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Article: New issuance shoots up 43%, to $191 billion, from year ago.
- Article from:
- The Bond Buyer
- Article date:
- November 3, 1992
- Author:
CopyrightCOPYRIGHT 1992 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New-issue municipal bond volume continued to surge through the first 10 months of 1992, rising 43% to $191.5 billion from $133.55 billion in the same period of 1991, according to figures compiled by Securities Data Co.
Although refundings continue to fuel the growth of long-term volume, in the past two months new-money issues have begun to keep pace.
Through October, refundings soared 138% from a year ago, to $90.62 billion from $38.06 billion, while new-money issuance advanced 6%, to $100.88 billion from $95.49 billion. But in the past two months, refundings have declined sharply, from $10.88 billion in August to $7.14 billion in September and $6.89 ...