Director of Credit Analysis
Stoever Glass & Co., Inc.
P: (862) 432-8818
My apology to Charles Dickens by saying “It was the best of times, it was the worst of times”.
The best of times: new municipal bond issuance is poised for an all-time record, indicating investors’ confidence in the municipals. Through November 30, $416 billion of new issues is 11% above last year’s $375.5 billion. With December sales yet to be reported, the market can set a new issue record beyond $433 billion in 2010.
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