Muni Issuance May Fall to $280 Billion in 2014, Friedlander Says
This article is for subscribers only.
Issuance in the $3.7 trillion U.S. municipal market may fall to $280 billion in 2014, the lowest since 2011, said George Friedlander, chief municipal strategist at Citigroup Inc.
Localities have issued $255 billion of long-term debt this year through Nov. 1, down 15 percent from last year’s pace, data compiled by Bloomberg show. New York-based Citigroup forecasts $325 billion of sales for 2013. The bank’s projected tally for next year would be the second-smallest total since 2005, the data show.