A change in the methodology the Federal Reserve uses to measure who owns municipal bonds has masked the growth in foreign ownership of state and local government debt.

The latest Fed flow of funds report last week showed foreigners owned $52 billion of municipal bonds at the end of the third quarter, reflecting only marginal growth this year.

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.