwriter over the last 11 years, representing $50 billion a year (10% market share) to zero. Why? How does this affect the muni market? What does it mean going forward? How does it affect muni investors? How does it affect MainLine West? This month, we review muni underwriting over the years and what it means to have Citi departed from the market - like homerun ball over the left field fence.
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