The District of Columbia accelerated the sale of $1.5 billion of municipal bonds by a day, taking advantage of a rally in US state and local debt that helped buoy demand for the securities.
The district and its underwriter, Wells Fargo & Co, priced the issue earlier than scheduled to benefit from a “positive market tone” following recent volatility and credit pressures after Moody’s Ratings’ downgraded the nation’s capital, according to Carmen Pigler, DC’s deputy chief financial officer and treasurer.
Muni bonds gained Thursday, extending an advance that sent benchmark yields as much as 0.03 percentage point lower on Wednesday, according to data compiled by Bloomberg.
Bloomberg Markets
By Aashna Shah and Danielle Moran
May 1, 2025