U.S. Muni Sales May Total $330 Billion in 2012, Hallacy Says

U.S. state and city debt issuance may total $330 billion this year, about $60 billion higher than in 2011, said John Hallacy, head of municipal research at Bank of America Merrill Lynch.

While the lowest interest rates in a generation have spurred local governments to refinance debt, more municipalities are starting to issue bonds for new projects, Hallacy said. He spoke today at the State & Municipal Finance Conference hosted by Bloomberg Link in Chicago.