The municipal bond market is entering a critical phase as local governments hope a still-skittish market can digest a near-record volume of new bonds over the next 30 days.

The Bond Buyer's 30-day visible supply, which measures new bonds planned for sale in the next month, touched $21.29 billion on Tuesday. The supply has since eased back slightly, but remains heavier than any time except October 2002.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.