November saw the municipal bond market take a break from the surge in new issue volume that has dominated most of 2012.

Long-term muni bond issuance last month fell 20%, to $30 billion in 1,079 issues as Hurricane Sandy, the U.S. elections and the Thanksgiving holiday stifled issuers. That compares with $37.3 billion in 1,205 issues the market saw in November 2011.

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