New Kestrel insights on labeled bonds in the municipal market are available in the H1 2026 Market Commentary. In our work, we continue to see important shifts in how municipal issuers approach sustainability disclosure, resilience communication, and the role of labeled bonds.

KEY TAKEAWAYS

01 H1 2026 data suggest that several important trends are taking shape. Larger transactions are more likely to use Second Party Opinions.

02 Many municipal issuers finance impactful projects that remain under-communicated to the market.

03 As capital markets become more digital and AI-enabled, the quality and structure of issuer disclosure is becoming more important.

View the H1 2026 Market Commentary to learn more.