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Muni-Bond Sales Collapse 40% in September as Issuance Slumps

  • State and local debt sales set to fall about 40% in September
  • Bank of America cuts 2022 issuance forecast to $420 billion
Bloomberg business news
Long-Duration Munis Very Attractive: Schwab's Kathy Jones
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Municipal-bond investors aren’t the only ones getting hurt by the bear market. Cities and Wall Street bankers alike are also feeling the pinch as the volume of deals in the $4 trillion market tumbles. 

State and local debt sales are poised for a monthly decline of roughly 40% to about $24 billion in September, according to data compiled by Bloomberg. It would be the lowest monthly volume of debt sales since November 2020, the data show, even though September is typically a busy month for debt sales.