Tax-exempt note issuance rose less than 5% in the first half of 2017, indicating that municipalities required less short-term borrowing and shouldered a lot of their own financial needs compared to last year.

Municipalities sold a total of $20.08 billion of notes to supplement their short-term cash flow needs within 1,097 issues in the six-month period ending June 30, an increase of 4.6% according to data from Thomson Reuters. That compares with $19.19 billion among 1,195 issues in the first half of 2016.

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.