Muni Bond Issuance Up in 2001.

• Position: Long-term municipal bonds - Brief Article

An exponential increase in refunding activity fueled by lower interest rates pushed long-term municipal bond volume up by 43.5 percent in the first quarter of 2001. Total issuance volume was $58.4. billion, compared to $40.7 billion in the same period last year. The overall surge in issuance was driven by falling interest rates that sent issuers scrambling to refinance higher interest debt--refunding issuance increased by a whopping...