Munis See Biggest Sales Boom Since at Least 2013
- Borrowings by state and local governments are up 37%
- Cities aren’t waiting for Fed interest rate cuts to borrow
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US states and local governments, undeterred by high interest rates, have propelled the municipal bond market to the busiest start to a year since at least 2013.
Muni-bond sales have hit $183 billion so far in 2024, up 37% year-over-year, according to data compiled by Bloomberg. The haul so far this year is about $50 billion higher than the same period in 2023, the figures show.