- Activity driven by borrowers avoiding post-election volatility
- Sales this year at a record-setting pace at about $400 billion
With the US elections less than three weeks away, the sale of local and state government debt is surging.
The 30-day supply of municipal bonds rose to about $22.9 billion as of Wednesday, the highest since October 2020, another period when sales was elevated due to looming elections, according to a Bloomberg index of scheduled sales over the next month.
That figure could be even higher since the data represents a fraction of what comes to market. Many muni-bond sales are announced with less than a month’s notice.
Bloomberg Markets
By Amanda Albright
October 16, 2024