The Treasury Department said it will auction $13 billion two-year notes floating rate notes on Wednesday, March 26.
The notes are due Jan. 31, 2016.
The Federal Reserve holds $2.948 billion of Treasury notes in the System Open Market Account, which may be refunded.
Issuance was $55.454 billion in 784 deals, up 13.7% year-over-year from $48.754 billion across 802 transactions. This is the highest monthly total for September, according to LSEG.
A possible increase in Democratic representation and property tax referendums have implications for state and local governance.
Muni investors' fears for the economy and war were overpowered by their fear of missing out, said Peter Delahunt, head of the municipal bond department at StoneX.
The center provides research, training and outreach on state and local governments' public money decisions.
Leases backing many of the bonds are scheduled to expire before the debt is fully repaid, Moody's warned.
The muni market will also receive $28 billion of principal and interest set to be paid to investors Thursday, according to CreditSights.
