Overseas Buyers Lift U.S. Muni Bond Holdings 15% to $83 Billion
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Foreign investors boosted their holdings of U.S. municipal bonds by 15 percent in the second quarter, signaling that local officials continue to draw overseas buyers as they raise money for public works projects.
Buyers outside the U.S. held $83 billion of municipal bonds by the end of June, up from $71.9 billion three months earlier, the Federal Reserve Board said yesterday. The increase follows a 19 percent leap in purchases by the group in the previous three months.