Municipal Bond Sales Cross $500 Billion Mark at Record Pace
US states and local governments are selling debt at a record clip, borrowing more than $500 billion so far this year as the need for infrastructure and airport upgrades mounts.
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US states and local governments are selling debt at a record clip, borrowing more than $500 billion so far this year as the need for infrastructure and airport upgrades mounts.
Investors snapped up almost $180 million in high-yield bonds this week sold to finance an expansion of the Villages, a 57,000-acre retirement community in Florida.
Bloomberg's Aashna Shah joins Scarlet Fu on "Bloomberg Real Yield." The return of the Washington Commanders to the nation’s capital has the District of Columbia considering borrowing roughly $526 million in municipal bonds, according to a filing. (Source: Bloomberg)
Municipal bond asset managers are finding opportunities in the rout that tore through markets this month, with cheaper valuations and the highest yields in years drawing investors.
A painful fixed-income selloff is eroding returns in state and local government debt, driving the rate on benchmark 30-year municipal bonds above the 5% threshold.