Bond Volume Takes Major Hit in May

D'Ambrosio, Gillian
June 2003
Bond Buyer;6/2/2003, Vol. 344 Issue 31647, p1
Trade Publication
This article reports that the monthly volume for municipal bond issuance in the U.S. tumbled about $5.8 billion year-over-year in May 2003, one of the largest drops since an $8 billion plunge in January 2000. This drop breaks a four-month trend of year-over-year increases in bond issuance beginning in January 2003, a streak that came on the heels of 2002's record volume of $358 billion. Analysts said that an unusually vigorous pace for bond issuance in May 2002, boosted by a few tobacco securitization deals, could have dwarfed sales in May 2003.


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