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Municipal Bonds New Issue Mirage

by Jeff Rose on January 14, 2010

in Bond Commentary

Total issuance of new municipal bonds may set a record in 2010, but the real story for investors is the composition of new bond issuance. Wall Street forecasts range from $415 billion to $450 billion in new municipal bond issuance for 2010, with most forecasts clustered towards the upper end of that range.

Municipal Bonds New Issue
Creative Commons License photo credit: whittlz

New municipal bond issuance in 2010 therefore stands a chance to break the 2007 new issue record of $435 billion. Supply is one of the most important drivers of municipal bond performance and manageable supply helped produce good performance in 2009.
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