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Muni-Bond Sales to See Slowdown After November’s Midterms

  • Total GO bond sales fall 51% in 1Q when state has new governor
  • About $320 billion of new long-term munis issued this year
Bloomberg business news
Munis Are on 'Very Solid Footing': BlackRock's Carney

The results of the Nov. 8 midterm elections will make waves in the $4 trillion municipal bond market, one of the most politically exposed asset classes.

With 36 governor seats up for re-election, states and localities will likely issue less debt through early 2023, which is already a typically quiet time for the market, according to Vikram Rai, the head of Citigroup Inc.’s municipal-bond strategy group.