Washington, D.C. Joins Muni Selling Spree With Record Bond Deal
- City is selling about $1 billion of bonds on Wednesday
- Muni sales increase 20% this year as interest rates fall
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Washington, D.C., is planning its largest-ever bond sale on Wednesday, joining state and local governments that are inundating the market with debt to seize on interest rates that are holding near a more than half-century low.
The nation’s capital plans to sell about $1 billion of bonds to refinance outstanding debt and pump some money into a community revitalization project. It comes amid a flood of activity from municipalities that’s pushed the amount of bond sales this year to $338 billion, a 20% increase over the same period last year, according to data compiled by Bloomberg.