Tally for '04 Muni Volume Hits $358.6B

Chang, Helen
January 2005
Bond Buyer;1/3/2005, Vol. 351 Issue 32041, p1
Trade Publication
The article presents record sales of long-term debt in the year 2004. According to preliminary data from Thomson Financial, U.S. state and local governments last year sold roughly $358.55 billion of long-term debt, which is the third highest on record and about $25 billion less than the all-time record of $383.77 billion posted in 2003. Chris Mier, municipal strategist at Loop Capital Markets said the real surprise in 2004 was that long-term interest rates stayed as low as they did in the face of five rate increases by the Federal Reserve. With modest inflation and employment gains, and the Federal governments expected to continue its interest-rate tightening campaign.


Related Articles

  • What's Wrong With the Federal Reserve: What Would Restore Independence? Meltzer, Allan H // Business Economics;Apr2013, Vol. 48 Issue 2, p96 

    The actual degree of independence of the Federal Reserve has varied over the years. This paper traces its history and finds that the Federal Reserve has been most successful in its dual full-employment, low inflation mandate when it follows fixed rules, and focuses on the intermediate term...

  • Inflation targets and inflation targeting. Meyer, Laurence H. // North American Journal of Economics & Finance;Aug2002, Vol. 13 Issue 2, p147 

    Presents a study that examined the dual policy mandate of the U.S. Federal Reserve System regarding the promotion of price stability and high employment in the U.S. Background on the development of monetary policy objectives in the country; Discussion on the explicit inflation target; Factors...

  • Signals from Unconventional Monetary Policy. Bauer, Michael; Rudebusch, Glenn // FRBSF Economic Letter;11/21/2011, Vol. 2011 Issue 36, p1 

    No abstract available.

  • Key Regional Implications Of The Fed Cut.  // Middle East Monitor: The Gulf;Feb2008, Vol. 18 Issue 2, p3 

    The article forecasts the regional implications of the U.S. Federal Reserve's decision to cut interest rates. The United Arab Emirates (UAE) and Qatar may possibly move to a basket-peg economy to control inflationary pressures. The rate cuts are expected to ease the pressure for revaluation in...

  • BMI Global Assumptions.  // West Caribbean Business Forecast Report;2005 1st Quarter, Following p22 

    The article presents forecasts for growth, inflation, policy interest rates and the exchange rate in the U.S., the Eurozone and Japan over the forecast period of the report. The indications are that the U.S. economy is accelerating once more, following the "soft patch" of late-spring and early...

  • Interest rate increase probable.  // Pensions & Investments;7/25/1994, Vol. 22 Issue 15, p2 

    Reports on the probable 75 percent increase in interest rates given by the US Federal Reserve Board. Need for an interst increase to stop the possibility of inflation; Average expectation of inflation rate; Need for protection from political expediency.

  • Money Supply Announcements and the Market's Perception of Federal Reserve Policy. Strongin, Steven; Tarhan, Vefa // Journal of Money, Credit & Banking (Ohio State University Press);May90, Vol. 22 Issue 2, p135 

    The article examines the rise in interest rates in response to positive innovations in the money supply during the early and mid-1980s in the United States. One of the major hypothesis developed regarding the issue is the liquidity premium hypothesis, which holds that the market expects that the...

  • It's always something. Thredgold, Jeff // Enterprise/Salt Lake City;12/31/2007, Vol. 37 Issue 27, p5 

    The author reflects on the rate cuts made by the U.S. Federal Reserve in efforts to enhance overall financial market liquidity. It says that the Fed was able to cut its key interest rate in part because inflation pressures had been within or very close to its presumed target range of 1-2%. The...

  • Monetary Policy Propects. Koenig, Evan F. // Economic & Financial Policy Review;2004, Vol. 3 Issue 2, p1 

    Examines the measures of the policy stance of the U.S. Federal Reserve System in 2004. Reasons for the future increase in short-term interest rates; Historical relationship between the Federal Reserve policy, inflation and resource slack; Factors which may affect the outcomes of the monetary...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics