In the final Muni Minute of 2016, we look at long-term new issue volume, which is threatening to break the all-time annual record. Muni Minute will resume on Monday, January 9.

VOICE OVER: With 2016 almost over and a new year right around the corner, the biggest question on everyone's mind is whether 2016 will see a record issuance wise in the municipal market? After a surge in September and an overload in October, volume was on pace to break the record. Now, with the holidays drawing near and only two weeks remaining, making history is no sure thing.

Thanks to a surprising presidential election result, the market has been extremely volatile and refunding volume has taken a nosedive since. According to Thompson Reuters data, long-term municipal volume needed just 18 billion in the month of December to break the previous record of 433 billion set in 2010. As of December 15th, the volume is about 1.5 billion off that mark.

The volume for this week is estimated at 480 million, meaning it will likely come down to the final days. How will it play out? Only time will tell. I'm Aaron Weitzman, and this has been your last Muni Minute of 2016. We will return on January 9th. Happy holidays.