When June 1 officially kicks off the spring reinvestment season, bondholders will be faced with an estimated $51.6 billion in municipal bond redemptions for the month - approximately a 15% increase over June 2007, according to new figures from Interactive Data.

On the heels of June's redemptions, July 1 will bring with it another $38.2 billion in anticipated early summer payouts. The combined $89.8 billion in redemptions compares to 2007's $85.4 billion two-month total - $44.68 billion in June and $40.70 billion in July, according to the May 8 data.

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