Oct 30 U.S. municipal bond issuance totaled $31.56 billion in October, the biggest monthly supply since July, while November will launch next week with an estimated $6.61 billion in bond and note sales, according to Thomson Reuters data on Friday.
Sales of debt by U.S. states, cities, schools and other issuers this month totaled less than the nearly $35 billion sold in October 2014. Still, issuance of $332.5 billion so far in 2015 is up 32.9 percent over the same period last year, with refundings outpacing new money deals.
In the coming week, Massachusetts will sell $450 million of triple-A-rated commonwealth transportation fund revenue bonds through Citigroup, starting with a presale period on Wednesday, followed by formal pricing on Thursday. The bonds will be offered in serial maturities from 2017 through 2035 and term maturities in 2040 and 2045, according to the preliminary official statement.
The biggest competitive issues are from Nevada’s Clark County School District, which will offer $541.8 million of limited-tax general obligation new and refunding bonds in two deals on Tuesday.
Flows into municipal bond funds remained positive for the fourth-straight week with net inflows of $349 million in the week ended Oct. 28, according to Lipper, a unit of Thomson Reuters.
REUTERS
(Reporting by Karen Pierog; Editing by Dan Grebler)