Q1 municipal bond issues lowest in 11 years-data

WASHINGTON, March 31 (Reuters) – New sales of municipal
bonds in the first quarter of 2011 sank to $46.43 billion, the
lowest quarterly level in 11 years, according to preliminary
Thomson Reuters data released on Thursday.

The last time sales of debt issued by U.S. states, local
governments and other authorities were lower was in the first
quarter of 2000, when they were at $39.09 billion, the data
showed.

Few new bond deals have come to market this year, although
issuance has ticked up slightly in recent months. January’s
volume of $12.29 billion was the lowest since January 2000.
(Reporting by Lisa Lambert; editing by Jeffrey Benkoe)

Q1 municipal bond issues lowest in 11 years-data