Munis Sales Reach 10-Month High as N.Y. Borrows $1.4 Billion
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New York state, the nation’s largest municipal issuer after California, sold $1.4 billion in taxable and tax-exempt bonds as scheduled offerings of debt reached a 10-month high.
States and local governments are poised to borrow $13 billion this week, the most since the period ended Dec. 11, according to data compiled by Bloomberg. That includes $1.3 billion being sold this week by New York City, the nation’s third-largest issuer.