Muni Bond Sales Soar as Issuer Needs Exceed Worry on Fed
- Year-to-date sales reach $142.8 billion, highest since 2015
- States, cities still see debt costs as relatively attractive
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States and municipalities sold $142.8 billion in long-term municipal bonds during the first four months of 2024, the most in almost a decade, as the need to borrow outweighed concerns over higher interest rates that afflicted investors in the market.
This year’s surge follows a 20% decline in issuance in 2022 and a flat 2023, according to data compiled by Bloomberg. The amount of borrowing so far is 33.3% higher than last year and the most for the period since $144.3 billion in 2015.