State and local governments borrowed more money in 2010 than any other year on record, but traditional muni investors often found it difficult to buy tax-exempt paper thanks to the onslaught of Build America Bonds.

Total long-term issuance expanded 5.8% to $433.3 billion in 2010, beating the previous record from 2007 when volume totaled $429.9 billion.

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.