For the Muni-Bond Market, It’s the Worst Week Since 1987
- State and local government debt is headed toward a 4.2% loss
- It wiped out $66 billion in an index’s market capitalization
Photographer: Daniel Acker/Bloomberg
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Municipal-bond bankers, traders and investors are closing out their worst week since 1987.
State and local government debt is headed toward a 4.2% loss, the biggest weekly drop since at least May 1987, according to data compiled by Bloomberg. That wiped $66 billion from the Bloomberg Barclays municipal-bond index’s market capitalization.