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Article: Secondary market coverage outpacing 1994.(bond market and municipal bond insurance)
- Article from:
- The Bond Buyer
- Article date:
- June 16, 1995
- Author:
CopyrightCOPYRIGHT 1995 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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Municipal investors are flooding bond insurers with requests for secondary market coverage, according to leading firms in the field.
Officials at bond insurers said they are writing record levels of policies on previously issued bonds this year, well above the pace set in 1994, itself the best year so far.
Behind the trend is the growing acceptance of secondary market insurance, the companies said.
Furthermore, the supply of new insured bonds has fallen substantially but demand from retail buyers has remained high.
"The entire industry has redirected itself to the secondary market," said Craig T. Charlton, director of secondary market and ...