Weekly Sales of $2 Billion May Be Lowest Since 2003: Muni Credit
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Municipal issuers plan about $2 billion in sales next week, the slowest August week since at least 2003, after lawmakers ended a months-long debate over raising the U.S. debt limit.
The slowdown, from about $4.9 billion this week, reflects issuers’ hesitation to sell while Congress and the White House were hashing out the debt deal, said Matt Fabian, a managing director of Concord, Massachusetts-based Municipal Market Advisors.