Updated results for December market volume showed only a slight change from preliminary numbers, as Thomson Financial data yesterday showed $29 billion of bonds were sold during December. Previous reports quoted the number at $28 billion.

The rise pushed year-end market volume to $429 billion, which is 5% higher than the previous record of $408 billion sold in 2005. The low yields, flat yield curve, and relatively stable market environment that characterized the municipal market during the first half of 2007 were a large part of why state and local governments sold so much debt.

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