Muni Trading Hasn’t Been So Slow Since Turn of Century
- Market’s trading volume tumbles 34% this year to 22-year low
- Bonds have grown scarce with cash flowing steadily in
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The loneliest place on Wall Street may be the muni-bond trading desk.
Even with the volume of new state and local government debt sales on pace to surpass last year’s record, trading activity has dried up considerably. The par amount of bonds traded has tumbled by 34% so far this year to $1.43 trillion, a 22-year low, according to data compiled by Bloomberg.