U.S. National-Level Municipal Bond Market Statistics (SIFMA Aggregates)

This dataset compiles national-level municipal bond issuance and pricing statistics for the United States, sourced from the Securities Industry and Financial Markets Association (SIFMA). It includes time-series data on municipal bond issuance volumes, average yields, interest rates, and maturity structures, aggregated on a monthly and annual basis. The dataset provides critical macro-financial context for evaluating subnational debt trends, especially in the context of climate adaptation investments and fiscal resilience. In particular, it supports comparative analysis between local climate-related borrowing (e.g., FEMA-backed projects) and national municipal debt trends, serving as a benchmark for assessing changes in risk premiums, cost of capital, and investor behavior. This file was used to calibrate yield spreads in empirical models evaluating the market response to federally co-funded nature-based infrastructure.

本数据集汇编了美国国家级市政债券的发行与定价统计数据，数据源自证券业与金融市场协会（Securities Industry and Financial Markets Association, SIFMA）。数据集包含按月度与年度维度汇总的市政债券发行规模、平均收益率、利率及期限结构等时序数据。该数据集可为评估地方政府债务趋势提供关键的宏观金融分析背景，尤其适用于气候适应投资与财政韧性相关研究场景。具体而言，本数据集可支持地方气候相关借贷（例如联邦紧急事务管理局（Federal Emergency Management Agency, FEMA）资助项目）与全国市政债务趋势的对比分析，可作为评估风险溢价、资本成本及投资者行为变化的基准参考。本数据集曾用于校准实证模型中的收益率利差，以评估市场对联邦协同资助基于自然的基础设施的响应情况。